Negotiating is a huge part of life. When we make appointments with others, ask for days off work, or travel the world and bargain at the markets for a trinket, it all involves negotiating. Negotiating is the act of coming to a mutual agreement with others. It's a compromise that you reach that is acceptable to both sides.
When we talk about negotiations in a business situation we have certain terms that can come in handy. Let's discuss some of those...
When you sit down to discuss a situation and negotiate with another party, they will pitch something. Whether it's a price or an idea, a pitch is an offer of some sort. So if you are trying to sell something, perhaps you will a pitch a price of $100 for a TV. Or maybe you pitch an idea for an upcoming project. If the other party isn't 100% happy with your pitch, they can make a counter-proposal. This is when the other party will make some changes to your original pitch. So taking our sales example again, they might make a counter-proposal for your $100 TV, and say they will pay the $100, but would like you to include a 1 year-warranty in this price.
If you are happy with this, you can set up the contract and call it a deal. If not, and both sides can't agree, we can call it a deadlock. This means a decision can't be made, both sides aren't willing to change their offers any further to make a deal. Perhaps you will need to haggle or negotiate further to come to a decision. The main goal of a negation is to come to a win-win situation. This means that both sides are pleased with the outcome of the negation.
In another business situation you might have a meeting about a decision that needs to be made. Perhaps your business is negotiating a deal and there needs to be a vote. You might need a majority vote or a consensus. A consensus is when everyone agrees about something. A majority will only require the people with the most votes, so for example if 5 people vote 'yes' and 2 people vote 'no,' the majority would be for 'yes.'
Now I am wondering...
What kind of business negotiations do you have to deal with at work?
Tell me about your last win-win situation. Whether at work or in everyday life.
Tell me about the last vote you were a part of at work and was it a consensus vote or majority rule? Were you part of the majority or minority and what happen?
How do you prepare for a negotiation?
Tell me about a really important negotiation you recently had.
Last edited by Holly Rowlands; 06-12-2013 at 08:43 PM.
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