Negotiation: A Toolbox for Managers
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Negotiation: A Toolbox for Managers
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The term "negotiate" is to "confer with another person with a view to compromise or agreement…to arrange or bring about". Thus, Negotiation means taking decision with an objective to create a "win-win" situation for both the parties; for mutual benefit and positive outcome. It also helps to save time, energy, reduce stress, encourage team spirit, enhances productivity and increases profitability. In business Negotiations occurs between an employee and employer, trade union and top management, sales manager and dealers/distributors/bankers and various departments for appropriate allocation of resources.
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The term 'negotiate' is to 'confer with another person with a view to compromise or agreement…to arrange or bring about'. Thus, Negotiation means taking decision with an objective to create a 'win-win' situation for both the parties; for mutual benefit and positive outcome. It also helps to save time, energy, reduce stress, encourage team spirit, enhances productivity and increases profitability. In business Negotiations occurs between an employee and employer, trade union and top management, sales manager and dealers/distributors/bankers and various departments for appropriate allocation of resources. Fundamental Elements of the Negotiation Process '... negotiations commonly follow a four...
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Virender
| Commented
| 2 years ago
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Give and take through passing benefits to either side. benefits could be short term objectives or long term goals. we may do a deal with loss in the first instance so as to make up the losses in further deal. Negotiation happens at every stage in...
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Gargi Sinha
| Commented
| 2 years ago
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Negotiation plays a very vital role in management. A manager needs to be a very good negotiator while doing dealings.
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Whether it’s buying a house, getting the best business deal, disputing your cell phone bill, haggling in a shop, or paying off your credit card, the basic principles of negotiation are the same. Just remember that even the most skilled and experienced negotiators will feel discomfort when negotiating. The only difference is a skilled negotiator has learned to recognize, and suppress the outward signs of these feelings. Here are some useful steps, tips and warnings on how to negotiate like a pro! Steps Decide on your breakpoint (the lowest amount or cheapest price you will accept in the deal, the “worst-case scenario”). If you are representing someone else in a negotiation, get your clien...
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