Question

The 3 factors of the formal negotiation process that are involved in a win-win negotiation strategy (for Integrative negotiation based on a win-win assumption)

a. Which one do you do best? Explain.

b. Which strategy do you need to improve upon? Explain.

Answer 1

It is an agreement between two to more parties which ultimately aims to reaching an agreement. Although negotiation can be of two types - formal and informal in nature. Formal negotiation mostly involve contracts.  

Negotiation can involve many factors which lead to have it's win win situation. Three of them are -

1. Attitude.
2. Communication.
3. Resources.

a) Attitude -

This factor can determine where the direction of negotiation would go. That means the attitude of a party or both the parties can make the negotiation process smooth. It is important to give preference to other parties too and pay attention to their body language.

b) Communication -

Successful win-win negotiation strategy totally depends upon the effective communication from both the parties. This way all the parties can be satisfied with the process as parties can understand other parties' demand and so they can together come to a conclusion.

c) Resources -

It can also affect the win-win negotiation strategy as quantity of information collected influence the negotiation process. Proper information is needed to carry on the successful negotiation process. Understanding the culture of the parties is necessary.

A) In my opinion, communication can be the most effective one to come to a win-win negotiation strategy.

B) In my opinion, attitude factor needs improvement as people's attitude largely depends upon where the negotiation process goes. So, improved attitude can improve the interactive negotiation process.

Hope this helps :)

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