Discussion Note: Negotiation Skills

Discussion Note Name: Institution: Negotiation may be defined as the process of interaction where different parties with distinct goals and needs explore an issue so that they may find a mutually acceptable solution. It is important to note that every part provides its opinions, the possibilities for each issue, which are then evaluated by all the participants. In business, good negotiation skills are essential in both informal interactions and formal transactions which may include legal contracts and service delivery among other issues. Good negotiations help in building better relationships in businesses and also aid in finding quality and lasting solutions (Business Queensland, 2017). In this case, there are several instances of negotiations. For example, after identifying the need for a new manufacturer and a factor, Qian Kai Nam found Liu Li and negotiated a favorable deal for the company. Qian has researched and understood that Liu was in a bad financial situation and he would not have resisted the offer (University of Virginia, 2015). Qian’s negotiation skills were based on his philosophy; that is ensuring that people can survive and not fat and happy. The major problem facing Shenzhen Filtroil and Liu’s factory is based on how the initial agreement was negotiated. After merging the two factories, Li...