To be sure, we all spend much of our professional and personal lives negotiating and managing conflict. As organizations become less hierarchical, less based on positional authority, and with far fewer clear boundaries of responsibility, conflict – or at least differences of opinion – will likely become an even greater component of our work lives in the future. Studies have shown that negotiation skills are among the most significant determinants of professional success, and while you could say that negotiation is a bit of an art, there are specific techniques that anyone can learn. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay What is Negotiation? Negotiation is the art of working with a person or group with different points of view in order to produce a mutually beneficial agreement. Negotiations are formal discussions between people who have different goals or intentions, especially in business or politics, during which they try to reach an agreement. Negotiation is a technique used by people to resolve differences. It is a mechanism through which an agreement or compromise is reached in others to avoid contention and controversy. The process of discussion to arrive at an agreement between different parties, each with their own interests and preferences, can also be labeled as Negotiation. Negotiation ensures a give-and-take decision-making process involving various parties with different opinions and preferences. According to ROBBINS; Negotiation is a process in which two or more parties exchange goods and services and attempt to agree on the exchange rate for them. The degree of alignment of the parties' interests can facilitate the range and type of outcomes generated for resolution. Furthermore, negotiation also occurs in non-profit organizations, government branches, legal proceedings, within and between nations, and in personal situations such as divorce, marriage, parenting, and daily life. Personal interests are always involved in negotiation as they are always front and center, but they should not hide either party from the interests of the other. Therefore, negotiation is not a zero-sum game, where people strive to outwit others to get the best possible deal at the expense of their opponent. It is not persuasion, in which the persuader triumphs over the convinced. Characteristics of Negotiation • Two parties • Predetermined objectives • Expectation of an outcome • Parties willing to change their positions • Parties should understand the purpose of the negotiation. Reasons for Negotiation • Reaching an agreement • Making a point • Resolving an argument • Compromising • Beating the opposition in case of positional negotiation Types of Negotiation 1. Distributive Negotiation – (win-lose situation) The most distributive characteristic is that it operates in a zero sum game. The gain gained by one person is a loss suffered by the other person. All parties involved in the negotiation indicate the point at which the agreement will be made. The Seller's goal is to negotiate the highest possible price; the buyer negotiates the lowest possible price. 2. Integrative Negotiation – (Win-Win Situation) Integrative bargaining (also called interest-based bargaining) is a negotiation strategy in which the parties work together to find a “win-win” solution to their dispute. This strategy focuses on developing mutually beneficial agreements based on the interests of the disputing parties. The parties involved cooperate to maximize thebenefits by integrating their interests. All conflicting parties involved in the negotiation process examine the problem together, try to look for alternatives and evaluate them to reach a decision or solution mutually acceptable to all parties. Principles of Successful Negotiation The art of negotiation is necessary in everyday life. However, mastering this art in business is crucial to succeed in our career, because poor negotiations can negatively affect the future of our company or cause us to lose important clients. Even when most negotiation strategies may seem natural, it's not uncommon for people to make mistakes. Luck and charm are not the causes of successful negotiations. Discipline and perseverance, on the other hand, could unlock our ability to get the best possible deal in every circumstance. Ultimately, practice and preparation are what makes a good negotiator. The following are the principles of successful negotiation. 1. Gather your information. Information is the foundation of effective value creation. Without knowing who our counterpart is, it is almost impossible to establish good negotiating points. We must have adequate information about the person or company we are negotiating with, as this helps build arguments for our argument. What is the other party's background and should we also know their interests or hobbies? Awareness of this makes it easier to generate a relationship with them. It is also important to identify the history, context, issues and dynamics of the parties. We must be aware of which issues are important to us and which issues are important to the second or third party, as the case may be. Furthermore, we must identify what our positions are, where our strength lies, and their positions, interests and priorities in the negotiation. In the words of Chester Karrass, the following strategies should be applied in others to gather information accurately for the needed purpose. 2. Build relationships. In managing conflict to reach a resolution, some form of trust is essential and is most important during negotiation. However, trust must be earned, because it does not appear magically or have to do with a chemical reaction. It must be built or developed through relationships and friendship. Like any worthwhile project, building relationships takes time and dedication. But how can we do it? We can start by discovering common backgrounds and interests. In this regard, we can also include in the negotiation individuals who have a common interest with the opposing party in conflict. It should also be emphasized that first impressions count and therefore it is crucial to be aware of our body language, initial statements and dress code. We should also be careful to keep our promises and be reliable. Finally, emotional intelligence comes to the fore when closing a deal. We expose this to avoid appearing aggressive or arrogant when explaining our point of view. We should also use it to manage the other party's emotions through flattery, humor and other methods to break any possible tension. 3. Know your BATNA and that of your opponents. To explain what BATNA (best alternative to negotiated agreement) is, we could say that it is what we will do if we cannot reach an agreement and how beneficial this option will be for us. We also need to know our counterpart's BATNA. Knowing this, we could better understand what the ZOPA of this negotiation will be (Zone of Possible Agreement). By knowing our BATNA we could also define our limit or limit. In other words, the.