Negotiation is carried out after needs have been established and the other party has a high desire to achieve those needs. What is meant by that is if the other party does not perceive a need for our product/service or the solution we can provide, or we have failed to convince/persuade him/her that our offer will meet his/her needs, then negotiation is unlikely to take place.

In business, negotiation is about trading concessions and variables. These can include credit, discount, volume, managing contracts, deliverables, use of internal resources and many other items.

In order to achieve successful negotiations, we must consider our attitude. Negotiators can be divided into two types.

1. The competitive type who wants to win at all costs.
2. The collaborative type who wants to ensure that both parties are happy.

If our intention is to build long-term relationships with our customers, colleagues and suppliers, then we should adopt the second approach.

In this module we will look at the key negotiation skills that will allow us to:

• Truly understand the other party’s needs
• Be able to persuade the other party when we are right
• Develop effective preparation plans
• Be creative and flexible in our approach when trading concessions
• Ensure we use tactics and techniques that secures the right type of outcome for all

(Publisher: Sanderson)