Negotiation Strategies: Business or Political Perspective. What Negotiation is all About? Considering the Interest and Values of Conflicting Parties Separately

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Negotiation Strategies
1.0 Introduction
With increasing globalizations, business organizations operating both in local and international markets often find themselves in disputes. Dispute resolution one way of settling disputes between business organizations outside the courts of law. Alternative business resolution (ADR) has been used for many years as a dispute resolution process. Among the known types of ADR which are mediation and arbitration, mediation is sought first in resolving disputes in business (Sgubini, Alesandra and Merighetto). In the past decade, leading global business organizations have been making headlines in the New York, Times, the Wall Street Journal and many other media outlets with hundreds of millions of U.S. dollars compensation suits in courts in which negotiation has been the centre of focus on finding settlements and resolutions (Jergler & Ha, 3013). A number of hardball negotiations have backfired, many costly legal battles ending up in court settlements and fines that could have been avoided and many disputes arising from faulty contracts. The largest compensation packages in business conflict suits in the U.S. include cases such as the one for Starbucks and Kraft Foods that lasted for three years. The dispute was cause by disagreement on Starbucks packed coffee in grocery stores in which negotiations and arbitration was used to make Starbucks compensate Kraft over its breach of contract with a settlement of $2.75 billion in 2013.
Apple and Samsung conflict was a perfect example of the success of negotiation in business. At first in August a California court ruled in favor of Apple instructing Samsung to pay more than $1 billion as compensation for damages relating to patent violations of Apple products. After various negotiations, the payout was reduced to $600 million and eventually to $290 million. Time Warner in 2013 summer was also in conflict with CBS over fees. Through negotiations, the two companies were able to reconsider their stand with CBS getting a higher fee for its programming from $1 to $2 and also got the digital rights to sell its content to other web distributors including Netflix. The negotiations ended with no fines or penalties (Lutz). Business negotiations is an important leadership and management skill that is applicable both internal and external business environment. Business negotiations involve deal making between one company and another, with government institutions, employment discussions, labor management agreements, business acquisitions and employee compensation. Business negotiation require well-crafted strategies in a business environment. Business negotiation strategy involves breaking problems that occur in a business organization into smaller parts, analyzing unusual situations and inventing new ideas to solve problems (Buell). This paper seeks to discuss the importance of negotiation in business providing an analysis of negotiation strategies in business.
2.0 What Negotiation is all about
2.1 Considering the interest and values of conflicting parties separately
When carrying out negotiations, it is important to separate the person or the organization itself from the problem. Issues should be eng...