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Negotiation Skill - JAGESHWAR DEWANGAN

The 4 P's of negotiation are problem, process, people, and parameters. The problem refers to the central conflict that needs resolution. The process encompasses the sequential steps from defining the problem to reaching an agreement. People includes all those directly and indirectly involved in the negotiation. Parameters are the boundaries that influence decisions, such as a budget. Understanding all 4 P's is important for achieving an optimal outcome in negotiations.

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100% found this document useful (1 vote)
95 views31 pages

Negotiation Skill - JAGESHWAR DEWANGAN

The 4 P's of negotiation are problem, process, people, and parameters. The problem refers to the central conflict that needs resolution. The process encompasses the sequential steps from defining the problem to reaching an agreement. People includes all those directly and indirectly involved in the negotiation. Parameters are the boundaries that influence decisions, such as a budget. Understanding all 4 P's is important for achieving an optimal outcome in negotiations.

Uploaded by

nimmi Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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You are on page 1/ 31

A RESEARCH REPORT

ON
NEGOTIATION SKILL & TECHNIQUES LAB

SUBMITTED BY
JAGESHWAR
DEWANGAN
Roll No. - 502907621007
Enrollment No. – CB3800
In Partial Fulfillment for the Award of the Degree
Of MASTER OF BUSINESS
ADMINISTRATION OF
CHHATTISGARH SWAMI VIVEKANAND TECHNICAL UNIVERSITY,
BHILAI (C.G.)

UNDER THE GUIDANCE


OF DR. ANJANEYA
SHARMA
Professor & Head
Department Of
Management RSR RCET,
BHILAI.

RSR RUNGTA COLLEGE OF ENGINEERING & TECHNOLOGY


BHILAI (C.G.)
SEPTEMBER, 2022
DECLARATION
This is to certify that project report entitled "Negotiation skill & techniques lab" which is
submitted by me in partial fulfillment of the requirement for the award of degree of Master
of Business Administration to CSVTU, BHILAI (C.G.) contains only my original work
and due acknowledgement has been made in the text to all other material used. This
project work has not been submitted to any university for the same.

Date: - 28-03-2023 JAGESHWAR DEWANGAN


ACKNOWLEDGEMENT
I take the opportunity to express my gratitude to all respondents who in some or other way helped me to
accomplish his challenging project in Negotiation skills & Techniques Lab. No amount of written
expression is sufficient to show my deepest sense of gratitude to them. 1 am grateful to Dr. Anjaneya
Sharma, Vice Principal & HOD (Management) and my faculty guide for their valuable guidance and
support on completion of this project in its present shape.

I am very thankful to Miss B. Ramani mam for their everlasting support and guidance on the ground of
which I have acquired a new field of knowledge.

I also acknowledge with a deep sense of reverence, my gratitude towards my parents and members of my
family, who has always supported me morally as well as economically. At last, but not least gratitude
goes to all of my friends who directly or indirectly helped me to complete this project report.

JAGESHWAR DEWANGAN
TABLE OF CONTENTS
S. No Topic Page No.

I.
a. Introduction of Negotiation
b. 4 P's of Negotiation

c. Negotiation Process

II. a. Introduction of Negotiation Skills


b. Negotiation Climate
c. Third party Negotiations

III. Types of Negotiation

IV. Difference between Negotiation & Bargaining

V. Case Study

a. Analysis of Different parameters.

b. Problem statement

c. Positive & Negative Impact

VI. Conclusion
1.A Introduction of Negotiation

1
INTRODUCTION OF NEGOTIATION

Negotiation is a dialogue between two or more people or parties intended to reach a beneficial outcome
over one or more issues where a conflict exists with respect to at least one of these issues. Negotiation is
an interaction and process between entities who aspire to agree on matters of mutual interest, while
optimizing their individual utilities. This beneficial outcome can be for all of the parties involved, or just
for one or some of them. Negotiators need to understand the negotiation process and other negotiators to
increase their chances to close deals, avoid conflicts, establishing relationship with other parties and gain
profits and maximize mutual gains.

