Question

What is negotiation? What are the common negotiation pitfalls? What are the strategies to overcome them?

Answer 1

In layman’s terms, negotiation is a process or discussion aimed towards reaching an agreement, but it is not as simple. Negotiation is a like a game of chess in which the player with best strategy wins. In this process, the negotiator may come across many difficult situations but what is important is his determination and skills. Successful negation calls for positivity even in difficult situations. Sometimes, negotiator lose the agreement or contract just because he/she has been fallen in trap of the other counterpart. Therefore, it is always important to take care of some common pitfalls which mostly comes in the way of successful negotiation. These are-

1. Poor planning of negotiators- They are not prepared on priorities and alternatives and because of this they fall out from the negotiation table. A successful negotiator must know the walk away point.
2. Lack of confidence- Some negotiators are so loud and over confident on their success that result in their humiliation at the last. Negotiators must be confident but not over confident.
3. Neglect Relationship Building- Negotiators give less important to real time connections and this is one of the biggest mistake.
4. Saying too much and fail to ask want you want- Some negotiators ask too much without asking what they actually want. Clear and short conversations are advisable.
5. Failing to pay attention to opponent.
6. Assuming cross-cultural negotiations similar as local negotiations.

Some basic strategies through which these pitfalls can be overcome are-

Good planning on the part of negotiator in terms of alternatives and priorities. He must know the full stop point at which he is not suffering. Confidence and knowledge plays an important role and a good negotiator must possess this. Building interpersonal relationships is very important even with the opponent. Good negotiators speak less and grasp more and answer intelligently.