Question

Negotiating Skills

Negotiation is a soft skill that might just be one of the most important skills you will ever learn. For this Discussion, you will need to view the videos below to prepare for the rest of the Discussion.

MonkeySee. (2009, August 5). How to Negotiate. Retrieved from http://monkeysee.com/how-to-negotiate/

MonkeySee. (2009, August 5). Powerful Negotiating Techniques. Retrieved from http://monkeysee.com/what-are-some-powerful-negotiating-techniques/

MonkeySee. (2009, August 5). Practicing Negotiation Skills. Retrieved from http://monkeysee.com/how-can-i-practice-negotiation-skills-that-let-both-sides-win/

Now that you have a little information about how to negotiate, first discuss three concepts that interested you from the videos. Then describe a situation in which you recognized that you entered into a negotiation with another person. How did this go for you?

If it went well, describe the tactics you used that contributed to the success of the negotiation.

If it did not go well discuss the issues you now recognize that caused this outcome. Remember that negotiation should be a win-win situation.

Now go practice this skill and return later in the week to discuss the skills you learned by telling us about the situation, other than purchasing an automobile, the actual negotiation that took place, and how what you learned contributed to your ability to effect an outcome. Also comment on one or two other student responses by giving tips that they might be able to use in the future.

Answer 1

The three concepts that interested me from the videos were:

1) Never accept the first offer: If i suppose accept the proposal at first I would be worse off. The reason for the same would be that if I would have negotiated for the proposal there would have been the possibility that the other party would have brought down the value of the proposal. Hence never accept the first offer.

2)Have the power to walk away: This concept is of great importance when it comes to negotiating. If the other person is not willing to negotiate at all then you can walk away rather than unwillingly accepting the offer. The power of walking away strikes the mind of the other party and forces it to negotiate.

3) Win win situation: In order to do to that you have to step into the shoes of the other party and think what they desire, only then a win win situation can be created. If you set the bar really high hat it is tough for the party to go over it then there won't be any win win situation. On the other hand if you set the standards keepin in mind the demands of the counter party then it would be a successful win-win situation.

Now, coming to the next part of the question, Well recently I also entered into a negotiating situation with a landlord of a flat. I had to purchase a flat on rent so I connected with the landlord of that flat and asked him about the rent he would charge from me. He said Rs. 15000 since my budget was somewhere around 10k-12k I told him to bring him down the rate. But he wasn't willing to do so.

I used the tactic of not accepting the offer at the first instance and used the second tactic of walking away. The landlord on seeing us walking away called us back and asked about our budget for the flat. I told him that maximum I could give to him was 11k at first instance. He straight away said no for the deal. Now it was time for me to negotiate. I thought over it for a while and told him 12k would be the last amount i would pay for the flat.

The landlord agreed to the deal and thus it turned out to be a win-win situation for both of us.