It is aimed to resolve points of difference, to gain advantage for an individual or collective, or to craft
outcomes to satisfy various interests. Distributive negotiations, or compromise, is conducted by putting
forward a position and making concessions to achieve an agreement. The degree to which the negotiating
parties trust each other to implement the negotiated solution is a major factor in determining whether
negotiations are successful.

People negotiate daily, often without considering it a negotiation. Negotiation occurs in organizations,
including businesses, non-profits, and within and between governments as well as in sales and legal
proceedings, and in personal situations such as marriage, divorce, parenting, etc. Professional negotiators
are often specialized, such as union negotiators, leverage buyout negotiators, peace negotiator, or hostage
negotiators. They may also work under other titles, such as diplomats, legislators, or brokers. There is
also negotiation conducted by algorithms or machines known as autonomous negotiation. For automation,
the negotiation participants and process have to be modeled correctly.

Many people dread negotiation, not recognizing that they negotiate on a regular, even daily basis. Most of
us face formal negotiations throughout our personal and professional lives: discussing the terms of a job
offer with a recruiter, haggling over the price of a new car, hammering out a contract with a supplier.

Then there are the more informal, less obvious negotiations we lake part in daily: persuading a toddler to
eat his peas, working out a conflict with a coworkers, or convincing a client to accept a late delivery.

"Like it or not, you are a negotiator. Everyone negotiates something every day," write Roger Fisher,
William Ury, and Bruce Patton in their seminal book on negotiating, Getting to Yes: Negotiating
Agreement Without Giving In.

What do these negotiations have in common, and what tools should we use to get what we need out of our
everyday negotiations, large and small?

The authors of Getting to Yes define negotiating as a "back-and-forth communication designed to reach an
agreement when you and the other side have some interests that are shared and others that are opposed."

Others experts define negotiation using similar terms. In her negotiant textbook The Mind And Heart of
Negotiator. Leigh Thompson/Refers to negotiation as an “Interpersonal decision making Process" that is
''necessary whenever we cannot achieve our objectives single-handedly.' and in their book Judgment in
Managerial Decision Making, Max H. Bazerman and Don A. Moore write, “When t' or more parties need
to reach a joint decision but have different preferences, they negotiate.”

2
Together, these definitions encompass the wide range of negotiations we carry out in our personal lives at
work, and with strangers or acquaintances.

DEFINITION-
"The action and the process of reaching an agreement by means of exchanging ideas with the intention of
dispelling conflict and enhancing relationship to satisfy each other's need".

"Back-and-forth communication designed to reach an agreement when you and the other side have some
interests that are shared and others that are opposed."

3
1.B 4 P'S OF NEGOTIATION

4
The 4ps of Negotiation

I. Problem
Problem refers to the situation that warrants negotiation. What is the central conflict, and what
doe each side need in order to resolve it? The problem has to be defined with the solution in
mind. that can only happen once you truly understand what's causing the problem for both sides.
In order to maintain a long-term relationship, you will have to focus on resolving the problem at
hand. Don't worry about who is at fault or who will come out ahead in the negotiation.
Many negotiation training programs concentrate on strategies to win. They are outward-focused
looking at how to make trade-offs, resolve conflicts, or predict the outcomes of specific
scenario5. A negotiator intimately knows their own perspective, but they often don't stop to take
the time ti understand what's at stake for the other person.

2. Process
Process is a set of sequential steps that begins with defining the problem and concludes wits
agreeing. This P is what commands the most attention in typical negotiation training—how is
phone negotiation different from an in-person one? What should you do if someone seem:
unreasonable? How do you make sure that your needs get enough attention in the conversation?
These are all important considerations, but it ignores a vital part of the negotiation process: the
fac that it is a relationship-driven process. There are two sides (or more) to this negotiation, and
the best negotiators take that into account. The process is interactive, and it will inevitably shift.
you cannot use the same tools and techniques for every negotiation. There is no approach that
work; every time.

