A retail business can apply the negotiation strategies discussed in this book by first understanding the needs and wants of the other party, which could be suppliers, customers, or employees. This can be achieved by investing time in preparation and research. The business should also foster a collaborative environment and encourage good listening skills among its negotiators. Depending on the situation, the business may consider using influence or persuasion instead of negotiation to resolve conflicts. Remember, effective negotiation is not about being the smartest or the most clever, but about understanding the other party's needs and wants.
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Negotiations are polarizing; people tend to love them or hate them. A common misconception is that only competitive, cut-throat sharks can be successful negotiators. But you do not need to build up a thick skin in preparation for a negotiation. Social science experiments have shown that the most effective negotiators are people who like to collaborate and are good listeners who spend lots of time in preparation and research. One of the keys to effective negotiation is not how smart or clever you are, but how much you know about what the other side needs and wants. Depending on the situation, you may even consider taking an alternate route other than negotiation to resolve a conflict. Here is a chart that shows when you may need to progress to a negotiation situation rather than just using influence or persuasion to get what you want or need.