Negotiation Mathematics & Economics Essay Research

How to Successfully Maintain Good Financial Ratios?
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Negotiation
Sales negotiation directly impacts the company, hence it is essential to negotiate while ensuring financial ratios are well maintained. Firstly, defining any concessions to be made or accepted ensures that both parties can adequately benefit from the prospect. This includes aspects of discounts or any other add-ons that may be applicable to the deal. Furthermore, any concessions made should have requests granted in return to maintain a mutually beneficial arrangement (Holmes, Beitelspacher, Hochstein, & Bolander, 2017). Apart from that, specific numbers must be put down during the negotiations and not ranges. Generic figures such as percentage of reduction, i.e., 20% or 30% reductions, may be misconstrued and negatively affect the business. More so, the idea of splitting the difference ultimately affects the margins of the company, thus, counteroffers made by the salesperson should try to stay as near as possible to the original offer. This means that an offer of $200 countered by request for a 50% discount should not be countered further to 75%. Finally, closing the sale...