3. People
People includes everyone involved in the negotiation, either directly or indirectly, from start to
finish. Negotiating is an interactive process where people matter and what influences them
matters. A person's work environment exerts a critical influence on his or her negotiation
style. Most teachings on tools, techniques, and tips overlook differences in people. Work
experience and cultural backgrounds are critical factors that influence one’s approach to
negotiation. Behaviours and communication styles vary around the globe, and people need to
know of the difference and learn to adapt their negotiation styles to each country.

4. Parameter
Parameters are the boundaries that affect decisions. These are often more straightforward than
the other three Ps, but they are no less impactful. A budget is an excellent example of a limiting
parameter. Sometimes parameters are clear-cut, but that doesn't mean that people will react to
them in a direct manner. The desire to win an argument can cloud a person's judgment, and even
the most reasonable parameters can become the target of negative emotions.

5
1.C NEGOTIATION PROCESS

6
The 5 Stages of the Negotiation Process
While there are many approaches to negotiation tactics, there are five common steps that most effective
negotiations follow to achieve a successful outcome:

1. Prepare: Negotiation preparation is easy to ignore, but it's a vital first stage of the
negotiating process. To prepare, research both sides of the discussion, identify any
possible trade-offs, determine your most-desired and least-desired possible outcomes.
Then, make
a list of what concessions you're willing to put on the bargaining table, understand who in
your organization has the decision-making power, know the relationship that you want to
build or maintain with the other party, and prepare your BATNA ("best alternative to a
negotiated agreement"). Preparation can also include the definition of the ground rules:
determining where, when, with whom, and under what time constraints the negotiations
will take place.

2. Exchange information: This is the part of the negotiation when both parties exchange
their initial positions. Each side should be allowed to share their underlying interests
and concerns uninterrupted, including what they aim to receive at the end of the
negotiation and why they feel the way they do.

3. Clarify: During the clarification step, both sides continue the discussion that they began
when exchanging information by justifying and bolstering their claims. If one side
disagrees with something the other side is saying, they should discuss that disagreement
in calm terms to reach a point of understanding.

4. Bargain and problem-solve: This step is the meat of the process of negotiation, during
which both sides begin a give-and-take. After the initial first offer, each negotiating party
should propose different counter-offers for the problem, all the while making and
managing their concessions. During the bargaining process, keep your emotions in
check; the best negotiators use strong verbal communication skills (active listening and
calm feedback; in face-to-face negotiation, this also includes body language). The goal of
this step is to emerge with a win-win outcome—a positive course of action.

5. Conclude and implement: Once an acceptable solution has been agreed upon, both sides
should thank each other for the discussion, no matter the outcome of the negotiation; successful
negotiations are all about creating and maintaining good long-term relationships. Then they
should outline the expectations of each party and ensure that the compromise will be
implemented effectively. This step often includes a written contract and a follow-up to confirm
the implementation is going smoothly.

7
Seven Elements of Negotiations

Unfortunately, most people are not natural-born negotiators. The good news is that research consistently
shows that most people can significantly improve their negotiation skills through education.
preparation, and practice.

Members of the Harvard Negotiation Project developed a framework to help people prepare more
effectively for negotiation. The Seven Elements framework describes the essential tools needed to
identify our goals, prepare effectively to minimize surprises, and take advantage of opportunities as they
arise in negotiation, writes Patton in The Handbook of Dispute Resolution.

Here, we overview the seven elements:-

1. Interests. Interests are "the fundamental drivers of negotiation," according to Patton—our


basic needs, wants, and motivations. Often hidden and unspoken, our interests
nonetheless guide what we do and say. Experienced negotiators probe their counterparts'
stated positions to better understand their underlying interests.

