Negotiation

When negotiating a deal you, it is important to understand what you are going to negotiate and be sure you are prepared. The goal of negotiation is to get a good deal. In order to come to a win-win conclusion it is important to learn the tactics for an effective negotiation.

Mutual Benefit

The video called "Negotiation: Getting what you want,"  by Margaret Neale, she explained four ways to an effective negotiation. Four steps to achieving a successful negotiation: Assess, Prepare, Ask, Package in order to understand where you are indifferent and what you are going to achieve in the negotiation. Assess the situation in order to change the outcome to get what you want and weight the potential benefits and cost. Next, prepare by understanding what your interests are and understand the interest and preferences of the other party. This will allow you to be prepared by doing your research. Third, ask and engage with the other party. Both sides have information that each other don't have and to share their interests. Last is to package the different issues from each other by proposing solutions by using "If", "Then" language. Using these tactic will lead to do a mutual understanding and both parties will mutual benefit each party.

Separate the people from the problem

In "Getting to Yes Negotiation," an effective negotiation means to separate the people from the problem. Be aware of your emotions as well as the other party's emotions. Perceptions and communication also become a problem. Therefore, active listening and putting yourself in the other's shoes to dealing with the people problem, people techniques, and then with the problem on its merits. In the video the negotiation regarding salary the two parties separate the people from the problem by explaining to each other to focus on the salary and not their relationship. Every time they brought up the relationship, the other party also reaffirms the relationship and focus on the salary. Listening and putting yourself in the other person's shoes helps you understand and make the other party feel respected.

Underlying Interets

In the video “Effective Negotiations,” it teaches you about the process on negotiation and the different strategies and tactics to an effective negotiation. He mentions that negotiation is bargaining for a product or a deal and persuade the other person that it the best thing to do for both parties. It is important that you don’t argue for positions but it becomes a contest of will. According to the video, principled negotiators bargain to seek integrative solutions and focus on the problem rather than the intention and motives. Again they separate the people from the problem. The focus is to come to a win-win situation and focus on what exactly do you want and what benefits your company with and the supplier. This tactic in negotiation is important to reach a compromise.

Using these and other strategies and tactics in my business negotiations will help come to a win-win solution where I will collaborate with the other party and focus on maintaining relationships for future deals. In the entertainment business you need to be able to build ongoing relationships with to be able to continue to work together in future projects.