Negotiation is a process and it is different from a one-day event. Successful negotiators take into consideration various factors in the negotiation process as going to be discussed below. Some of the factors include the following: gather information about yourself and the other party, estimate their RP, know your BATNA, research other party’ s BATNA as well as adopting a suitable style of negotiation (Kennedy 2004). First and foremost, gathering facts as well as the other relevant information related to the subject matter of negotiation is imperative as it works as a guideline towards the attainment of set goals to be achieved.
As far as negotiation is concerned, the negotiator should have as much information as possible about the deal to be negotiated. A negotiator must also have personal information which comprises the strengths as well as the weaknesses to be better positioned to engage in a fruitful negotiation. Collecting this information is also vital in that it better positions the negotiator to know all the facts at hand that may be required to convince the other party to enter into an agreement. This also helps create awareness of the other party’ s information about their operations.
Negotiation for tenders, for instance, has to be approved by a board or other superiors in an organization hence the need to be as authentic as possible so as to avoid taking a biased direction. This is based on a real-life situation hence the need to reflect that the negotiation will be based on real knowledge about the particular subject. Secondly, the negotiator should first conduct thorough research about his or her own best alternative to no agreement (BATNA).
The main advantage of this approach is that the negotiator is endowed with the capacity to make bilateral concessions where necessary which will be based on the facts obtaining on the ground. This stage requires a holistic approach given that it forms the crux of the negotiating process. This helps the negotiator to be better positioned to visualize the attractiveness of the deal compared to the proposals offered.
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