Elements of Negotiation and Bargaining Skills classmate replies
for this assignment it is just replying to what my classmates wrote. Just 1 APA reference per classmate is required and there is a minimum of at least 100 words.
The five elements of negotiations are –
· Multiple parties and their interest- is when more than one party has different interest, opinions, or they just can’t agree on an outcome to a certain matter. With this element the disagreeing parties can apply one of three conflict frames, relationship/task frame, emotional /intellectual frame and cooperate/win frame are used to help the disputing parties focus on the conflict at hand and block out everything else (Carrell & Heavrin, 2010)
· Interdependency- is used when both parties have something to offer each other for negotiations. Neither party can survive with the other making both parties dependent on one another.
· Common goal- Michael R. Carrell & Christina Heavrin, J.D. (2010) write “there are two types of goals within every conflict: content goals and relationship goals. A content goal is the substance of the issue, such as getting a development plan approved, landing a client, or satisfying neighbors. The relationship goal defines how the parties intend to relate to each other – for instance, whether the parties are important to each other, whether they are willing to share decision- making authority, whether they intend to dictate to one another” (p. 15).
· Flexibility- is used when the parties involved in a negotiation are open to other processes being used outside of the one that they may prefer. This leaves room for a more flexible negotiation which could lead to a possible agreement. Having an open mind is important when walking into a negotiation.
· Ability to make a decision- both parties must have the authority to make the decision which will bring an agreement between the disagreeing parties. They must be empowered to make decisions with-out repercussions from other authorities or they must be able to be granted decision making authority.
Identify the Five Negotiation Skills needed in order to perform successful negotiations.
There five negotiation skills are-
· Five essential elements – the elements acknowledged in negotiation.
· Bargaining behaviors – skilled negotiator technique.
· Bargaining styles – strategies and behaviors are impacted by this style in a negotiation.
· Collaborative goals – combination of methods that help to successfully fix a conflict.
· Cognitive biases – avoiding known differences which would halt a successful negotiation.
Define Rational Choice theory and discuss how it relates to the negotiation process.
Rational choice theory is the belief that individuals make decisions that are based on economic and social behavior. The rationality of their wants, decisions and choices is based on these two frameworks. As it relates to the negotiation process, the parties involved are believed to rationally take a look at all important aspects and information from the negotiation and used it to make a rational decision on what is the best answer for all parties. According to Michael R. Carrell & Christina Heavrin, J.D. (2010) “theoretically, negotiators gather the optimal amount of information needed for decision making, make accurate assessments of that information, compare the expected value of an agreement to the expected value of non-agreement, and choose the alternative that maximizes their interests.
Discuss how the Dual-Concern Model and Big Five Personality Dimensions facilitate recognizing bargaining styles and how such styles impact behaviors and strategies in a negotiation.
The dual-concern model recognizes bargaining styles because the bases of the model has two concepts which an individual will relate to they are, the desire to please their self and the desire to please the other party. How the big five personality bargain styles relate to negotiation is that they stem from two personality dimensions assertiveness and cooperation which are associated with dual-concern model. The five styles are avoiding, accommodating, collaborating, competing and compromising. How these styles impact behaviors and strategies in a negotiation is that, avoidance and accommodation for one is used to decrease, lesson and possibly fix a conflict between parties in a negotiation. Collaborating offers both sides a chance to be heard by a negotiator who is willing to work with both parties to resolve the conflict and work toward a solution that will satisfy them both. Competing in a negotiation offers a negotiator a chance to go after their interest and use any leverage against the other party to benefit them in a negotiation process. Compromising is used when a negotiator is willing to be just in their negotiation in order to make the negotiations go faster.
Negotiation is an interaction between two or more parties in the process of strengthening a relationship, understand each other, solve difference of opinions, or seek profit at the end of the conversation or to frame an agreement.
Elements of negotiation vary every time. The five most important elements of negotiation that are to be kept in mind include the understanding of the importance of relationship, understanding the needs of the negotiators, knowing the BATNA(Best Alternative To a Negotiated Agreement) of both the parties , bargaining tactfully and implementing the agreement made between the parties.
Let us consider an instance where one wants to shop some items in bulk from a shop. In the process of negotiation, the relationship between the seller and the buyer should be understood well in order to keep each other in good terms. Further, both the seller and buyer should analyze the needs of each other by considering profit to both the parties. In case, either of the two parties feels a loss, they can look for the Best alternative to the Negotiated Agreement and bargain skillfully by implementing agreement made amidst the two parties.
For achieving best negotiation, one must have an idea of negotiation skills. The five main negotiation skills include flinching, understanding that people want more than expected, understanding the other party’s needs, practice negotiating and keep your rejecting power strong.
Rotational Choice Theory deals with the framework for understanding and structuring social and economic behaviors. According to the theory, the actions are rationally characterized. Since all the interactions can be seen rationally, the theory holds good when it comes to negotiation. The basic idea of the theory is people buy goods of their choice in order to maximize the benefits and minimize the price. Hence, a seller negotiates with the seller to achieve his goal of paying less and the seller negotiates until he achieves the state of more profit and no loss.
Dual Concern Model describes how a person’s behavior is affected during a bargain or a conflict. The bargaining is influenced by the wish to satisfy oneself or the other party or both of them. The bargaining styles associated with this model arise from two personality dimensions of assertiveness and cooperation. Avoidance, accommodation, comprisal, competition and collaboration are the bargaining styles that come under the dual concern model.
The big five Personality Dimension was given by Zhenzhong Ma. According to the model, the personality factors influence the style of bargaining of an individual and the bargaining style eventually influences the bargaining behavior. The personality dimensions of Big 5 are also referred to as OCEAN (Openness, Conscientiousness Extraversion Agreeableness Neuroticism) Approach.
One can be a successful negotiator if a proper approach and bargaining skill is implemented. For effective enhancement and implementation of skills one has to have knowledge on the elements of negotiation skills and its implementation. One should also have knowledge of the effect of negotiation on an individual’s behavior, which can be achieved by the study of Dual Concern Model and OCEAN approach.