Negotiation is a fundamental and noble professional process for finding mutually beneficial agreements, comprising distinct steps that, when followed, lead to predictable and favorable outcomes.
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some people find the idea of negotiation
uncomfortable if they feel it's a bit
like asking for more than you deserve
but it's important to recognize two
things firstly for many people
negotiation is part of your job it may
not be about large-scale negotiations
for hard contracts day-to-day
negotiation with colleagues with
suppliers with customers and with
partners is what your job is partly
about and if that's true then getting
the best result for your organization is
your job the second thing to remember is
that negotiation isn't about getting one
over on somebody else it's not about
getting an unfair advantage over the
other party it's about finding a deal
that satisfies both of you
and therefore negotiation is a noble endeavor
endeavor
it's about finding something that is
fair the other thing that concerns
people about negotiation is they just
don't feel like they know how to do it
even though you've probably been doing
it since you're a child so in this video
I want to look at the fundamental
process of negotiation and then in
further videos we'll look at the
let's start by understanding what
negotiation is negotiation is the
process of searching for an agreement
that satisfies all parties what this
means is two things
firstly that negotiation is trying to
produce something that is fair for all
sides so you don't need to feel bad
about it and secondly because
negotiation is a process it means that
if you follow the steps in that process
you will get a predictable result now
I'm not saying you can predict the
outcome of the negotiation but what you
can predict is that the negotiation will
follow its course and you will get the
best results that you can there are four
steps in the core negotiation process
step one is preparation step two is
opening step three is bargaining and
step four is closing after these comes
follow up and you might regard this as a
fifth step in the negotiation process
but follow-up presupposes that the first
four steps have been successful and
therefore I like to think of follow-up
as being something that happens after
the negotiation process that said I will
of course discuss follow-up in this
series of videos for now I'll briefly
summarize the four steps and then we'll
look at them further in later videos and
the first step is preparation this is
about where you set yourself up to
succeed this is where you think about
the outcome you want to get of the
circumstances that prevail you inventory
the knowledge you have and you set up a
plan for how you're going to negotiate
step two is opening and in this step we
start the negotiation proper and I'll
talk about seven things that you need to
do to make sure you open the negotiation
well the heart of the negotiation is the
bargaining step this is what people
think of as a negotiation this is where
you haggle this is where you put offers
and receive offers this is where you
make concessions and request concessions
or it's search of an agreement that
satisfies all the parties and the fourth
step is closing this is a short but
essential step where you lock in the
agreement and you walk away from the
negotiation knowing that both sides have
agreed to a set of terms after that
follow-up is about enacting the terms
that you've agreed so look out for the
videos that will follow this one that
will take you through those steps in
detail and also look out for further
videos on the principles of negotiation
and some of the tools and techniques
that are available to you as a
negotiator to make your job more
effective and more efficient and also
I'll be including some videos looking at
how some of the masters of negotiation
tackle the craft and some of the advice
and guidance they would give but for now
I want you to remember two things
firstly that negotiation is a process
and it has four steps and secondly the
negotiation is an important part of a
manager's of a professionals of a
leaders role in their day-to-day work
you'll be negotiating with colleagues
you'll be negotiating with stakeholders
with suppliers with customers and it is
an entirely noble thing to be doing
because all you're looking for is a fair
settlement that everyone can be
please hit the thumbs up if you like
this video there's loads more great
management courses content to come so
please subscribe to our channel and hit
the bell so you don't miss any of it I
look forward to seeing you in the next
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