Negotiation Strategies

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Questions and Answers

Which of the following phrases is MOST likely used when beginning negotiations?

  • "I don't feel like I understand your position clearly."
  • "I have to disagree with you there."
  • "I'm excited for the opportunity to work together." (correct)
  • "I'm afraid that's not a feasible option for me."

Saying "With all due respect, I must decline your offer" is an example of disagreeing during a negotiation.

False (B)

Suggesting "Let's consider some alternatives" is MOST useful during which phase of a negotiation?

  • Closing the deal
  • Beginning negotiations
  • Negotiating terms (correct)
  • Establishing terms

When aiming to reach a compromise, it's helpful to trigger a "______" moment from the person you're negotiating with.

<p>that's right</p> Signup and view all the answers

Which of the following actions BEST demonstrates preparation for a business English negotiation?

<p>Researching the company's market position and corporate culture. (C)</p> Signup and view all the answers

Match the negotiation phrase with its intended purpose:

<p>&quot;What I'm looking for is...&quot; = Establishing terms &quot;How about we do the following...?&quot; = Making a proposal &quot;I'm afraid that's not a feasible option for me.&quot; = Rejecting a proposal &quot;Is your offer at all flexible?&quot; = Negotiating terms</p> Signup and view all the answers

When negotiating for a new job, at what point should you establish terms?

<p>After the employer makes an initial employment offer. (D)</p> Signup and view all the answers

Name three actions performed when closing a deal.

<p>Summarize the discussion, ensure all points are covered, determine action going forward</p> Signup and view all the answers

Understanding your leverage in a negotiation involves only knowing what you want to get out of the deal.

<p>False (B)</p> Signup and view all the answers

What is the PRIMARY reason for studying the organizational culture before negotiation?

<p>To understand the corporate environment and respond effectively. (C)</p> Signup and view all the answers

The only important preparation for a business negotiation is to list your desired outcome.

<p>False (B)</p> Signup and view all the answers

Which of the following phrases is BEST suited for respectfully disagreeing during a negotiation?

<p>&quot;That's not exactly how I see it.&quot; (B)</p> Signup and view all the answers

Before beginning the negotiation process, what should a negotiator first understand?

<p>What you want to get out of the discussion</p> Signup and view all the answers

Which of these is a polite way to turn down a proposal?

<p>&quot;With all due respect, I must decline your offer.&quot; (D)</p> Signup and view all the answers

You must document your objectives very clearly before entering the negotiation so that your ______ is clear in your head.

<p>position</p> Signup and view all the answers

Match each phrase with its appropriate point in the negotiation process:

<p>&quot;I understand where you're coming from, but...&quot; = Disagreeing &quot;I can accept that if you could...&quot; = Compromising &quot;Let me make sure I understand correctly. Are you saying...?&quot; = Clarifying &quot;I'd like to make a suggestion.&quot; = Making suggestions</p> Signup and view all the answers

Identifying areas of compromise means only focusing on what the other party is willing to concede.

<p>False (B)</p> Signup and view all the answers

What should research for a business deal concentrate on?

<p>The company's market position, product or service, financial position, and corporate culture. (C)</p> Signup and view all the answers

Name three example phrases used when agreeing.

<p>That makes complete sense, I agree with you on that point, That sounds very reasonable to me.</p> Signup and view all the answers

Identify areas of ______ during the negotiation process. For example, if negotiating salary at a new company, you should then be able to emphasize what value you will add to the company.

<p>compromise</p> Signup and view all the answers

Flashcards

"I'm excited to work together."

Expresses enthusiasm for collaboration at the start of negotiations.

"Nail down the main points?"

Suggests defining the agenda's key topics at the start of a meeting.

"Our goals for this meeting."

Suggests stating the objectives to be achieved during a meeting.

"Is your offer flexible?"

An inquiry to determine the other party's degree of flexibility regarding their offer.

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"Let's consider alternatives."

Suggests considering alternative solutions.

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"Decline your offer with respect."

Gently decline an offer while maintaining respect.

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"According to my research..."

Emphasizes basing an argument on solid research.

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"That makes complete sense."

Indicates agreement with a point made by another person.

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"I understand where you're coming from..."

Used to show that one understands another person's viewpoint.

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"I'd like to make a suggestion."

Used when introducing a suggestion.

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"See if we're on the same page."

A request to go over the discussion again to confirm everyone is aligned.

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The key to success

Preparation is essential for successful negotiation.

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Have a clear objective.

To effectively negotiate, know what you want to achieve.

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Understand your leverage.

