Negotiation Skills

Pankaj K. Mishra

1
 What is Negotiation?
• A communication to finalize deal
• To find out a solution
• To reach an agreement

2
 Approaches to
Negotiation

• Bargaining
orientation
• Lose-lose
orientation
• Compromise
• Win–win orientation

3
 Bargaining orientation
• Also called win-lose situation
• One party’s victory, other’s loss
• Creates competitiveness and ill will

4
 Lose lose orientation
• A situation where no party is
benefited

Reason:-
Partners ignore one another’s need
thus fail to find out a solution….

5
 Compromise
• The best way if all proposals are not
acceptable.
• Gives partial attainment
• Good option when disputed
resources are limited

6
 Win-win orientation
• Determine the need of both parties
• Develop a list of possible solution
• Choose the most appropriate solution
• Implement the solution
• Follow up the solution

7
 How to prepare for
negotiation
• Understand the people involved
• Know your objective
• Conduct
1. Tactics of negotiation
2. Interpersonal behavior

8
 Four important
principles
1. Aim high
2. Get the other person’s shopping list
3. Keep the whole package in mind
4. Keep searching for variables

9
 Some important tips
• Learn to flinch
• Know that people ask more than they
expect
• Information is useful, collect it all
• Practice at every opportunity
• Maintain your walk away power

10
The point of balance

Point of balance

Area where a deal

Intended
movement will be struck

11
Coming to an agreement
• Have it in writing
• To be signed by both parties
• Respect the deal
• Be in touch, find practical ways for
implementation

12
 Negotiation skills
DO’s
• Do your home work
• Identify your priorities
• Know your top and bottom line
• Be open to wide range of possibilities
• Keep your emotions in check
• Discuss on neutral note first

13
 Negotiation skills
Don'ts
• Don’t manipulate; it creates bitterness
• Don’t browbeat, denigrate or insult
• Don’t accept till you are clear about all
terms
• Don’t celebrate till the contract is signed

14
 Summary
• Adopt best way possible to get
maximum benefit
• See your long time benefits
• Planning and preparing gives an
advantage when negotiating

15
 Wish you all

Happy negotiating
experience!

With Thanks,

Pankaj Mishra 16