|
|
Negotiation Skills Training: Getting Ready For And Engaging In Complicated Sales Negotiations Using Best Practice Preparation Techniques
The key negotiation skill required to unlock the best value from complex negotiation situations is to identify and understand the interests of all the parties impacted by or taking part in the negotiation. In some cases, it is easy to understand both the positions & interests of parties in the negotiation. In most cases, however, it is not only hard to identify the interests of participants; it is also difficult to identify all the key players.
How to negotiate in complex, multi-party negotiations?
1. Identify all the stakeholders in the complex negotiation
This may seem obvious but in practice, it is often hard to spot and track all the stakeholders in a negotiation. In a commercial environment, we should at least attempt to identify the following stakeholders:
a. Financial stakeholders
These are the individuals or groups that will finance, support or give consent to conclude an agreement based on the financial terms proposed. It is key to uncover all potential parties that may have an interest in the purely financial aspects of the negotiation.
b. User/consumer stakeholders
These are the people or groups that will execute and support the outcome of the agreement that is reached. These are the people that will live and work with the result of the negotiations on a day to day basis.
c. Technical & legal stakeholders
These are the parties or groups that will sign off and agree to the technical and contractual aspects of the negotiations.
d. Guides/Gurus & other Influencers
These are the people or groups that hold substantial influence over the key decision makers involved in the negotiation.
2. Identify the interests of each participant in the negotiation
There are essentially two methods to identify an individual or group's interest in a negotiation. The first way is to put yourself in that person or group's shoes and to attempt to see things from his/her/their perspective. What supporting information would you need? What precedents would apply? What assumptions can you make, and validate? The second way is to ask the individual or group a series of questions to assist you (and them) to accurately identify their key interests. The most useful question to ask is "Why?" "Why is this negotiation important to you? Why are you assuming this position? Why are these options being explored?"
3. Create a frame that is appropriate for each stakeholder
Having identified the interests of each stakeholder party, you should now shape the appropriate frame. Different people reach decisions for different reasons. It is not appropriate to highlight the same points to support decision making to all participants. You should focus on communicating the most appropriate frame to each stakeholder or potential participant.
4. Create an effective management structure for the negotiation
If our counter parties think of us as rational, the odds are significantly enhanced that they will also react to us in a rational fashion. We can only present a common and rational 'front' if we have considered the roles & responsibilities within our negotiation team. Allocate the focus in the team between those that will manage the Relationship aspects, and those that will manage or be involved in the Task dimensions.
Negotiation skills training teaches us to create an agenda that addresses the interests of all potential participants. A successful way to simplify complex business negotiations is to add structure. We need to focus on the process elements to ensure that we move forward at every level of the negotiation. You will discover that complexity can be managed with the use of an appropriate supporting structure.
The Critical Negotiation Skill Of Planning Efficient Targets For Your Business Negotiations.
How to prepare effectively for successful negotiations by carefully considering the key objectives that both you and your counterpart would like to achieve so as to see whether an agreement is possible or not.
Management Coaching - An Excellent Way To Coach Your Manager To Make Him/Her Highly Skilled
A good management coaching trains the manager in such a way that they become highly skilled to manage large number of people and business processes. It's like providing a management toolbox for every day management tasks.
IT Project Management Applications Advanced Tools
The major source for the standards and techniques of IT project management and all other project management methods is the Project Management Institute (PMI), the main certifying body for project management professionals and clearinghouse for training programs and information in the field.
Executive Coaching Training Will Direct Your Enterprise Onto Success
There is substantial evidence to prove that the productivity of many businesses has increased considerably due to proper executive coaching training programs.
Management Classes Present Hands-On Training To Improve Career
Are you interested in entering the management field? Or perhaps you're already in the field, but are interested in learning about how to become the best at what you do so that you can eventually be at the top of your field. In either case, taking management classes might be an excellent idea.
Employing Interim Managers For Your Business Ventures Is A Proven Strategy For Good Results
Companies seek out interim managers for a variety of reasons. Sometimes, they need to replace a project manager with a problematic track record. Other times, high management turnover rates can plunge high-ticket projects into chaos.
Management Trainers Are An Excellent Management Solution: A Magnificent Strategy To Climbing Up The Corporate Ladder
Another option many managers are choosing are employing the help of management coaches. Coaches are most often experienced managers with practical knowledge. Because these coaches are already successful in the business world, many of them have valuable contacts to utilize.
A Guide To The Project Management Body Of Knowledge: Essential And Element For All Business Proprietor !
A guide to the project management body of knowledge puts everything into perspective, with almost any business fitting the tools and processes offered. Any business will essentially hinge on the basics of initiating or start up, planning, implementing, monitoring or controlling, and finally the final closing of the processes.
|
More Articles
Blogroll
|
