Business Skills

Business Skills

1. A successful negotiation requires the two parties to come together and hammer out an agreement that is acceptable to both.

   • Problem Analysis to Identify Interests and Goals
     • Effective negotiators must have the skills to analyze a problem to determine the interests of each party in the negotiation.
   • Preparation Before a Meeting
     • Preparation includes determining goals, areas for trade and alternatives to the stated goals.
   • Active Listening Skills
     • Negotiators have the skills to listen actively to the other party during the debate. Active listening involves the ability to read body language as well as verbal communication.
   • Keep Emotions in Check
     • While a negotiation on contentious issues can be frustrating, allowing emotions to take control during the meeting can lead to unfavorable results
   • Clear and Effective Communication
     • Negotiators must have the ability to communicate clearly and effectively to the other side during the negotiation. Misunderstandings can occur if the negotiator does not state his case clearly.
   • Problem Solving Skills
     • Instead of focusing on his ultimate goal for the negotiation, the individual with skills can focus on solving the problem, which may be a breakdown in communication, to benefit both sides of the issue.
   • Decision Making Ability
     • It may be necessary during a bargaining arrangement to agree to a compromise quickly to end a stalemate.
   • Ethics and Reliability
     • Ethical standards and reliability in an effective negotiator promote a trusting environment for negotiations. Both sides in a negotiation must trust that the other party will follow through on promises and agreements.

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