Identifying Opportunities for Negotiation

Identifying Opportunities for Negotiation

Negotiation can occur in any business situation, or in everyday situations outside of the workplace. It is important to identify the opportunities for negotiation to not only fulfill one’s own needs but also to effectively satisfy and meet the needs of the various stakeholder involved in the decision making process.

In our daily lives, negotiation can take place between a buyer and a seller while purchasing new furniture, or which dress to wear for the party. Organization negotiation includes deciding a new product to launch in the market, management and staff discussions to discuss job priorities and workload. Good negotiation skills are beneficial to both individuals and businesses.

Benefits to Individuals

• better outcomes from negotiating situations
• resolving differences of opinion without bad feeling
• a better understanding of other parties’ aims, motivations and beliefs
• creating better business relationships less stressful negotiations

Benefits to Businesses

• reduced costs and overheads through better deal making
• more opportunities for business development
• avoidance of the cost of failing to make crucial deals
• better relationships with stakeholders and other involved parties
• more positive and less stressful work and business relationships

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