Page 130 - DMGT519_Conflict Management and Negotiation Skills

Conflict Management and Negotiation Skills

Notes the difference of large sums of money, or of a corner office and a great job, or getting a great deal
on a new car. Learning how to negotiate for what and how much you want can lead you to many
great things in life, but it takes a dedicated student to master. Here are four effective negotiation
techniques and strategies.

Be Respectful, and Be Prepared

One of the most important strategies when entering negotiations is to show respect both during
the course of discussion and through ample and thorough preparation work. Show up to a
negotiation well-prepared, with all of the facts, figures and data that you require to make a
strong case for your point of view will not only help influence your counterpart, but it will show
that you value their time and their participation, and that you have put considerable forethought
into your planning.
Clearly Define Your Goals Beforehand

Before entering any negotiation, whether it’s to close a deal, discuss salary or purchase a car, as
part of your preparation, clearly and effectively define to yourself your goals for the negotiation,
and delineate what you want to get out of it. By going into negotiations with your goals clearly
defined in your head, you will be able to keep your eyes on the prize and not allow your
counterpart to cloud your head or distract you.
Be Flexible

The Japanese parable of the strength of a tree branch applies as well with the art of negotiation.
The parable reads that a branch that bends can withstand great force, a branch that is rigid and
inflexible snaps under the slightest breeze. As part of your prep work, plan out all of the areas
where you can safely yield your position to your counterpart. This will not only make you seem
magnanimous and willing to deal, it will likely foster enough good will in your counterpart to
convince him to “trade” something of his that you will want.

Avoid Domineering Theatrics

We’ve all seen those movies where the tough as nails negotiator enters the room, refuses to
budge an inch, and goes into an angry outburst that scares the other party and convinces them to
give up everything. That negotiation strategy doesn’t work in the real world. Such techniques
only lead to a swift end to negotiations and no one gets anything. Calmness is a good negotiation
skill to develop in the board room.

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Case Study The Panama Canal Negotiations

he completion of the Panama Canal is one of the world’s great engineering feats.
The negotiations to complete and build this vital connector between two oceans
Tspans decades. The cost in human lives, suffering, and capital staggers the
imagination. It all began in 1847 when the United States entered in a treaty with New
Granada (later to be know as Colombia), and which allowed the U.S. a transit passage over
the Isthmus of Panama. The treaty guaranteed Panama’s neutrality and recognized that
Colombia would have sovereignty over the region.

Contd....

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