Negotiations In Business

Running Head: NEGOTIATION 1

Negotiations in Business

Student Name

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NEGOTIATIONS 2

Negotiation

Introduction

Negotiations form the center of professional and personal aspects of life. In business,

good negotiation skills determine whether it will succeed or fail. Major successful companies in

the world admit to having the best negotiators of all time in charge of their deals. Additionally,

concessions are made so as to establish a win-win situation among the involved parties (Groves,

Feyerherm & Gu, 2015). Lack of the required skills and techniques of the negotiator costs the

represented company great deals. Primarily, this paper will respond the three famous negotiation

quotes provided and also explain the different perspectives of these quotes.

Part one

Patience is necessary in all aspects of our live, both professional and personal aspects. An

effective negotiator should have a little patience which grants him the power of time. Many

business professionals encourage people to use the count to ten technique while negotiating a

deal.in such a situation, ten seconds feel like a whole hour to the party giving the contract or

deal. Therefore, the unsettling feeling accompanying the silence tortures then into giving even a

better deal than before. Silence amid negotiations increases the nervousness and anxiety of the

other party who is forced to mention an attractive offer just to break the awkward silence

(Haskins & Freeman, 2015). The power of time granted by silence helps the negotiator get more

free services or a discount which were not made previously in the offer. Despite the public

knowledge of the silence technique, it still works due to vulnerability of the human psychology.

On the other hand, some deals require swift action and any hesitation leads to lose of a great

opportunity. Therefore, for a negotiator to determine what skills applies best in an upcoming

negotiation, they need to do a comprehensive research on the state of what they instead to buy,

the current and future market value, and the potential of opponents who want the same deal.

With all the logistics in hand, the negotiator goes into the boardroom fully aware of what may

happen. However, the lack of thorough research before giving an offer may cost him a great deal

or a huge loss financially.

Part two

All negotiations aim at getting the most out of a deal be it the value for your money or

making more money. However, this does not justify greediness during negotiations. In the

business world, negotiators are advised to sometimes prevent their thirst for money from

outshining their humanity. Greediness is a vice that not only destroys personal relationships but

also damages the trust and integrity of a person and the company he represents (Hamilton &

Micklethwait, 2016). Consequently, the integrity of the business is a determinant of its success

and when the trust is broken, an alternative but similar business is the next stop for investors and

customers. The exchange of ideas and great deals in market is lost. In a situation where a

negotiator always makes all the money from a deal without leaving some for others, is good for

NEGOTIATIONS 3

instant profits but bad for the future of the business. In the aspect of earning a huge profit, the

negotiator will have a thriving business and may even expand it. However, the other parties may

exclude him from future deals. Upon exclusion, the negotiator may turn to his opponents who

will also reject him following his greediness with money. Leaving a little money for other parties

is in itself a future investment and helps build trust with deal providers, opponents and potential

market. Additionally, it increases the chances of invitations to a deal since the integrity of both

the negotiator and his company are proven. It is important that all businessmen remember

humanity and integrity and quality business relationships precedes success and vice versa is also

true.

Part three

Many of the uninformed decisions made by businessmen are attributed to anger.

However, it is hard to control the emotion especially in situation that pressures a person into

decision making. Similarly, anger is a tricky asset that may earn a negotiator a deal of his life or

get him fired for losing a great deal. As an emotion, anger inhibits a person from rationale and

thinking clearly. Therefore, uncontrolled anger is a ticking time bomb when it comes to

negotiations. Conversely, anger can be an efficient negotiating tool if used tactfully (Adam &

Brett, 2015). Research indicates that the exhibition of anger during negotiations results into

defensive and angry responses. The Asians are known to detest angry negotiators to whom they

respond with the same intensity of anger while at the same time being defensive. Additionally,

the probability of an angry negotiator to close a deal with an Asian is zero. However, Asians are

not the only ones who detest loud outbursts during negotiations. Research shows that anger puts

off everyone making them defensive and hard to negotiate with. Moreover, anger can be used

sparingly not as an emotion but a skill. The tone of skillful anger does not resemble outbursts.

Instead, the right tone of anger may trigger the other party to agree with your offer or offer more

discount. As a tool, anger shifts the awkwardness from the negotiator to the other party. As a

result, it triggers the party to act in favor of the negotiator as a way of covering for assumed

shortcomings.

Conclusion

In retrospect, negotiation is an art that requires skills and appropriate timing. Skillful

negotiations have two winners where both the buyer and the seller get the most out of the deal.

However, there are some rules that guide this art which if not followed may cause all parties a

significant loss. Therefore, negotiators should aim to maintain their integrity and use all the

aspects of the situations to their advantage. Most importantly, all the involved parties should

separate their emotions from the business at hand especially when it is anger. As earlier

explained anger can make huge profits or lose the deal depending on how skillful a person is. A

great negotiator is therefore not greedy, patient and skillful with his emotions.

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References

Adam, H., & Brett, J. M. (2015). Context matters: The social effects of anger in cooperative,

balanced, and competitive negotiation situations. Journal of Experimental Social

Psychology, 61, 44-58.

Groves, K. S., Feyerherm, A., & Gu, M. (2015). Examining cultural intelligence and cross-

cultural negotiation effectiveness. Journal of Management Education, 39(2), 209-243.

Hamilton, S., & Micklethwait, A. (2016). Greed and corporate failure: The lessons from recent

disasters. Springer.

Haskins, M. E., & Freeman, R. E. (2015). What managers should never want to hear: silence.

Management Decision, 53(6), 1300-1311.

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