Negotiation
in Business World
In todays business word each and every
activity which related to business has been observed and led
to development, in this century negotiation has been coming up topic in
corporate sector which can lead to enhance the business productivity.
Negotiation can be defined as a channel
of communication intended to reconcile differences between parties and to
settle conflict jointly. The parties aim at achieving a win-win position.
Business Negotiations requires a lot of
homework, such as asking what is the need of negotiation, who all are involved,
what are their view points, what are your aims, what is expected from
negotiation, etc.
Negotiation involves minimum of two
parties. The aim of negotiation is understood by both parties. The parties are
willing to arrive at a mutually agreeable outcome. The outcome is acceptable to
both parties.
Negotiation plays an important role from
small business to international affairs. Arguably, using the proper tactic in a
negation brings about a more desirable negotiation outcome than using an
improper one. However, many factors influence negotiators’ tactic choice, which
makes a proper negotiation tactic according to the negation setting more
precious.
Among the many factors affecting negotiation tactics, power is one
of the important ones. As one of the basic concepts in social science (Russell,
1938), power is present in almost every context, from parent-child dynamics, to
work-related environments to international conflicts (Keltner, Gruenfeld &
Anderson, 2003).
Especially, power has been considered one
of the most important factors in negotiation (De Dreu & Van Kleef, 2004;
Magee, Galinsky, & Gruenfeld, 2007; Pinkley, Neale, & Bennett, 1994).
The effect of power on negotiation has been studied in a considerable number of
studies.
However, a newly-developed theory of
power (Situated Focus Theory of Power) suggests a new direction of how power
could influence the way people negotiate – since the effect of power on
people’s behaviour depends on certain situations (Guinote, 2007, 2010)
References
De Dreu, C. K. W., Weingart, L. R., &
Kwon, S. (2000). Influence of social motives on integrative negotiation: a
meta-analytic review and test of two theories. Journal of Personality and
Social Psychology, 78(5), 889.
Guinote, A. (2007a). Behaviour
variability and the situated focus theory of power. European review of social
psychology, 18(1), 256-295.
Keltner, D., Gruenfeld, D., &
Anderson, C. (2003). Power, approach, and inhibition. Psychological Review, 110(2),
265-284.
Russell, B. (1938). Power: A New Social
Analysis. London: George Allen and Unwin.
In the modern world, negotiation is a difficult subject. Because if you don't negotiate with customers, you can't improve your business. Negotiation is a process where two or more parties with different needs and goals discuss an issue to find a solution that is acceptable to both parties. Good negotiation contributes to the success of the company. This is a topic of interest.
ReplyDeleteNegotiating needs both give and take. You should try to make the experience agreeable for both sides. If your negotiation is successful, both parties benefit from the arrangement. Whatever of the differences in party goals, your approach should develop good motives Thanks to Share
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ReplyDeleteNegotiation is process in which two or more parties who have deferent preferences must make a joint decision and come to an agreement.good article. Thanks for sharing.
ReplyDeleteNegotiation reduces job stress and violation inside the working environment. Also, it helps with industrial peace. Identifying the most effective and efficient decision to agree with is the most suitable way. Ideas must be observed, discussed and analyzed. Interesting topic.
ReplyDeleteReally interesting topic and you have explained it very clearly. If it is a business it means negotiation. If there is no negotiation between both suppliers and providers simply can say there is no business. So this is a good topic to study and thank you for sharing.
ReplyDeleteAn interesting topic. Negotiation is a key point to success of modern business world. In order to maximize the profit range there should be a negotiation. Really good article with useful points.
ReplyDeleteTechnology is advancing rapidly in the business world. However, some things are always the same. Negotiation skills are more important than ever. Why is negotiation important? Good bargaining skills can mean the difference between beneficial compromises and losses. Especially in the business world, there is always a conflict between life and the ability to solve it. That's why negotiations are so important in business
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