Opinions on Negotiation Strategy

This month for school, I have been studying negotiation strategies to better my understanding on the negotiation process. I have learned a lot this month taking this course and have had the opportunity to revaluate my own strategies previously used during the negotiation process.

To further my negotiation knowledge I have had the pleasure to interview two great candidates that have used negotiation constantly in their work and their life. Alisha Slye, a previous Deloitte Employee, and Jack Slye, a Venture Capitalist, have constantly used negotiation in various situations in life. During my interview with them I discovered similar negotiation strategies that they used in both aspects of their lives. As they pointed out that everyone negotiates at some point in his or her life and some stakes are higher than others. It is best as they both mentioned to learn and understand the tactics involved in the negotiation process to help make a more successful negotiation. The recurrent opinion they both had on the best negotiation is mutual benefit. They described mutual benefit at a point where both parties feel as they have won.  It is by understanding realistic goals  and setting realistic expectations that helps to create leverage during the negotiation process (Latz, 2011). Both would agree that a win-win situation is the best strategy to achieve in negotiation. Unfortunately, they both mentioned that emotions run high during a negotiation but coming in with clarity on the focus of the negotiation is important to make the negotiation process smoother to get to an agreement. It is by accepting your emotions and recognizing them in a negotiation that can keep their emotional behavior balanced in the negotiation process (Fromm, 2005).

While negotiating Jack recommended it is always best to separate the people from the problem and to show appreciation when it is due in conversation. He mentioned that both parties need to feel valued when negotiating and Alisha added in saying that “respect needs to be shown.” It is best to understand each party’s role to better assist the negotiation process and only negotiate on key points that you really need (Sundheim, 2011). Overall, they both felt that negotiation is apart of everyday life and by continuing to learn new strategies in various situations it will better an individuals negotiation strategy for future negotiations. 

Sources

Fromm, D. (2005). Dealing with your Negative Emotions. The Negotiator Magazine. Retrieved from: http://www.negotiatormagazine.com/article295_1.html

Latz, M. (2007, Apr 6).  You May Be Stronger, But Be Savvy In Using Leverage. Latz Negotiation Institute. Retrieved from: http://www.negotiationinstitute.com/column/you-may-be-stronger-be-savvy-using-leverage

Sundheim, K. ( 2011, Mar 11). Advanced Salary Negotiation Tactics That Open An Employer’s Check Book. Business Insider. Retrieved from: http://www.businessinsider.com/start-training-to-eat-a-lawyer-alive-and-see-how-much-the-poor-vp-raises-your-salary-just-to-end-the-pain-2011-3