Managerial Negotiation Article Review Revised

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Managerial Negotiation Article Review
Having good negotiation skills is one of the most fundamental managerial skills one can have to run their organization effectively. The author emphasizes this fact by outlining the various misconceptions about what great negotiation skills entails. Furthermore, he gives expert advice and tips on how best to go about it in situations involving convincing others to share your views.
Even though one strives to change the point of views of others, it is vital to honestly listen and react to divergent opinions of others so as not to appear bossy or dictatorial. Being courteous, professional and prior knowledge of the other party’s dealings can also come a long way in fostering a successful negotiation. Additionally, the article reiterates the importance of having a prepared draft about how the contract will look beforehand to have the upper hand in the negotiation process.
As much as the primary goal may be to come out of the negotiations with a deal, it should not be at the cost of you being short-changed. You should not cave into every demand of the other party but rather counter offers that may otherwise later adversely affect your goals and projections. It is essential to be mindful of the time spent when negotiation since dragging on of a proposed deal unnecessarily may be a recipe for disaster. However, the author cautions against rushing into agreements in the name of saving time without first having a comprehensive understanding of the deal.

Have a backup plan. Having several alternatives and interested parties is crucial in enhancing your bargaining power. Furthermore, the author advises against agreeing to the first offer tabled by a party since this will cause them to feel they have quoted a higher value than the deal is worth. Consequently, you should always have a counteroffer.
Therefore, it all boils down to whether one has the right skills and tactics in place for a successful negotiation.
Work Cited
“15 Tactics for Successful Business Negotiations.” Forbes AllBusiness, Harvard Business, 16 September.2016. Web.12 April 2018. Accessed from https://www.forbes.com/sites/allbusiness/2016/09/16/15-tactics-for-successful-business-negotiations/2/#530470f557c9