Negotiation And Bargaining In The Business Sector

Negotiation
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Negotiation
The introduction of the internet has changed the traditional procedures of negotiation and bargaining in the business sector. The old-fashion negotiations were characterized by physical meetings where parties would meet and negotiate over a deal face-to-face. Today, ne the art of negotiations and bargaining has transformed and strengthened to match with the modern businesses.
Online negotiations have changed the way individuals approach negotiations and bargaining in a number of ways. First, today people enter into negotiations with adequate information about the subject in negotiation, unlike in the traditions negotiations where individuals only relied on the other counterpart to disclose full information about the subject in question. (Harkiolakis, Halkias, & Abadir, 2012) For example, in the e-commerce platform, a customer has a chance to gather sufficient information from the internet on products or investments they plan to purchase or undertake, hence improving the customer’s bargaining power. Second, the internet has boosted the art of promotions as many business are now able to promote their product and services through emails, websites and social media platforms. This has given negotiation a new cut as parties can share images and videos of the items for the purpose of convincing their clients in a negotiation. Lastly, the electrically mediated negotiations is faster compared to the traditional one as the need to meet for presentations is eliminated (Harkiolakis, Halkias, & Abadir, 2012). When parties communicate without meeting each other, the mistakes and amendments associated varying agreements as well as the back and forth pushes in the process are also avoided.
Individuals can improve their negotiations and bargaining skills using resources such as self-help books and online courses on negotiations and marketing techniques. Through these sources, entities can learn negotiations soft skills such as appropriate ways of communications, key elements to consider in a negotiation as well as the appropriate personality presentation in a negotiations meeting (Shakun, 2012). Additionally, all parties can learn the computerized basics suc...