Saturday School would like to announce a brand new series of short episodes on our blog! Under the „negotiations” title you will find basic tips, advice and notions, prepared for you by our lecturer- Agnieszka Regiec. All presented ideas are further developed during our Legal and Business Negotiations Course. Enjoy reading 🙂
Negotiating an agreement is a process, which should be carried out like a dance – step by step. You cannot think of it as a one, coherent, single-stage activity. Each negotiation consists several stages. Elements within each stage can be mixed or alternated between competitive and cooperative style. All stages require comprehensive overview before they begin. These stages are as follows:
- Preparation and Setting Goals
- Initial Interactions
- Information Exchange
- Impasse or Agreement
- Finalizing the Deal
First stage of negotiation is based on planning and research, assessing power of each party, formulating bottom line and BATNA. The last step of this stage is to set goals. Second stage – initial interactions may vary depending on the setting of the negotiation. In general, it helps establish basic level trust between the parties that enables actual negotiation process. It may finish by agreeing on the agenda. Third stage is based on asking questions, active listening, sharing some objective criteria regarding the negotiated issue, some initial bargaining. Fourth stage is based on arguments and persuasion methods, making offers and concessions. In the fifth stage parties can achieve either a draft of an agreement or an impasse. If the agreement has been reached, stage six consists of preparing opposing drafts of agreement, negotiating the final draft to be signed and approval followed by ratification.