06,Feb 2024
Negotiation does not just happen with the client but it happens with other parties, and counsel who is fighting the case against you, and nonetheless, it happens with the judge as well to grant the relief in your favour. There are several strategies to develop negotiation skills such as reflecting on past negotiations, learning the ways to create value, establishing emotional intelligence skills, etc.
Mastering Negotiation Skills: Explained by Experts from the Center for Learning and Development - watch the video!
The term negotiation refers to a strategic discussion intended to resolve an issue in a way that both parties find acceptable. Negotiations involve give and take, which means one or both parties will usually need to make some concessions.
Negotiation can take place between buyers and sellers, employers and prospective employees, two or more governments, and other parties. Here is how negotiation works and advice for negotiating successfully.
Negotiation involves several different steps depending on what you are negotiating and with whom. However, some common process of negotiation is discussed below.
Preparation can include finding out as much as you can about the other party and their likely point of view. Let’s say you are negotiating a case, then you must find the case-related information as much as possible and also the other party's point of view.
It will help you make a persuasive case. Also, consider bringing testimonials from friends, colleagues, and coworkers if that helps you to buttress your case. Hence, preparation is considered one of the most important steps in the negotiation process.
Once when you are prepared for the negotiation, you are ready to deal with the other party. They may have probably prepared themselves for the case as well if they are smart enough. Thus, this is a point where both parties present what want to offer and what they want.
Both sides can begin negotiating after preparing and exchanging information. Being interested in the other person's perspective and avoiding dismissive or combative behaviour is crucial to this phase of the negotiation process. Both parties must be willing to make some concessions to negotiate well, and an aggressive relationship is probably less productive than a cooperative one. Additionally, keep in mind that negotiations might take some time, so avoid rushing things or letting yourself be pressured.
Closing the deal is the final step in the process of negotiation. Closure of the deal should either be in the verbal or written agreement.
Some common skills of a good negotiator include good listening, composure, expression, and the ability to compromise. Apart from this, there are certain terms you should know if you want to be a good negotiator such as ZOPA and BATNA.
ZOPA stands for Zone of Possible Agreement. The term has been taken from the business world. It is termed as a way of thinking where the positions of the parties to a negotiation overlap.
Another concept from the corporate sector is BATNA. In general, it refers to the next move a negotiator could make that negotiation is unable to reach a mutually agreed conclusion. Experienced negotiators often know what their likely BATNA would be before entering a discussion.
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