Negotiation in the Workplace and the Human Decision Processes That may Affect Them

Negotiation in The Workplace
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Negotiation in The Workplace
MasterClass (2020) defines that negotiation involves two or more individuals or organizations working to settle a dispute through compromise. It is a critical process for avoiding conflict and achieving mutually beneficial outcomes. The contexts in which negotiation may be used are vast and varied—ranging from individuals haggling over prices at a market to entrepreneurs merging companies to government officials brokering peace agreements. In as much as the fact-specific negotiation strategies may differ depending on the situation, most successful negotiations adhere to five key stages. Prepare: Preparation for negotiation is essential but sometimes overlooked. Start preparing by studying both sides of the subject, recognizing trade-offs, and deciding your top and bottom choices. Then, compile a list of concessions you are willing to make, determine who has decision-making responsibility and draft your best alternative to a negotiated agreement (BATNA) (MasterClass, 2020). To be ready for a discussion, you must first decide where, when, with whom, and how long the conversation will last. Information-sharing: Both sides need to share information openly during this negotiation stage. Establishing starting positions allows each party to understand better the other's perspective and goals (Granite State College, 2019). In order to foster a productive dialogue, both sides must be allowed to express their views and concerns without being cut off or interrupted.
Clarify: It is important to build on the initial conversation begun by the exchange of information. This can be accomplished by supplying supporting evidence and elucidating one's position further (MasterClass, 2020). If a disagreement arises, the parties involved should try to remain respectful and calm to work toward a resolution. Bargaining and problem solving: Bargaining and problem solving are fundamental to successful negotiations. In order to reach a mutually beneficial outcome, each party should be prepared to make counter-offers and concessions. It is essential to remain calm and focused throughout the process, utilizing practical communication skills. For example, in face-to-face negotiations, one should provide positive feedback, actively listen, and convey the correct body language (Granite State College, 2019). The goal is to reach a win-win agreement through thoughtful negotiation tactics. Conclude and implement: Negotiating effectively does not end with simply resolving. It is important for all parties involved to express gratitude for the dialogue that led to the agreement, as this lays the groundwork for a long-term partnership (MasterClass, 2020). Furthermore, clear guidelines should be established for implementing the solution, which will help ensure everyone is on the same page moving forward. Finally, a formal agreement should be drafted and followed up on to guarantee that the agreed-upon solution is implemented smoothly and without issue.
The Human Decision Processes That May Affect Negotiations
Cognitive Biases
When engaging in discussions or negotiations, it is cruc...