2. Legitimacy. The quest for a legitimate, or fair, deal drives many of our decisions in
negotiations. If you feel the other party is taking advantage of you, you are likely to reject
their offer, even if it would leave you objectively better off. To succeed in negotiation,
we need to put forth proposals that others will view as legitimate and fair.

3. Relationships. Whether you have an ongoing connection with a counterpart or don't think
you'll ever see her again, you need to effectively manage your relationship as your
negotiation unfolds. Relationship dynamics become all the more important when you have
an ongoing connection: future business, your reputation, and your relationships with
others may hang in the balance. You can strengthen the relationship 'taking time to build
rapport and by meeting your own high ethical standards throughout the process.

4. Alternatives and BATNA. Even as we take part in negotiations, we are aware of our
alternatives away from the table—what we will do if the current deal doesn't pan out.
Negotiation preparation should include an analysis of your BATNA, according to Getting
to Yes. For example, a job candidate may determine that she will start applying to grad schools if
a particular job negotiation falls apart.

5. Options. In negotiations, options refer to any available choice’s parties might consider to
satisfy their interests, including conditions, contingencies, and trades. Because options
tend to capitalize on parties' similarities and differences, they can create value in
negotiation and improve parties' satisfaction, according to Patton.

6. Commitments. In negotiations, a commitment can be defined as an agreement, demand,


offer, or promise made by one or more party. A commitment can range from an
agreement to meet at a particular time and place to a formal proposal to a signed contract.

8
7. Communication. Whether you are negotiating online, via phone, or in person, you will
take part in a communication process with the other party or parties. The success of
your negotiation can hinge on your communication choices, such as whether you
threaten or acquiesce, brainstorm jointly or make ruin demands, make silent
assumptions about interests or ask questions to probe them more deeply.

9
2.A NEGOTIATION SKILLS

10
INTRODUCTION OF NEGOTIATION SKILLS
Negotiation skills are inherent qualities that help two or more parties agree to a common logical solution.
In the workplace, you may have to display your negotiating skills in various situations such as:

• Negotiating a salary hike with the HR manager after promotion


• Negotiating a project deadline with your team lead or manager
• Negotiating few days off for a family holiday with your manager
• Negotiating contract terms with a potential customer

Lack of negotiation skills affects the business bottom line and could ruin customer relationship.
Negotiation skills are soft skills and essential to become a negotiator and resolve workplace conflicts.

However, this skill set depends on the work environment, the parties involved and outcome desired.
Often, when one party is ready for reaching a compromise, the other party may be resistant. This makes
negotiation difficult and you are likely to encounter such situations in the workplace. That is why you
need to master your negotiation skills.

BENEFITS OF NEGOTIATION SKILLS

Negotiation is a coveted leadership skill which helps businesses reach their business objective. Here are a
few reasons negotiation skills are essential in the workplace:

 Builds a relationship: Despite the difference in opinion, negotiation skills help strike a solution
and focus more on creating goodwill and value. This builds a long-term relationship.

 Delivers excellent solutions: Good negotiation skills ensure that solutions to the conflicts
are not short-term. It focuses on creating long-lasting solutions because both parties make
a concession only when the solution is satisfactory.

 Avoids future conflicts: As both parties agree to a common solution, the chances of
future conflicts reduce to a great extent.

 Create an environment of business success: Good negotiation skills ensure the


accomplishment of business goals, which creates an environment of business success.
This also increases the chances of future business transaction.

Examples of negotiation skills


Here are a few examples of negotiation skills that can make you an excellent negotiator at the workplace:
11
Communication
Communication is the backbone of negotiation. The way you communicate decides the fate of the
negotiation. It involves identifying the nonverbal cues, using the right words and expressing your
thoughts in a compelling and engaging way. Without being verbose, you need to communicate the right
message to the party. Often, negotiators are active listeners that help them understand the other party's
message. A healthy conversation ensures a mutually beneficial deal and avoids misunderstanding that
could prevent the parties from reaching a compromise.

