Page 46 - DMGT519_Conflict Management and Negotiation Skills

Conflict Management and Negotiation Skills

Notes Jack went in a T-shirt and denims for a business deal. The other person assumed that Jack
himself is not serious about the deal and thus did not take much interest in the negotiation.
Smart dressing does not mean wearing expensive clothes; instead it is dressing
appropriately according to the occasion. Prefer wearing formals for business deals and do
not forget to polish your shoes for the desired impact. People do look at your shoes.

 Be Patient. It has been observed that impatient individuals are poor negotiators. Don’t
think that if you want that the price of a particular item should be $4, the shopkeeper will
agree to it immediately and gladly give it to you. You need to convince him and that
requires patience. You can’t lose your temper and shout on him.
 Be flexible and learn to compromise. It’s okay to give priority to one’s personal interests
but one should not be selfish. If you are the first one to accept something, you will not
become unimportant or lose anything, instead the other person would look up to you and
both of you will gain whatever you want.
 One has to trust the second party for a better negotiation. Don’t always find faults in
others. Not all people are bad; there are people who are really good and helpful. One
should not always think that the other person would do harm to him. The second party is
there just to do business; he is absolutely not your enemy. Don’t just come to the point,
start the conversation with a warm smile. If he is wearing a nice shirt, do take the initiative
to give him a compliment. Treat him as a friend. One should never be arrogant. He is also
representing his company just like you. Order coffee and some snacks. It will help in
breaking the ice and strengthening the bond between the two parties. Do remember that
one should not be too casual and over friendly.

 Be professional in your approach. Once your deal is closed, do sign a contract in presence
of both the parties. The minutes of the meeting must be circulated among all the participants
for better clarity. Don’t forget to collect your bills from the shopkeeper after you are done
with your shopping. Don’t only rely on verbal communication.

 Enhance your listening skills for a better negotiation. Listen to the other party as well. He
might come up with something interesting and beneficial to you as well. Don’t think that
the other person doesn’t know anything; even he has come well prepared. One should
never underestimate the second party. If you go for a shopping, don’t ignore the shop
keeper, listen to him and then only decide what to purchase and what not to.

 Be a little tactful and diplomatic. Being diplomatic does not mean being clever. There is
a difference between the two. One needs to be intelligent and should know what to speak
and what not to speak. Analyze the situation and respond accordingly. Don’t speak
something because your boss has asked you to do the same. Apply your brains and react
in an appropriate manner. If you feel your statements would sound foolish in the particular
situation, it is better not to speak.

Did u know? Personality makes us who we are. It influences nearly every aspect of our
lives, from what we choose to do for a living to how we interact with our family to our
choices of friends and romantic partners. But what factors influence our personality? Can
we change our personalities, or do our overall traits remain constant throughout life?

Self Assessment

Fill in the blanks:
1. An impressive .............................. goes hand in hand with good communication for an
effective negotiation

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