BUSINESS

NEGOTIATION
Tactics or strategy of negotiation

•Manage your emotions. ...

•Consider leading the discussion. ...
•Use silence effectively. ...
•Ask for advice. ...
•Consider involving an arbitrator. ...
•Know when to compromise. ...
•Request sufficient time.
distributive negotiation

Distributive negotiations occur

when two parties with opposing
goals compete over a set value
Integrative negotiation

Integrative negotiation involves

cooperation between the two groups
to integrate interests, create value,
and invest in the agreement
Developing negotiation style

Developing a negotiation style is an

ongoing process that requires
continuous learning, practice, and self-
reflection.
ESTABLISHING TRUST-
BUILDING RELATIONSHIPS
 Power

the determination of power in a

negotiation depends on various
factors and can shift throughout the
negotiation process as circumstances
change.
For example BATNA, Resources
Information, Social capita, and time.
etc
 PERSUASION
Persuasion is the act of convincing
someone to think, believe, or act in a
particular way.
persuasion is a critical element in
negotiation, as it can be used to build
relationships, communicate value,
overcome objections, find common
ground, and achieve compromise. By
mastering the art of persuasion,
negotiators can improve their chances
of success in a wide range of
negotiation scenarios.
Ethics
 Creativity

Creativity can play an important role

in negotiation by helping negotiators
to identify and develop innovative
solutions that can benefit all parties
involved.
 Problem solving skills

Problem-solving skills are essential in negotiation

because negotiations often involve identifying and
resolving issues or conflicts between two or more parties.
DECISION TRAP
Decision traps can be a common occurrence in
negotiation and can impact the outcome of the
negotiation. Here are a few examples of how
decision traps can arise in negotiation
Anchoring trap, Overconfidence trap, Sunk cost
trap, Confirmation bias trap, and Escalation of
commitment trap
Multiple parties negotiation

Multiple parties negotiation, also known as multiparty or

group negotiation, involves more than two parties
negotiating to reach a mutually acceptable agreement.
This type of negotiation can be more complex than two-
party negotiation, as it involves multiple perspectives,
interests, and goals.
Coalition

A coalition is a group of two or more parties that come

together to achieve a common goal. In negotiation,
coalitions can form between parties with similar interests
or goals. A coalition can increase the bargaining power of
its members and create a united front in negotiations.
 team

In negotiation, teams can represent a single

party or multiple parties. A negotiation
team may include individuals with different
areas of expertise or perspectives. The
team may have a designated leader or
spokesperson who communicates on behalf
of the team.
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