Chapter 12

GROUP TWO

SUMMARY OF CHAPTER 12: BEST PRACTICES IN NEGOTIATION

1. The chapter focuses on the best practices in negotiation that a negotiator could apply in the negotiation process in order to achieve an objective or stated goal. To be a good negotiator, the following steps could be adopted. First, being prepared for a negotiation is essential for achieving the interest and objective of the negotiation. Second, understanding their own strength & weakness, their needs and interest. Third, distinguishing between distributive and integrative negotiation is important or a blend of the two, and choose strategies and tactics accordingly. Fourth, Identify and work with the BATNA (Best Alternative to Negotiated Agreement) applying it in an instance where an agreement is not reached. Fifth, be willing to work away when there is no agreement, is often better than a poor agreement.

2. Sixth, mastering the key paradoxes of negotiation such as claiming value versus creating value, sticking by your principles versus being resilient to the flow, sticking with the strategy versus opportunistic pursuit to new options, honest and open versus closed and opaque, trust versus distrust. Seventh, remember the tangibles, trying to see what is not there is essential for negotiation. Eight, actively managing coalitions. Ninth, savouring and protecting your reputation. Tenth, remembering that rationality and fairness are relative. Eleventh, continuing to learn from your experience. In adopting the best practices a person needs to be outstanding when negotiating to meet a specific goal.

REFLECTION

3. Anyone adopting these best practices of negotiation will definitely be a star negotiator; negotiation is the key to meeting an objective or a goal. In a negotiation, it could either be a win-win experience or a win-lose experience. If anyone needs to win and winning is their objective, mastering the best practices of negotiation will go a long way to assist them in the negotiation process.