Strategising
There may be instances where the other party disagree with the solution you provide. Good negotiators
often come with one or more backup plans. Consider all solutions to the problem before entering a
negotiation. For example, when negotiating your salary, the HR manager may refuse to increase your
dearness allowance (DA). Instead of focusing on the DA, you could ask for better retirement or gratuity
benefits.

Planning
Proper planning before the negotiation ensures you know the long-term consequences of the negotiation
terms. Planning comes in handy during the negotiation process and ensures the successful execution of
the decision.

Persuasion
Successful negotiators can influence other parties. Unless you possess the persuasion skills, It
becomes difficult to justify how your solution will benefit both parties. Your persuasion skill decide
whether the other party agrees to your solution.

Listening
Active listening is the key to a successful negotiation as it ensures that you listen to the other party
and understand what they are trying to say. Also, with active listening, you do not miss out on crucial
information, which builds trust and helps reach a consensus faster.

Problem-solving
Most negotiations occur to find a solution to an issue. With excellent problem-solving skills, you propose
viable and intelligent solutions that are beneficial for both parties.

Emotional intelligence
The ability to control and manage your emotions and deal with the other party's emotions differentiates a
successful negotiator from an unsuccessful one. People high on emotional intelligence (EI) can accurately
perceive and express their emotion, recognise others ' emotions an use these emotions to facilitate
solutions.

12
2.B NEGOTIATION CLIMATE

13
NEGOTIATION CLIMATE

Impact Negotiation Climate has substantial impact upon the progress to positive outcomes accordingly
the negotiator should create the climate for negotiation. Climate need to create in very short time.
Sometime it is created in second or minutes. It is affected by past relationship between the parties their
present expectation the attitude, perception & skills they bring to the situation.
Then the negotiating climate is conductive the negotiator will have added responsibilities sometimes this
environment is found hostile. Under the circumstance the following points deserves special reference.

 Stay in Match- Attempts are made to continue the dialogue. If formal talks are not
bringing results go for informal conversation. At a later stage when there is improvement
from the hostile climate, the deal can be discussed again.

 Look for deal makers- As an effective negotiator it is advisable to select the people who
may have positive attitude. The deal breaker should not be put into team of negotiator.

 Tact- The negotiator is the hostile environment is handled with tact’s. Utmost care is used
in looking at the issues. Review process is systematic informal channels of communication
are made open.

14
2.C THIRD PARTY NEGOTIATION

15
For every negotiation that goes well, there is one that crashes and burns. In the last section, we talked
about some of the ways a negotiation can go wrong—one of the parties might have an abrasive
personality, might be from a different culture, or even be unethical. Or perhaps there seems to be no
resolution that will satisfy all parties. Whatever the reason you're stalled in the negotiation process, you
should know that help is available: it's called the third-party negotiator.

If you're surprised that such a "job" as third-party negotiator exists, you'll be even more surprised to find
out that they're pretty common. A judge, a lawyer, and even an agent for a movie star is a third-party
negotiator. Anyone who negotiates on your behalf or listens to your pleas and then decides your fate fits
into the third-party negotiator role.

There are four basic third-party negotiator roles: arbitrator, conciliator, consultant, and mediator. Each of
these third-party negotiator roles provides a specific service for the parties who have employed him or
her, and their services are often situation-dependent. Let's take a look at each role and bow it functions.

Arbitrators

An arbitrator is a third party with the authority to dictate agreement. Arbitration can be voluntary or
forced on the parties of a negotiation by law or contract. The arbitrator's power varies according to the
rules set by the negotiators. He might be limited to choosing one of the party's offers and enforcing it, or
he may be able to freely suggest other solutions. In arbitration, there is always settlement.

Often used in the U.S. legal system, an arbitrator is arbitrator is used in lieu of a judge (though,
technically, a judge is also an arbitrator!). if two people are, for example, involved in a chr accident, they
might agree to use an arbitrator in order to determine a fair amount of repayment for damages caused. In
entering into the arbitrator situation, both parties agree to let that person make the final decision.

