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Negotiation Skills Training: Preparing For And Engaging In Complicated Commercial Negotiations Using Best Practice Preparation
The pivotal negotiation skill required to unlock the best value from complex commercial negotiation situations is to identify and understand the interests of all the parties impacted by or participating in the negotiation. In some cases, it is simple to understand both the positions & interests of participants in the negotiation. In most cases, however, it is not only tricky to identify the interests of all parties; it is also difficult to identify all the key players.
How to negotiate in complex, multi-party negotiations?
1. Identify all the stakeholders in the complex negotiation
This may be stating the obvious but in practice, it is often difficult to identify and keep track of all the stakeholders in a negotiation. In a business environment, we should at minimum attempt to identify the following stakeholders:
a. Financial stakeholders
These are the individuals or groups that will finance, support or give consent to conclude an agreement based on the monetary terms suggested. It is important to identify all potential individuals that may have an interest in the purely financial aspects of the negotiation.
b. User/consumer stakeholders
These are the people or groups that will implement and support the outcome of the agreement that is reached. These are the stakeholders that will live and work with the output of the negotiations on a day to day basis.
c. Technical & legal stakeholders
These are the people or groups that will agree to and approve the technical and contractual elements of the negotiations.
d. Guides/Gurus & other Influencers
These are the people or groups that hold significant influence over the key decision makers involved in the negotiation.
2. Identify the interests of each stakeholder in the negotiation
There are basically two ways to identify an individual or group's interest in a business negotiation. The 1st way is to put yourself in that individual or group's position and to attempt to see things from his/her/their perspective. What supporting information would you require? What precedents would apply? What assumptions can you make, and test? The 2nd way is to ask the individual or group a number of questions to help you (and them) to accurately identify their key interests. The best question to ask is "Why?" "Why is this negotiation important to you? Why are you assuming this position? Why are these options being explored?"
3. Create a frame that is appropriate for each stakeholder
Having identified the interests of each stakeholder party, you should now shape the appropriate frame. Different people take decisions for different reasons. It is not appropriate to highlight the same points to support decision making to all stakeholders. You should focus on communicating the most useful frame to each participant or potential stakeholder.
4. Create an effective management structure for the negotiation
If our counter parties experience us to be rational, the odds are significantly enhanced that they will also react to us in a rational fashion. We can only present a unified and rational 'front' if we have considered the roles & responsibilities within our negotiation team. Split the responsibility in the team between those that will manage the Relationship dimensions, and those that will manage or be involved in the Task related aspects.
Negotiation skills training teaches us to create an agenda that addresses the interests of all potential stakeholders. A successful way to simplify complex business negotiations is to add structure. We need to focus on the process elements to ensure that we move forward at every level of the negotiation. You will find that complexity can be managed with the use of an appropriate supporting structure.
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