ADDING VALUE THROUGH NEGOTIATION

ADDING VALUE THROUGH NEGOTIATION

1. Negotiation Analysis: Know the Situation, Yourself, and Your Opponent

   • To reach a mutually acceptable agreement negotiation parties have to cooperate with and understand each other.

2. Planning and preparation for effective negotiation

   • The first, and often the most important step toward successful negotiation is planning and preparation.

3. Analyze the negotiation context: Opportunities and constraints

   • Identify the negotiation parties.
   • Define the issues
   • Understand the underlying interests.
   • Consider alternatives
     • Determine the target/aspiration and reservation/resistance points.
   • Create a scoring system and sort out preferences.
   • Assess your negotiation style.
   • Practice perspective taking
   • Assess the relationship with the other party.