In the business
world deals are done everyday between respectable organizations. The method at which these deals are
successfully done are through a process we all love and hate called
negotiation. Although this is the known method of completing deals in the
business world, many dread this process simply because of the tug of war
atmosphere that negotiation has the potential to create. With this mindset and
understanding of the subject, many invest time and preparation to offset the
displeasure of the process. After careful research of searching the web, I was
able to find three videos that can add confidence to your negotiation technique
and approach. These include: The Voluntary Life: Entrepreneurship Part 7:
Negotiation, Conducting effective Negotiations by the Stanford Graduate School
of Law and Sales and Negotiation Skills- What do the best Negotiators Do?
In the Voluntary
Life: Entrepreneurship Part 7: Negotiation it covers an array of subject matter
under the umbrella of negotiation. Some of these include taking detailed notes
on the matter being negotiated, being organized with your thoughts and approach
to the matter, making sure both parties are clear on the terms, and having it
set in your mind that money is a small part of negotiating. On the subject of
objective criteria, it stated that when faced with an issue that neither side
will give ground on, it is proper to bring in industry standards or third party
objective views to settle these differences. These tactics can very well aid in
my career by allowing me to understand that even though I want to be
profitable, money can not be the sole purpose to owning an operating my company.
It has to be to do good business that will benefit not only my company but for
the industry.
After viewing Conducting
Effective Negotiations by the Stanford Graduate School of Law, I was able to
walk away with a better understanding of the application of applying good
tactics of negotiation. It stated that a majority of business negotiations are
done on the bases of price, alternative terms, time frames, warranties and
remedies. It discussed ancient methods of negotiations like dragging the
negotiation out, disagreeing at the last minute and using a strategy called the
bathroom technique, which is constantly feeding your opposing side food and
beverages causing them to use the bathroom. This video also covered BATNA or
the best alternative to a negotiating agreement. It stated that one should know
the other party’s BATNA and know what is important to them. I can apply knowing
the other party’s BATNA to me because coming into a situation knowing what the
other person wants can save a lot of time and energy by avoiding to but heads
on the laid out terms.
In the final video
that I had the pleasure of watching, Negotiation Skills- What do the best
Negotiators Do?, covered the standard subject matters of negotiation but what
really stood out to me was the handling of adversarial techniques of
negotiation or handling dirty tricks. These steps included: recognize the issue,
raise the issue explicitly, find options for mutual gain and use principles.
The most common of dirty tricks include deliberate deception, psychological warfare
and positional pressure tactics. To carefully maneuver around these tactics you
must recognized them and do not allow them to do what they are used for, which
is throw you off your game.
