The first video that I watched was related to
entrepreneurship and negotiation as a supplement to our material at Full Sail
University. What I learned from this
first video was that if we don’t write stuff down, negotiations go smoother if
everything is written down, every time you have a meeting. Some advice given was to write a quick email
about what came from the meeting and having one spot with a folder with all of
the correspondence regarding each project.
They discuss that if a negotiation can not be made, that utilizing
BATNA(Best Alternative To A Negotiated Agreement will be a course of action
taken to fall back on. The first thing
the video talks about is to develop a list of actions to take, converting the best
alternatives into action, and lastly, selecting which option is the best. When you go into negotiation you and the
client wants to get the best out of it but if nothing can be reached, then you
have a dilemma. This strategy is a great
way to come to a common ground. Being
aware of the best alternative is crucial to the success of the negotiation
process.
When it comes to operating my own organizations, I will need
top- notch negotiation skills to compile my product lines, and deals with real
estate. I may not always be able to come
to a definite negotiation agreement with my suppliers, or with banks regarding
a piece of property. I will utilize BATNA
negotiation to use for the more difficult negotiations where both of us cannot
come to an agreement about an offer or cost for my organization. By finding the BATNA, both sides can be
mutually satisfied.
The next video I watched was a TED talks with William Ury,
“The walk from no to yes”. William
describes how we deal with our deepest differences. He also mentions that it is extremely easy
for us as humans to react, but urges us to sit down and talk about things. We should come to a perspective that we are
able to keep our eyes on the prize. In
positional bargaining we look at a series of positions and alternative
solutions while ordering them sequentially according to the desired
outcome. This is then sent to the other
party to reach an agreement
I may have to utilize positional bargaining if my resource
that is being negotiation is limited to time, money, or some sort of
psychological benefit. I may also have
to utilize positional bargaining in my real estate company because the other
party(banker, investor, etc.) may want to maximize the share of a fixed sum of
money. If I were to put in for an offer
for a piece of property that is below what the bank is asking for it, I may
need to utilize this negotiating strategy.
The bank wants a lump fixed sum and I am trying to negotiate them
down. Lastly, positional bargaining can
be used when current of future relationships have a lower priority than the
immediate gains from the negotiation. If
my current bargaining tool is considered to not have enough leverage with the
other party, I may not get the intended results of the negotiation.
The last video that I watched was a Debra Stevens negotiation
skills video. She is the owner and coach at Dramatic Training Solutions. Her company is a leader of sales and
management training in the UK. She
reveal’s some great thoughts about handling dirty tricks in negotiation.
There are a number of dirty tricks that the other party may
impose in a negotiation. Some of these are threats, exaggerated assertions,
chicken, bogey, intimidation, and take it or leave it, to name just a few. How one handles these dirty tricks can
determine the success of a negotiated agreement. Some of these dirty tricks may require us to
separate one self and emotions from the problem and even call the opponent out
on their tactics. The first step is to
recognize it, the second is to ensure the party understands that dirty tricks
are not to be tolerated.
Personally, I have dealt with many of these dirty
tricks. Recognizing them seemed to be
half of the battle to reaching a conclusion and having the opponent know that
its unacceptable. I realize the deeper
my businesses penetrate the market, which I will have to uncover many of these
tricks for what they are. In negotiating
contracts for an artist, or for my parts from my suppliers. Calling the opponents bluff will toughen my
skin to ensure that as a professional business woman, that I will not tolerate
being walked over. I need to stand firm
on my values, morals, and ethics, in my organizations, and need to oppose
anything contrary to them. In doing so, my employees, and the stakeholders of
the company will develop a deeper respect for the organization.
