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Unit 5: Negotiation

 Be a patient listener: Listen to others as well. Think about their interest and needs as well. Notes
Don’t ask for anything which would not benefit the second party. Don’t jump to conclusions
and never interfere when the other person is speaking. Listen to the other party’s proposal
as well; he might come up with something unique which you could not even think.
 Be realistic: Don’t ask for something you yourself know is not possible. Don’t quote
anything just for the sake of it. One should be a little practical in his approach. Don’t ask
for irrational discounts. Be logical. It’s nothing bad to think about your personal interests,
but one should not be mad for it. If you want to purchase something, also remember that
the store owner has to earn his profits as well.

 Don’t be in a hurry to close the deal: Take your time to discuss things among yourselves.
Make sure you are deciding something which would be a win-win situation for all. Never
drag any discussion and make the conversation too long. Too much of pleading and
persuasion result in a big zero and no conclusion can be drawn out of it.

 Know where to compromise: An individual has to compromise sometimes to come to an
output. If you feel that if you accept some terms and conditions, things would be better
and it would not harm you much, go ahead. Everyone needs to compromise sometimes or
the other. Even in marriages, one partner needs to negotiate with the other for better
understanding.

 Communication is also important in negotiation: Speak clearly and precisely. One should
not confuse others. Playing with words is one of the biggest threats to negotiation. Don’t
use derogatory or lewd remarks against anyone.
 For a third party it’s always better to sign a contract or have something in black and
white so that no body backs out later: It’s always better to sign agreements in the presence
of both the parties for better transparency.

Notes After every discussion and negotiation, emails or minutes of the meeting must be
circulated among all the team members for everyone to get a clear and the same picture.



Caselet Is it Ethical to “Lie or Bluff’ in Negotiations?

he answer, of course, is that it depends on one’s values, one’s culture, and the
situation. The issue is not to confuse bluffing with misrepresentation. In our culture,
Tour “rules” forbid and should penalize outright lying, false claims, bribing an
opponent, stealing secrets, or threatening an opponent. While there may be a fine line
between legitimate and illegitimate withholding of facts, there is a line and again we are
distinguishing between the careful planning of when and how to reveal facts vs. outright
lying. Bluffing, while it may be employed, does entail risk. You may lose credibility or it
could get out of hand. It is also dangerous ground to tread if you carry it out with people
with whom you will have a continual relationship. While bluffing may be expected, our
culture does not condone outright lying.

Source: http://polaris.umuc.edu/~bgoodale/admn628/0402/lesson8.html

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