Conduct Negotiations

Topics: Negotiation, Contract, Bargaining, Collective bargaining / Pages: 5 (1150 words) / Published: Sep 1st, 2013
Establish and Conduct Business Relationships
2. Conduct Negotiations

S
1 Last week

Last week

S We have learned abut How to Build Relationships. S This week we are going to talk about Conducting

Negotiations

2

Learning outcomes

Learning outcomes
S At the end of this lesson you will be able to; S Conduct business negotiations

S Maximize benefits for all parties by negotiations, using

negotiations techniques in the context of establishing long term relationships negotiation where appropriate

S Incorporate feedback and input from colleagues in to the S Communicate results of the negotiations to appropriate

colleagues, stakeholders with in appropriate time frame.

3

How do I conduct business negotiations?

How do I conduct business negotiations?
S Negotiation is the art of arriving at a compromise about a subject

to the satisfaction of the parties involved. If you think about it, you conduct negotiations all the time, with your partner, your family members, your customers, your boss and your colleagues. In hospitality, negotiating and doing deals is an integral part of business, from negotiating with large suppliers to bargaining for the best deal at the food markets.
S The complexity of a business negotiations will vary according to

the size and complexity of the proposed deal, as well as the attitude and strategies of the other side. Generally the larger the deal or the organisations involved, the longer it will take.
4 Here is what we did to negotiate best deal with our clients in the three scenarios

Here is what we did to negotiate best deal with our clients in the three scenarios
S We did prior research and preparation before commencing

negotiations
S We were careful to use the right approach for each client

when opening negotiations
S We used negotiation techniques appropriate to the client

and situation when bargaining
S We recognised the right time to close the deal

5

What factors can

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