Effective Negotiation Strategies

HilariousAwe avatar
By HilariousAwe

Quiz

Flashcards

14 Questions

What is a union?

How is a union formed?

Are unions becoming more or less powerful?

What is meant by 'bargaining power' in labor relations?

What is the opening position in a labour-management negotiation?

What is the resistance point in a negotiation?

What is the advisable approach to the first offer in a negotiation?

What does effective negotiation involve?

What should never be disclosed to the other side in a negotiation?

What is crucial in negotiation according to the text?

What type of process is negotiation according to the text?

What is essential in effective negotiation according to the text?

What can negotiation practice be done on according to the text?

What does the success of negotiation depend on according to the text?

Summary

Negotiation Preparation and Effective Negotiation

  • To prepare for a labour-management negotiation, both sides must decide on the opening position, target, and resistance point.
  • The opening position is what each side presents at the beginning of the negotiation.
  • The target is the realistic goal secretly desired by each side, based on the opening position.
  • The resistance point is the lowest point each side is secretly willing to accept.
  • Effective negotiation involves being informed and prepared, being firm but reasonable, and staying calm and professional.
  • It is advisable to reject the first offer and lead with your list price.
  • Listening, being patient, and considering all negotiating topics are essential in effective negotiation.
  • Taking time, prioritizing, and valuing exchanges are crucial in negotiation.
  • It is important to never disclose the bottom line (resistance point) to the other side.
  • Negotiation practice can be done on various issues such as peace between North and South Korea, Israel and Palestine, tax policy, and school uniforms.
  • Negotiation is a strategic process involving careful planning, clear communication, and skillful execution.
  • The success of negotiation depends on being well-prepared, strategic, and adaptable to the situation.

Description

Learn about negotiation preparation, effective tactics, and strategies for successful negotiations. Understand the importance of setting opening positions, targets, and resistance points. Explore the key elements of being informed and prepared, firm but reasonable, and calm and professional in negotiations.

Make Your Own Quiz

Transform your notes into a shareable quiz, with AI.

Get started for free

More Quizzes Like This

Negotiation vs
5 questions
Negotiation vs
IndebtedPinkTourmaline avatar
IndebtedPinkTourmaline
Dealing with Supplier's Bargaining Power
3 questions
Negotiation Goals and Strategies
20 questions