Answer

Negotiation and Planning

Successful negotiation can be judged based on three factors: it should be efficient; it should produce an agreeable solution; and it should not damage the negotiating parties’ relationship.

Best Practices of Negotiating Techniques

Firstly, negotiation should be conducted in a professional manner. Essentially, one should be punctual and possess all the important information. Secondly, the meeting should be controlled. In essence, follow the agenda and keep time. Moreover, the negotiation should be well-documented. Particularly, the areas of agreement must be recorded, open issues noted (Opresnik, & Opresnik, 2014).

Successful negotiation

Adequate preparation is imperative to ensure that one negotiates from an advantageous position of strength. Significantly, preparation enables a negotiator to predict the negotiation in terms of objections, responses, and reactions. Notably, one should place considerable emphasis on the benefits to the opposing party in order to counteract negative responses. Through this, each party wins.

Additionally, for a successful negotiation, one should prepare options as opposed to ultimatums (Gates, 2015). One important objective of any negotiation is to sustain the parties’ relationship. Consequently, by preparing different options suited to accommodate the interests of both parties a win-win situation can be accomplished.

Moreover, it is vital for the negotiator to know precisely what he/she is negotiating for. Having an explicit idea of the desired outcome enables one to steer the negotiation in the most appropriate direction (Spencer, 2013). Fundamentally, a certain desired outcome is often the focus point of one’s preparation. A win-win situation is accomplished by providing an alternative positive outcome for the other party.

Finally, know the opposition. Primarily, one must learn everything about the opposing party in terms of their desires and their strengths and weaknesses. Through this knowledge, one can negotiate from an advantageous point and aim the process at generating a satisfactory solution for both parties.

Conclusively, negotiation can be designed to suit both parties through mutual gain and subsequently preserve lucrative relationships. Preparation is frequently the most imperative factor for a successful negotiation.

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