- PREPARATION:
-thorough preparation is necessary to achieve an optimum outcome in negotiations
-a negotiator should establish firm but realistic goals for the negotiation
-a negotiator should consider the best alternative to a negotiated agreement (BATNA).
- OPENING NEGOTIATIONS:
-an experienced negotiator will use this stage to exchange small talks and get to know more about each other.
GOING TO THE BALCONY:
Going to the Balcony is to take some time out to recover and reconsider.
- EXCHANGING INFORMATION:
the parties will then move on to information exchange in order to ascertain the need and interests of the other.
- EXPLORING OPTIONS:
once all the necessary information has been obtained, the parties can begin exploring various options to find an agreement.
-the parties need to be flexible and creative during this stage.
- AGREEING ON SOLUTIONS:
during this stage the parties start to distribute value.
- CLOSING THE AGREEMENT:
once all matters have been agreed upon, the agreement should be reduced into writing to ensure that there are no misunderstandings.
NEGOTIATION STYLES:
- Competitive bargaining
- Collaborative bargaining
- Principled negotiation
- Passive negotiation styles.
- COMPETITIVE BARGAINING:
is the most aggressive style of negotiating and sees negotiating as creating winners and losers.
-this style of negotiation works best when a fast result is required.
- COLLABORATIVE BARGAINING:
focuses on the parties reaching a mutually satisfactory agreement that meets their respective needs.
- PRINCIPLED NEGOTIATION:
argues that competitive negotiations are inefficient in that they merely result in a series of concessions that often leaves both parties dissatisfied and that the collaborative negotiations do not take into account the possibility of the other party acting with a hidden agenda.
- PASSIVE NEGOTIATION STYLES:
- Yielding
- Compromising
- Accommodating
- Avoiding
