Negotiation Journal Research Paper Example | Topics and Well Written Essays - 2500 words

Negotiation Journal - Research Paper Example There are different pointers of what strategy to adopt in an impending negotiation activity. Before choosing a given strategy to use in a negotiation, it is important to consider three main factors. The first factor is extent of valuation of a product, issues or services that cause negotiation to happen. If a given party values an issue, product or service under consideration extremely than relationship, then a win-lose strategy is appropriate. In a win-lose negotiation strategy, relationship is not important and one party of the negotiation will wish to win and does not care of the other party. Win-lose strategy also applies when a party is discussing a fixed position or idea. It is applicable when a price of a product or an idea is fixed. Second factor to consider is the relationship between negotiators. If both parties perceive that they need each other after the negotiation, then win-win negotiation strategy is the most appropriate. In a win-win negotiation strategy, both parties to a negotiation must cooperate, participate or compromise part of their interest to accommodate each other. Both parties to a negotiation agree and discus mutually profitable actions to take. Consequently, both parties benefits after the negotiation. ... Some cultures may prefer win-win strategy while others may prefer win-lose strategy. Win-win negotiation strategy is always possible. It is also one of the most preferred business negotiation strategies available. The purpose of two parties entering into a negotiation is always to benefit from one another. Therefore, it is possible to pursue win-win strategy especially when both parties can cooperate and compromise without incurring any loss. For example, a supplier may agree to reduce a price by a certain percentage and retain some substantial profits. Both parties win because a buyer saves some money and supplier builds a favourable business relationship. At times, win-lose negotiation becomes the only negotiation strategy viable. This is often applicable where a situation or price product is fixed and cannot be changed further because it will result in a loss. Therefore, there will be no room for adjustments and the other party can either agree to the terms of the situation as the y are or forfeit the matter or the product altogether. Win-lose negotiation is always confrontational and each party tries to take advantage of the other party. The forty-eight laws of power can be helpful when crafting a distributive negotiation strategy and tactics. This applies when the other party to a negotiation is confrontational, short sighted, stereotype, aggressive and uncooperative. Forty-eight laws of power can be useful in disarming the other party’s uncompromising stance. However, if the other party is genuinely willing to cooperate, compromise and is interested in long-term relationship, it may not be an appropriate strategy. Therefore, negotiation strategies should be used according to the