Questions and answers while going for a negotiation, Other Management

Assignment Help:

Let us review some questions that as a negotiator you can face while conducting a negotiation and the considerations to find answers to these questions: 

  • Framing the opening conversation: A tough opening position sets a firm tone and the counterpart probably will have to make deep concessions to win an agreement. It is  a take-it-or-leave-it approach. You can adopt this when you are sure that the other party needs to close a deal with you. The pitfall of this approach is that the other party may reject your position if he has good alternatives.  
  • Getting better information  and setting the tone:  Negotiations commence with exchange of pleasantries. At some point of time one has to make the first offer. The significance of the first offer stems from two reasons - it gives a lot of information to the other party to size your offer against his own target; the other party can adjust his own opening offer to be more or less extreme than planned. It makes sense to let the other party make the first offer if you are unfamiliar with the negotiating.  
  • Concessions: Concessions are trade-offs that a party is willing to make, usually with the expectation that the other side will respond kindly and in the same degree. Figure is an example of this. However, price is not the only issue in most negotiations. Several issues may be involved. Very competitive negotiators tend to negotiate one issue at a time by pushing for the best deal in that issue and only then move to the next. More talented and cooperative negotiators seek to package issues together, because in the end, it is the whole deal that is important and not the best deal on each issue. This is called „packaging the concessions?. Concessions affect both tangible and intangible outcomes - the intangible outcomes being reputation and esteem. Even if you are winning the overall negotiation, it is easier to maintain your reputation and image if you manage to give the other party some wins to go with, which gives him the feel-good factor.  

Related Discussions:- Questions and answers while going for a negotiation

Quality definition, Q uality definition The  initial  step  of  projec...

Q uality definition The  initial  step  of  project  quality management  is  to  define quality.  The project manager and the team must identify and define the quality standar

reference section-staff activity area of library building, Reference Secti...

Reference Section-Staff Activity Area of library building in library management Reference activity is one of the most important activities of a library and very often it is th

Explain the relationship between treasury and alm, Question 1 Suppose you ...

Question 1 Suppose you are the CEO of MS Bank Corporation. Your bank is facing interest rate risk which has affected its operation significantly. Explain the factors that influenc

Organization of petroleum exporting countries (opec), Organization of Petro...

Organization of Petroleum Exporting Countries  (OPEC) This is the most important international commodity group (ICG) in the world. It is the model of a successful internationa

Output of quality assurance process, O u t put of quality assurance proc...

O u t put of quality assurance process The outputs of quality assurance process are: O rganisational process assets updates: elements of organisational process ass

Case studies in Public sector Management, Writing a case report analysis on...

Writing a case report analysis on public sector management

Write short notes on cost plus fee contracts, Question 1 Fixed price contr...

Question 1 Fixed price contracts have a preset price that the vendor must adhere to in performing the work and in providing materials. There are different kinds of fixed price con

Define the concept of bilateral tourism, Question: In recent decades, t...

Question: In recent decades, tourism has emerged as one of a small group of service industries that increasingly dominate the global economy. However, the structure and sig

Advantages and disadvantages of stock verification, Advantages and Disadvan...

Advantages and Disadvantages of Stock Verification Some of the advantages  and disadvantages of stock verification are listed in this section.  Advantages  •  By revea

Explain critical ethical issues facing knowledge management, QUESTION (...

QUESTION (a) What are some of the major types of Knowledge Management roles that exist in organizations today? (b) What types of competencies should be present in a good Kno

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd