Easwari

Career Adviser

Top Mistakes to Avoid in Negotiations

23 Comments


Top Mistakes to Avoid in Negotiations

Top Mistakes to Avoid in Negotiations : 

Negotiation skills are essential in all fields including IT consulting. They play a crucial role in career development discussions. However a majority of professionals are yet to master the art of successful negotiation, which involves keeping the big picture in mind and pursuing benefits from all possible situations. Losing sight of the whole picture during a negotiation almost definitely leads to mistakes. Being aware of common mistakes is necessary to avoid them.

Pre-existing assumptions: Most people approach a negotiation with pre-existing assumptions. The most common assumption is that the ‘pie’ or the size of the deal in question is fixed. But in a majority of cases it is not so. Assuming limits where they do not exist can cost you dearly.

Insufficient preparation: Thorough pre-negotiation preparation is extremely important. Some of the vital aspects that need to be considered include time constraints, your bottom-line and your walk away point. You also need to make contingency plans in case the negotiation does not lead to an agreement.

Lack of proper anchors: Anchors play a very important role in the success of a negotiation. If a negotiation is started without establishing clear bases, the likelihood of it resulting in productive outcome is low. Missed opportunities are another big disadvantage of the lack of proper anchors.

Not paying attention to the opposite party: Successful negotiators understand the opponent’s stand and their view of the situation. This makes it easier for them to present their own offer in such a manner that it appears favorable to the opponent. This can be crucial in ensuring desired outcome.

Insensitivity to cultural differences: Cross-cultural negotiations significantly differ from the negotiations conducted at home. Understanding these differences is vital. Sensitivity towards these differences can enhance the chances of favorable outcome, while disregard towards them is likely to lead to trouble.

 

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Author: easwari22

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23 thoughts on “Top Mistakes to Avoid in Negotiations

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