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Lecture

Negotiation -2.docx

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Department
Business
Course
BU121
Professor
Laura Allan
Semester
Winter

Description
 5 Negotiating Strategies None of the four strategies are universally applicable or appropriate 1. Compromise: it is not a viable strategy and good to use it only in the end when you face the last hurdle, and it is the last point before agreement. 2. Avoidance:  Minimal issue  Recognize it may grow in importance  Do it in way that demonstrates investment in relationship  Superior option readily available elsewhere  Objections are a sign of interest: Some audiences are only sitting here with no reaction. But some audience who will argue your side are interest in your content. They consider relationship in the long term. You need to avoid audience just staying here, push them engage in you and ask you question. 3. Accommodation  In significantly weaker bargaining position – no leverage  Can improve leverage with knowledge  How you accommodate is as important as when  “this time around we would be willing to consider…” and don’t make excuses No leverage: don’t have negotiation power or sufficient knowledge, it is one time thing and take responsibility to your relationship. 4. Competition  Opponent not inclined or capable of collaborating  Need senior players in loop to get at true needs  Not worth the effort  Be careful to look for true potential of negotiation They don’t care about collaboration and they consider how you are aggressive with others 5. Collaboration  When situation presents a significant opportunity with capable and willing decision-makers on all sides  Win-win-win: you win because you collaborate; they win because others also collaborate, your relationship win because collaboration is beneficial.  80/20 rule: 80% of your success was drove by 20% times of your collaboration.
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