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

Force account , Force Account  You have learnt that direct contracting ...

Force Account  You have learnt that direct contracting is used under a limited number or exceptional circumstances without inviting any open bids.  Force account is to make

Government activities - information generation process, Government Activiti...

Government Activities  Information is also generated as a by-product from the activities undertaken by different governmental and non-governmental organisations. The most impo

Negotiations , Negotiations  One of the most important activities perfo...

Negotiations  One of the most important activities performed by the supply managers is to negotiate agreements or contracts with the suppliers. Although supply management is de

Explain the concept behind electronic check, Question: a) List and des...

Question: a) List and describe the role of the different parties involved in any e-payment system. b) Outline five factors (characteristics) that determine the acceptance

Choice of the tps by the consultant firm, Question: A textile manufactu...

Question: A textile manufacturing company would like to implement a system for managing its production. The company does not have any in-house IT staff and has outsourced the c

Explain steps involved in decision making, Question 1: (a) Decision mak...

Question 1: (a) Decision making is the essence of management, and every decision starts with a problem. (i) What is a decision? (ii) What is a problem? (b) Decision m

Subject access to opac, Subject Access to OPAC   The typical OPAC inter...

Subject Access to OPAC   The typical OPAC interaction process requires the matching or crude translation of user vocabulary to system vocabulary. It became apparent that the am

Determine the acceptance of an e_payment method, Question: (a) In what ...

Question: (a) In what way does e_banking differ from traditional banking in terms of its services they offer? Provide suitable examples where necessary. (b) List and explai

Describe talent management system, Problem 1: What is the importance of...

Problem 1: What is the importance of talent management? Describe Talent management Importance of Talent management Problem 2: Describe the five stage approa

Quality assurance, Q uality assurance Assurance is the process of gain...

Q uality assurance Assurance is the process of gaining stakeholders confidence by providing evidence that the quality-related activities are being performed effectively and th

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