The importance of negotiation

Introduction This paper critically evaluates the impact of power and trust on negotiation and decision-making. These phenomena, however, are broad, complex, and often defined so abstractly that their importance may escape our attention. This paper therefore advocates a more nuanced understanding of power and trust in negotiation and decision-making.

The importance of negotiation

It is better to discuss things and reach to an alternative benefitting all. Issues must not be dragged unnecessarily and efforts must be made to come to a conclusion involving the interests of all. No point in being adamant and rigid.

One should strive hard to negotiate with each other and consider the needs, interests and expectations of all. Negotiation is essential everywhere. It is not only the corporates where negotiation is important but also in our daily life.

We all must try our level best to adopt negotiation skills to avoid misunderstandings and lead a peaceful and a stress free life. Let us understand how negotiation is important in daily life: We all need to compromise with each other to some extent to avoid disagreements at home.

Situation 1 Terren negotiated with Peter that if Peter gives him the larger share, he would probably finish all his marketing assignments to which Peter gladly agreed as now he could enjoy his weekend with his friends.

The importance of negotiation

It was also a win win situation for Terren as now he could relish his favourite cake. Situation 2 Terren fought terribly with Peter over the cake and neither Terren nor Peter could enjoy the cake.

They spoiled the evening and got a good scolding from their parents as well. Situation 1 is anyday a better option as both Terren as well as Peter could get whatever they wanted. The negotiation benefitted both of them and reduced the chances of disputes between the two brothers.

Negotiation also helps in effective buying. Every individual needs to save money for the rainy days. One must try his level best to negotiate with the second party to reduce the costs to the best extent possible.

If you do not negotiate well you will end up spending more than required. Always remember the shop owner keeps a profit margin on almost all selected products.

If you intend buying some expensive brand, it is better to check out the prices of its competitors as well. Negotiation is important but do not forget to be polite and dignified. Convince the shopkeeper as to why the price of a particular item should be a little less than what he has quoted.

Discuss with the store owner. He will feel happy after all he needs to sell his products and even he looks forward to a loyal customer. It is better if both the parties negotiate with each other and come to a price which would satisfy both of them.

The customer as well as the store owner. The customer would afford to buy his product at a reasonable price and the store owner would also manage to earn his profits. Ask for discounts when you go out for shopping.

Negotiation reduces conflicts and improves the relation among individuals. We are human beings and unlike animals we live in societies and need people around. It is okay if your next door neighbour has parked his car in front of your house. You might even need him some day. Try to understand the other person as well.

An individual must learn the skills to an effective negotiation to lead a happy and a peaceful life. Life is short and one must enjoy each and every moment of it. Why to unnecessarily fight with each other and complicate issues? Negotiation is essential for better bonding among individuals, lesser conflicts and a happy life.Jun 30,  · About the Author.

With more than 15 years of small business ownership including owning a State Farm agency in Southern California, Kimberlee understands the needs of . The Importance of Negotiation In a Business Good negotiation skills can never be overlooked for running a business successfully.

Whenever you are running a business, a major part of what you do will involve transacting with other people. Motivation is a very important for an organization because of the following benefits it provides: Puts human resources into action Every concern requires physical, financial and human resources to accomplish the goals.

Various types of power can influence the outcome of a negotiation. I emphasize the word can because if you have power but don’t use it, your power is of no value. The following are a few types of power that can be significant in the negotiating process: It’s important to take the time prior to a negotiation to research facts and.

Student leadership is arguably the most beneficial extracurricular activity a person can perform while in college. Though there are no grades and zero credits to earn, the experience gained from a leadership role will be valuable for a lifetime.

A. David explains these negotiation skills eloquantly and in a common sense manner,you don`t look as a negotiation as the same way as an argument that must be won at all costs but just like an argument it`s in your own interest if you know exactly where the other party is coming from and showing respect for the other persons interest, regardless of whether you actually agree with them or not.

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