16
3. TYPES OF NEGOTIATION

17
TYPES OF NEGOTIATION
The negotiation strategies or approaches to negotiation you use depends on your situation. Most
workplace negotiation are "win-lose" or "win-win". Here are 4 types of negotiation strategies:

Distributive negotiation
It is also sometimes called "hard bargaining" because both parties argue over a single conflict.
Distributive negotiation is a win-lose strategy because each party considers that their loss would benefit
the counterparty. For example, when purchasing a SaaS tool, you may not want to lower the price as it
would cause financial loss, whereas your customer feels you are overcharging them for your product by
not giving discounts.

Integrative negotiation
It is also sometimes called "interest-based bargaining" because it asserts that both parties can gain
something and create value by offering trade-offs. This is a win-win strategy because the negotiation
creates mutual gains for both parties. For example, when purchasing a SaaS tool, you quote the price as Z
2,000 per month, but the customer is adamant about paying only 21,600 per month. Both you may
negotiate 21,800 per month price. It is a win-win situation because both parties win Z 200 per month.

Negotiation with coworkers


Your job may require working closely with different departments and without strong negotiation skills, it
might be difficult for you to reach your goals. For example, when working as a software developer, a test
automation engineer may flag a part of your code as a critical error. When you negotiate with the
automation engineer, you both agree that the error is no longer valid because of the product's changed
functionality. As a result, you develop a plan to ensure such instances do not happen again.

Negotiation with management


One of the most challenging types of negotiation is with your manager or senior management. Often, you
negotiate with such senior-level people for your job duties and salary benefits. This is a crucial
workplace negotiation because your job satisfaction depends on it. Therefore, when negotiating about
your salary and other perks, be clear and polite with what you expect.

18
Difference between Negotiation & Bargaining

19
Negotiation' and 'bargaining' are two different words with different meanings.

The dictionary meanings of these two words are quite the same but certainly not each others’ synonyms.
Now, what follows is the detailed comparison between these words.

Bargaining is only about price


Bargaining is only related to price. Negotiation is not used in connection with the price alone. This term
can also be applied in legal situations where two parties want to come to an agreement.

Usually, bargaining is often done in an informal situation whereas negotiation can be used as a
description for situations other than just 'price and basically for legal scenarios. Moreover, bargaining
which mostly includes verbal communication; negotiation involves a lot of written records as well.

Bargaining is only about winning


As per their definitions and usage, bargaining can be termed as a conversation that aims to reach at a
result where either of the two reaps benefits. Negotiation, on the other hand, aims to reach at a result
where both parties are in a win-win situation. Unlike bargaining where being at the winning side is more
important, here arriving at the right decision is given priority over their personal gains.

Negotiation is sensible
Bargaining is more of a selfish conversation but again, negotiation is a sensible conversation. In
bargaining both the people concentrate on satisfying their desires sometimes without even trying to be
rational.

When negotiating, the parties involved are not concerned about winning or satisfaction of any kind, They
focus more on coming to a solution that is favorable to both.

Debate v/s communication


Bargaining is like debating. The person with good manipulation and verbal skills tend to win in that
situation. Negotiation is a wider term which is actually communication between two parties looking for a
proper settlement.

20
CASE STUDY

21
Hey Ramil:

I forced my fiancée to endure (her words, not mine) your post and videos on negotiating before her recent
job interview.

Using your tips she got a salary $8000 higher than she was willing to accept and 30% higher
Then she was previously on.

So, thanks’ if you’re ever in the UK, I’ll buy you a beer (or two).

Details: About midway through a positive job interview the interviewer pops the question. We had
practiced different scenarios extensively here and done a hell of a lot of research. We had agreed between
us that a baseline figure of £28k ($45.5k) would be about right.

Interviewer – “What are your salary salary expectations for this position?"

