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Negotiations Strategy
| Every organisation must learn to apply a negotiation strategy with all their clients. Discover the four basic questions to ask in your negotiations process before you begin to negotiate. |
The subject of negotiation strategy always generates lively discussion in many round table forums. The majority of organisations and the personnel involved mostly tackle the subject of negotiations in an informal manner. Frequently, "negotiation strategy" is brought up in a cursory manner while traveling in the car or a train while on route to a meeting.
In today's competitive marketplace, it is essential that organisations and individuals approach the subject of negotiation strategy much more stringently. The highest corporate levels is where the negotiation strategy should be initially determined and established. To reduce the ways we deviate and diverge in how we manage our clients, suppliers and primary stake holders, it is apparent that we have to outline a negotiation strategy that establishes a framework as a means by which the organisation can gauge its success. Every negotiation strategy must be able to answer the questions why, what, who and how?
Why?
An example of why might be due to the necessity to increase margins on new business or lower the budget in the purchasing department.
What?
An example of what may entail the need to refuse the extension of discounts beyond10%, or that our negotiators will not offer any concessions without receiving concessions in return.
Who?
One example of who might be to ensure that everyone within our organisation complies with the negotiation strategy consistently with all our clients and suppliers.
How?
An example of how could be to guarantee that a formal strategy is developed and that a process evolves from this strategy. This will ensure that all negotiators are properly trained and provided with the right tools to ensure there is consistency in the application of the negotiation process.
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