By noam46
A critical negotiation skill in your purchasing negotiations is how you go about deciding your objectives.
I would like to provide you with 3 key points that we cover in our negotiation skills training workshops to consider when you are preparing for your negotiations.
1. What is the absolutely best result for you in this negotiation?
What would a absolutely wonderful deal (one that you would be very happy to agree to) look like?
We call this your aspiration base - in other words, the level at which you will aspire to close the deal.
You should remember that it is important in your negotiation to always ask for a little more than you would like to receive. This means that you must always have an aspiration base that is higher than your desired objective. By asking for a little more than you would like to receive you allow yourself to make a concession to your counterpart in return for a counter concession.
On the upside, you may just get what you regard to be ideal if you ask for it! Don't fall into the trap of making decisions on behalf of your counterpart by saying to yourself they will never go for that .Take note that I am not advocating that you make extreme requests - extreme requests are highly risky and dependent on the cultural environment within which you are negotiating.
2. What is the absolutely minimum acceptable outcome for you in this negotiation?
At what point will you decide to end or suspend your negotiation?
If you do not decide on a specific stage at which it will no longer be realistic or attractive for you to reach agreement, then you may become susceptible to reaching an agreement that you will not be able to live with. This is critical to do as you could easily become emotionally committed to closing a transaction at all cost because you may think that your individual reputation is at stake.
3. What do you think are the aspirations and minimum acceptable transaction levels for your counterpart?
It is also important that you contemplate the aspirations and minimum acceptable deal levels from your counterparts perspective. This will never be an exact science but through proper preparation and investigation of supporting information you may be able to get a good idea of what kind of deal is the standard in your line of business or kind of negotiation.
By thinking about the aspirations and minimum acceptable transaction levels from your counterparts perspective, you will be able to identify the agreement range. Knowing the agreement range or zone of possible agreement (ZOPA) will help you to see if a deal is possible or not.
Most negotiation training courses will teach you that the bargaining range is defined as the area of overlap between your minimum acceptable deal level and the minimum acceptable deal levels of your counterpart.
Remember that most of your success at the negotiation table is dependent on the quality of your planning. You should spend at least as much time preparing for negotiations as you expect to be busy negotiating. If you expect to be in negotiations for a day, then you should spend at least the same time in preparations.
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A critical negotiation skill in your purchasing negotiations is how you go about deciding your objectives.
I would like to provide you with 3 key points that we cover in our negotiation skills training workshops to consider when you are preparing for your negotiations.
1. What is the absolutely best result for you in this negotiation?
What would a absolutely wonderful deal (one that you would be very happy to agree to) look like?
We call this your aspiration base - in other words, the level at which you will aspire to close the deal.
You should remember that it is important in your negotiation to always ask for a little more than you would like to receive. This means that you must always have an aspiration base that is higher than your desired objective. By asking for a little more than you would like to receive you allow yourself to make a concession to your counterpart in return for a counter concession.
On the upside, you may just get what you regard to be ideal if you ask for it! Don't fall into the trap of making decisions on behalf of your counterpart by saying to yourself they will never go for that .Take note that I am not advocating that you make extreme requests - extreme requests are highly risky and dependent on the cultural environment within which you are negotiating.
2. What is the absolutely minimum acceptable outcome for you in this negotiation?
At what point will you decide to end or suspend your negotiation?
If you do not decide on a specific stage at which it will no longer be realistic or attractive for you to reach agreement, then you may become susceptible to reaching an agreement that you will not be able to live with. This is critical to do as you could easily become emotionally committed to closing a transaction at all cost because you may think that your individual reputation is at stake.
3. What do you think are the aspirations and minimum acceptable transaction levels for your counterpart?
It is also important that you contemplate the aspirations and minimum acceptable deal levels from your counterparts perspective. This will never be an exact science but through proper preparation and investigation of supporting information you may be able to get a good idea of what kind of deal is the standard in your line of business or kind of negotiation.
By thinking about the aspirations and minimum acceptable transaction levels from your counterparts perspective, you will be able to identify the agreement range. Knowing the agreement range or zone of possible agreement (ZOPA) will help you to see if a deal is possible or not.
Most negotiation training courses will teach you that the bargaining range is defined as the area of overlap between your minimum acceptable deal level and the minimum acceptable deal levels of your counterpart.
Remember that most of your success at the negotiation table is dependent on the quality of your planning. You should spend at least as much time preparing for negotiations as you expect to be busy negotiating. If you expect to be in negotiations for a day, then you should spend at least the same time in preparations.
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.
Management Coaching Gives Your Business An Edge Over Your Competition
Many companies fall into the mistake of hiring someone who has managed people before, and assuming that, since they're an experienced manager, they don't need any more help. Nothing could be further from the truth.
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 Programs: A Valid Management Focus That You Require
Project management training entails training the personnel to work on and manage each aspect of a project so that all resources can be applied to the maximum extent. To manage a project, project management tools can be used by the project manager.
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 Tools - A Useful Tool Set Designed For Successful Project Completion
Management tools are very essential for project managers in order to control and manage the project effectively. Tools from the management toolbox cd set will help by providing an easy way of project monitoring.
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