Negotiation, Sales, Conflict, Conflict Resolution, Conflict Management, Difficult Conversations, Leadership, Supply Chain, Supply Chain Management, Procurement

Negotiation, Sales

How To Negotiate In Tough Times

How To Negotiate In Tough Times

10/23/2021 10:00:00 PM

How To Negotiate In Tough Times

Tough times, such as the various crises happening around the world today, give rise to tough conversations. Here's how to navigate them.

2. Establish TransparencyTransparency in negotiation refers to the positive aspect of reciprocity where you share information and the other person shares back information. It develops trust between the two parties and consequently assures you that both sides are in good faith in trying to solve the problem together. 

Germany announces new restrictions banning unvaccinated people from non-essential public spaces Generous Friend Willing To House-Sit For Nothing But Going Through Your Stuff Biden will outline new steps to combat Covid through winter months

It discourages the negative aspect of reciprocity (also known as vengeance) because when you withhold fairly necessary information, the other side will also hold back information. In the end, you will both fail to achieve your desired negotiation outcome.

While transparency encourages openness, make sure you discuss and agree first with your team — if anyone’s joining you in the negotiation — the kind of information you will keep confidential in case the negotiation becomes contentious. Be also mindful that the sharing of information is not disproportionate, i.e., what you are sharing far outweighs the amount of information they are sharing. This is far from being a collaborative scenario. Don’t dump all information at once as you begin, hoping they’ll do the same. One information for each information they give is an ideal process.    headtopics.com

3. Make Reasonable AdjustmentsAs you determine how far you can go or adjust in your problem-solving brainstorming, reciprocity dictates that you’re not the only one giving concessions. Exhaust all avenues where you can make adjustments, but make sure the other party does as well.

 This is called reciprocal concession, and as Lang emphasizes,“everything you're offering should be tied to getting something in return. That's so important when it comes to maintaining a good position in these negotiations.”But while pre-negotiation planning on the specifics of your adjustments is helpful, everything will still depend on the kind of information the other party will give, and the flexibility they are willing to extend in certain areas. So keep an open mind. 

And lastly, once you get the best possible terms, don’t commit to anything until you have them reviewed by the relevant teams, such as your procurement team and the top management or the board. Clarify that you are not the final decision makers. Remember that your job is to get a fair and reasonable deal that you can justify before the board and/or management, and have them approved.

Think Collaborative! Read more: Forbes »

First known U.S. Omicron case found in fully vaccinated overseas traveler

The United States on Wednesday identified its first known COVID case caused by the Omicron variant, discovered in a fully vaccinated patient who traveled to South Africa, as scientists continue to study the risks the new version could pose.

'Tough times' is why I can't afford to subscribe to read thus article. Pity

How To Negotiate In Tough TimesTough times, such as the various crises happening around the world today, give rise to tough conversations. Here's how to navigate them. Step 1 - Unionize

Fed Unveils 'Tough New Rules' Restricting Central Bank Officials' Stock Trades After High-Profile ResignationsThe Federal Reserve on Thursday announced new rules governing the investments and trades made by central bank officials

Soaring meat prices a tough sell for barbecue pitmastersPitmasters worry for the future of their barbecue restaurants as beef, pork and poultry prices continue to rise They got nothing to worry about. We see prices rise when we shop. So we know it must affect our favorite outspots. Now who it WILL affect are those spots who are 3rd-4th options for most folks. For me it won’t hurt JB albertos 1 thin crust spot. But the 4 others I go to?

How To Negotiate In Tough TimesTough times, such as the various crises happening around the world today, give rise to tough conversations. Here's how to navigate them. Step 1 - Unionize

Is Grit and Resilience Real? And How Do You Get It?While you may hear the words “grit” and “resilience” bandied about a lot, it turns out that both are personality traits that can be critically important in helping guide you through life, no matter your personal stressors.

Democratic Voters Want Biden’s Big Spending Deal—and They’re Getting ImpatientParty lawmakers are still negotiating the scale of President Biden’s ambitious social-policy and climate package, while time and voter tolerance run short. Brand of 666 = vaccination COVID -19… you need it mandate, etc… if you dont have it you will loose your job… green pass / France/ Italy … smh don’t drink the cool aid. Stand up. You will suffer but stand fast. Time is near ✝️ fjb