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A small business can use the negotiation strategies discussed in the book to grow and succeed by first identifying the type of negotiation they are entering into. This involves understanding the importance of the relationship and the level of conflict over the issues at hand. Once this is determined, the business can then apply the appropriate strategies. For instance, in a high-stakes negotiation such as a business merger, both the importance of the relationship and the level of conflict are expected to be high. In such a case, the business should prepare by researching what the other party is really looking for and the standards and norms they will adopt. This will help the business to plan its approach and negotiate effectively.
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To prepare for a negotiation, first assess the type of negotiation you will encounter and shift your approach accordingly. As discussed previously, research things like what they are really looking for and the standards and norms they will adopt. Here is a simple framework for beginning your preparation. Plot where the negotiation lies on the dimensions of the importance of the relationship and the level of conflict over the issues at hand. Then, use the recommended strategies in each quadrant to plan your approach. For example, a business merger where both leaders will remain in place would fall in quadrant B, where both conflict and the importance of the relationship are expected to be high.
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Ever wonder what makes a great negotiator? Read this book summary to learn about the latest social science and psychology research on negotiation. Get...
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