NEGOTIATION: AN ESSENTIAL MANAGEMENT SKILL

We are negotiating all the time: with customers, suppliers, trade unions, our family ‐ indeed, all with whom we come into contact. In business, in particular, negotiation needs management. There are said to be eight stages in negotiation: prepare, argue, signal, propose, present the package, bargain, close and agree. At the proposal stage one must be clear about what one must achieve, what one intends to achieve, and what one would like to achieve. The approach to constructive and competitive negotiation, the role of consultation, how to cope with deadlock and conflict, cross‐cultural negotiation, and the art of compromise are reviewed. The development and use of teams in negotiation is also an important factor, needing careful assessment. Negotiation will nearly always involve conflict, but steps must be taken to ensure that the participants remain on friendly terms.