Preliminaries Negotiation Scenario Negotiation Represents the Form

¶ … 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, one might decide to make a counter offer to the proposal, explain what is crucial to the deal, or decide to remain silent. 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 and discipline of the members. There should be an adjustment of conflicting interest and professionalism of the team members. With enough information about the other team, it is critical to assemble a team that would cope with the other members on the opposite side of the negotiation table. Members of the team must have knowledge about their limitations while participating in the negotiations.

This includes what they can and cannot do while representing the party in negotiations. The team might adopt some kind of signaling gestures that do not involve physical contacts. The focus of the team should be on the other party rather than who might screw up the deal on the table (Pearl, 2011). Gathering Information about the other Party Knowledge about the other party is crucial in any negotiation.

It allows the negotiating party to know who to put in the negotiation team and what to bring to the table for negotiation. The success of the negotiation depends on the amount of information about the other negotiating party. It is necessary to know the market conditions in relation to the topic of negotiation. It is also beneficial to know the industry trends.