Her – “Well first I’d like to learn more about the position and be sure that we're the best fit for each
other.”

At this point the interviewer nods and continues on other topics. Later...

Interviewer – “So, if you’re happy with what we've discussed so far, I’d like to get back to salary
expectations. What would you be expecting for this role?"

Her – “Thanks. I like really like (position). I would especially like to work on (major project). I
noticed looking on your website that you haven't (missing element) - so I can probably help there.
What son of budget did you have in mind for, the role?"

Interviewer – “Marcus, the guy who did the job before you, was earning £29k”

Her – “But now you're looking for someone for more experience and to work on the major client
projects."

Interviewer -Yes, ideally we want someone with more experience and can handle our bigger clients."

Her - "So your salary for this must be significantly higher than what Marcus was being paid?"

Interviewer - "I would have to check I'm not really sure what budget (boss)

Notice how she easily reframes this data point: "I’m more valuable, so doesn't it make sense that
I should be paid more? " And of course it does had in mind.

22
Her – “That’s fine, let me know what your boss has in mind. I have 3 more years of
experience than Marcus and I'm looking for a more senior role than he had, so would expect higher
than that.”

Interviewer – “Ok I need to warn you now. We are on a limited budget and I'll try my best, but I
wouldn't expect much more than that. (Boss) isn't likely to be spending too much more money than what
Marcus was on. Would you be willing to accept £29k just to begin with?”

Her – “I’m looking for a senior (job title) position. So, if that is the role you're offering
and is valued at the right level then I'm very interested. If it's not then there are probably better people
for the position. I have two friends who are looking for (job title) roles. They don't have as much
experience, but would be better if you’re looking at a more junior level.”

Interviewer – “No, we're definitely interested in you. I'll talk to (boss) and see what I can get for you.
We should be able to get back to by the end of the week.”

A few hours later she received a call offering £33,500 per year.

23
SOLUTION
DIFFERENT PARAMETERS OF THE ABOVE CASE: -

1. Salary
2. Skills
3. Experience

PROBLEM STATEMENT

How to do salary Negotiation?

Positive Impact

For Employer — He can get better skill set of Manpower

For Employee- She can get more experienced, she can get better wages.

Negative Impact

Time for Negotiation increases.

May loose good talent for suitable job Position.

24
CONCLUSION

25
CONCLUSION
Negotiation is a technique of discussing issues among one selves and reaching to a conclusion benefiting
all involved in the discussion. It is one of the most effective ways to avoid conflicts and tensions. When
individuals do not agree with each other, they sit together, discuss issues on an open forum, negotiate
with each other and come to an alternative which satisfies all. In a layman's language it is also termed as
bargaining.

Please go through the above two real life situations once again.

You want to go for a movie but you know that your parents will never agree to your decision. Will you
fight with your parents? Obviously NO, instead you will sit with them and try your level best to convince
them and negotiate with them without fighting and spoiling everyone's mood. Probably you will spend
the coming weekend with your parents if they allow you today for the movie else you will negotiate with
your friends so that they agree for a noon show. Negotiation helps you to achieve your goal without
hurting anyone. Your goal in this case is to go for a movie and you negotiate either with your parents or
friends to achieve the same.

In the second situation, Tom could not afford to lose the CD player as it was an exclusive one, thus he
tries to negotiate with the store owner to lower the price so that it suits his pocket and even the store
owner earns his profit as well.

Negotiation is essential in corporates as well as personal lives to ensure peace and happiness.

Your boss asks you to submit a report within two working days and you know that the report is a little
critical one and needs more time. Will you say a yes to your boss just to please him? Your yes might
make the boss happy then but later you will land yourself in big trouble if you fail to submit it within the
desired time frame. It's always better to negotiate with your boss rather than accepting something which
you know is difficult. Ask for some more time from your boss or probably don't make an exhaustive
report. Negotiation is better as it would prevent spoiling your relation with your superiors later.

*****

26

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