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¶ … Preliminaries
Negotiation Scenario
Negotiation represents the form of argument, discussion, or interaction between two or more individuals or parties with the aim of reaching an agreement or solution to the point of difference (Lewicki, 2006). Negotiations form part of life in relation to the existence of the human race. This is an indication that negotiations are crucial in economical, political, social, and cultural fields. Some of the common negotiation situations include the interview in search for employment opportunity, business contract negotiations, sportsmanship contracts, and sale of products or services. One of the common negotiation scenarios one might encounter in the prospect of business activity is negotiating with unique business agent for the first time. In this scenario, the other party might suggest a compromise. This might be in the form of meeting at half way the price of the commodity. If one manages to be successful in this type of negotiation, it would represent greater achievement he or she had hoped for before the start of the negotiation deal. In this type of scenario,...
This negotiation scenario might occur while purchasing commodities like cars, clothing, or residential structures. Other negotiation scenario might be in the form of conducting negotiations for business merger or sponsorship contracts. These types of negotiations require proper planning and execution.
Assembling Negotiation Team
In case of critical business negotiations, assembling of an effective and efficient negotiation team is the most indispensable element of negotiation. This is because most deals or negotiations suffer setbacks due to mistakes by members of the negotiation teams. This trend calls for critical assembling of the team before executing negotiation. Negotiation team consists of members from financial departments (costs of the deal or contract), legal department (legal aspect of the contract), and development or operational department. There are two crucial points while dealing with assembling the team to participate in the negotiations: diverse interests…
References
Lewicki, R.J. (2006). Mastering Business Negotiation: A Working Guide to Making Deals and Resolving Conflict. Hoboken: John Wiley & Sons.
Pearl, M. (2011). Grow globally: Opportunities for your middle-market company around the world. Hoboken, N.J: John Wiley & Sons.
Dietmeyer, B.J., & Kaplan, R. (2004). Strategic Negotiation: A Breakthrough 4-step Process for Effective Business Negotiation. Chicago: Dearborn Trade Publishing.
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