Understand your leverage in negotiation to maximize your position.

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Identify areas for compromise.

Identify potential compromise areas in negotiation to reach an agreement.

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Study strategic objectives.

Research the expectations of the other parties involved.

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Prepare research & data

Gather details on the company's financials, market position and culture.

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Where you can offer value.

Highlight how you can assist in achieving the company's objectives.

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That's right!

Strive to get the person to agree with your points.

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Study Notes

Beginning Negotiations

  • Starting a negotiation can involve expressions like "I'm excited for the opportunity to work together."
  • Another approach involves suggesting a review of the agenda's main points using a phrase such as "Before we begin, why don't we nail down the main points of the agenda?"
  • Initiating the discussion by stating the meeting's goals is another strategy, for example, "Let's start by going over our goals for this meeting."

Establishing Terms

  • When setting the parameters, one might say "What I'm looking for is..." to define needs.
  • Expressing significant concerns can be achieved by stating "My primary concern is..."
  • Clarifying specific objectives is important, with the phrase "What are your particular aims and objectives?" directly addressing this.

Making a Proposal

  • Proposals can be introduced with phrases like "How about we do the following:..."
  • Clearly stating the intention to propose something is another method, such as "I'd like to propose that..."
  • Suggesting a course of action can be phrased as "I think the best course of action is to..."

Rejecting a Proposal

  • Declining an offer can be done diplomatically by expressing it is not a feasible option: "I'm afraid that's not a feasible option for me."
  • Declining an offer with respect can be achieved by saying "With all due respect, I must decline your offer."
  • Expressing the unsuitability of a proposal uses the phrase "Unfortunately, that's not going to work for me."

Negotiating Terms

  • Negotiating flexibility can be initiated by asking "Is your offer at all flexible?"
  • Proposing alternative solutions can be prompted with "Let's consider some alternatives. How about...?"
  • Suggesting an alternative consideration involves asking "Would you instead consider...?"

Arguing Your Point

  • Supporting an argument with research can be phrased as "According to my research,... Therefore,..."
  • Basing an argument on a specific fact can be stated as "I am basing this on the fact that…"
  • Highlighting the importance of a point can be emphasized using "One of the most important reasons for this is..."

Agreeing

  • Expressing complete agreement can be simply stated as "That makes complete sense."
  • Indicating agreement on a specific point can be phrased as "I agree with you on that point."
  • Acknowledging the reasonableness of a statement can be confirmed with "That sounds very reasonable to me."

Disagreeing

  • Expressing disagreement can be initiated with "I have to disagree with you there."
  • Differing perspectives can be conveyed with "That's not exactly how I see it."
  • Acknowledging understanding while disagreeing can be stated as "I understand where you're coming from, but..."

Compromising

  • Conditional acceptance can be suggested with "I can accept that if you could…"
  • Offering an exchange can be proposed with "I could offer you… if you would agree to…"
  • Proposing an exchange for something involves asking "In exchange for… would you be willing to...?"

Clarifying

  • Ensuring understanding can be checked by asking "I just want to be sure I've got this straight. Do you mean…?"
  • Seeking confirmation can be sought by asking "Let me make sure I understand correctly. Are you saying...?"
  • Requesting further explanation can be prompted by stating "I don't feel like I understand your position clearly. Would you mind explaining it again?"

Making Suggestions

  • Introducing a suggestion can be done by stating "I'd like to make a suggestion."
  • Offering a suggestion can be proposed with "I think the best approach is to..."
  • Another strategy for making a suggestion is "Perhaps a good idea would be to..."

Closing the Deal

  • Inquiring about any remaining issues is a good idea by stating "I believe we've covered everything. Are there any other loose ends we need to tie up?"
  • Suggesting a summary can be initiated with "Let's summarize our discussion to see if we're on the same page."
  • Acknowledging the current agreement can be noted as "This is where we currently stand:..."

Strategies for Business English Negotiation

  • Preparation is essential in negotiating.
  • Taking preparatory actions enables deal success in sales, calls, or job interviews.
  • Preparation includes studying the organizational culture and understanding the corporate environment.
  • Understanding the other side’s expectations involves researching the company’s strategic objectives and understanding why the position was created.
  • Preparing research and data means researching whom you negotiate with focusing on market position, product/service, financial position and corporate culture.
  • Identifying areas for compromise means you can offer value through proposals to reach agreement.
  • It is important to trigger a ‘that's right’ moment from the person being negotiated with.
  • Summarizing goals and reaffirming what the counterpart wants helps come to an agreement.

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