By noam46
The key negotiation skill required to unlock the best value from complex business negotiation environments is to identify and understand the interests of all the players affected by or participating in the negotiation. In some cases, it is simple to understand both the positions & interests of parties in the negotiation. In most cases, however, it is not only tricky to identify the interests of participants; it is also difficult to identify all the key players.
How to negotiate in complex, multi-party negotiations?
1. Identify all the participants in the negotiation
This may be stating the obvious but in reality, it is often difficult to identify and track all the stakeholders in a negotiation. In a business environment, we should at least attempt to identify the following stakeholders:
a. Financial stakeholders
These are the people or groups that will finance, underwrite or lend authorisation to reach an agreement based on the monetary terms suggested. It is key to identify all potential parties that may have an interest in the purely financial dimensions of the negotiation.
b. User/consumer stakeholders
These are the individuals or groups that will implement and support the outcome of the agreement that is reached. These are the stakeholders that will live and work with the outcome of the negotiations on a day to day basis.
c. Technical & legal stakeholders
These are the parties or groups that will sign off and approve the technical and contractual aspects of the negotiations.
d. Guides/Gurus & other Influencers
These are the people or groups that hold important influence over the pivotal decision makers involved in the negotiation.
2. Identify the interests of each stakeholder in the negotiation
There are basically two ways to identify an individual or group's interest in a negotiation. The first way is to put yourself in that individual or group's shoes and to attempt to see things from his/her/their point of view. What supporting data would you require? What precedents would come into play? What assumptions can you make, and test? The 2nd way is to ask the individual or group a series of questions to help you (and them) to accurately identify their key interests. The most useful question to ask is "Why?" "Why is this negotiation important to you? Why are you assuming this position? Why are these options being explored?"
3. Create a frame that is appropriate for each stakeholder
Having identified the interests of each participant, you should now position the appropriate frame. Different people take decisions for different reasons. It is not useful to highlight the same points to support decision making to all stakeholders. You should focus on communicating the most useful frame to each stakeholder or potential stakeholder.
4. Create an effective management structure for the negotiation
If our counter parties think of us as rational, the odds are significantly increased that they will also respond to us in a rational fashion. We can only present a unified and rational 'front' if we have thought about the roles & responsibilities within our negotiation team. Split the responsibility in the team between those that will manage the Relationship aspects, and those that will manage or be involved in the Task related aspects.
Negotiation skills training teaches us to create an agenda that addresses the interests of all potential participants. A successful way to simplify complex business negotiations is to add structure. We need to focus on the process aspects to ensure that we make progress at every level of the negotiation. You will find that complexity can be managed with the use of an appropriate supporting structure.
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The key negotiation skill required to unlock the best value from complex business negotiation environments is to identify and understand the interests of all the players affected by or participating in the negotiation. In some cases, it is simple to understand both the positions & interests of parties in the negotiation. In most cases, however, it is not only tricky to identify the interests of participants; it is also difficult to identify all the key players.
How to negotiate in complex, multi-party negotiations?
1. Identify all the participants in the negotiation
This may be stating the obvious but in reality, it is often difficult to identify and track all the stakeholders in a negotiation. In a business environment, we should at least attempt to identify the following stakeholders:
a. Financial stakeholders
These are the people or groups that will finance, underwrite or lend authorisation to reach an agreement based on the monetary terms suggested. It is key to identify all potential parties that may have an interest in the purely financial dimensions of the negotiation.
b. User/consumer stakeholders
These are the individuals or groups that will implement and support the outcome of the agreement that is reached. These are the stakeholders that will live and work with the outcome of the negotiations on a day to day basis.
c. Technical & legal stakeholders
These are the parties or groups that will sign off and approve the technical and contractual aspects of the negotiations.
d. Guides/Gurus & other Influencers
These are the people or groups that hold important influence over the pivotal decision makers involved in the negotiation.
2. Identify the interests of each stakeholder in the negotiation
There are basically two ways to identify an individual or group's interest in a negotiation. The first way is to put yourself in that individual or group's shoes and to attempt to see things from his/her/their point of view. What supporting data would you require? What precedents would come into play? What assumptions can you make, and test? The 2nd way is to ask the individual or group a series of questions to help you (and them) to accurately identify their key interests. The most useful question to ask is "Why?" "Why is this negotiation important to you? Why are you assuming this position? Why are these options being explored?"
3. Create a frame that is appropriate for each stakeholder
Having identified the interests of each participant, you should now position the appropriate frame. Different people take decisions for different reasons. It is not useful to highlight the same points to support decision making to all stakeholders. You should focus on communicating the most useful frame to each stakeholder or potential stakeholder.
4. Create an effective management structure for the negotiation
If our counter parties think of us as rational, the odds are significantly increased that they will also respond to us in a rational fashion. We can only present a unified and rational 'front' if we have thought about the roles & responsibilities within our negotiation team. Split the responsibility in the team between those that will manage the Relationship aspects, and those that will manage or be involved in the Task related aspects.
Negotiation skills training teaches us to create an agenda that addresses the interests of all potential participants. A successful way to simplify complex business negotiations is to add structure. We need to focus on the process aspects to ensure that we make progress at every level of the negotiation. You will find that complexity can be managed with the use of an appropriate supporting structure.
Management Coaching - An Excellent Way To Train Your Manager To Make Him/Her Highly Skilled
A good management coaching trains the manager in such a way that they become highly skilled to manage large number of people and business processes. It's like providing a management toolbox for every day management tasks.
Pro Management Coaching: Essential For Busy Professionals
Most employers see professional management coaching as a valuable resource for employees. Many organizations will pay for coaching, or reimburse costs once sessions are successfully completed. This is also valuable to the manager, as it will increase an individuals marketability but does not cost the manager out of pocket.
Online Management Courses Are Your Key To Success
Never before has it been possible for a person to earn a degree without stepping foot into a classroom. As a result of the Internet, people are earning management degrees online and then managing businesses as well.
A Guide To The Project Management Body Of Knowledge: Necessary And Component For Every Business Operator !
A guide to the project management body of knowledge puts everything into perspective, with almost any business fitting the tools and processes offered. Any business will essentially hinge on the basics of initiating or start up, planning, implementing, monitoring or controlling, and finally the final closing of the processes.
Project Management Training: Why It's Vital For Career Improvement Of Both Beginner And Experienced Managers?
Project management coaching refers to practical, hands-on experience for project managers in learning the principles and practices that lead to effective and successful project management.
Performance Training And Management Basics: Five Key Management Performance Techniques For Attaining Your Goal
Everything we do in life, whether we realize it or not, is aimed at achieving some type of goal that we have. It's also like that in the business world - performance management is the method by which business owners and operators meet their business goals.
Management Coaching Training: Receiving External Assist For Develop Inside
It's relatively to commit to regular management coaching training sessions; anyone can do that. But for it to change your life and really transform your career, you have to have an open mind and be willing to consider the advice and opinions of your coach.
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In the competitive job market it is important to make such an impression. With better credentials, better jobs are available. This is why you should familiarize yourself with the management toolbox cd set.
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