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Bargaining and Negotiation

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I enjoy bargaining as it is one of the most important tools we use in our daily life to make decisions and it helps me to improve my communication skills. Being a good bargainer would help you deal with various issues within the corporate world where you deal with employees, subordinates, higher management and can you present your interests easily. I find it easier to negotiate if i know the record of other party (how did they deal with previous similar negotiations) and that would help me to set the terms for a meeting and to decide what my best alternatives are.

I mostly enjoy attempting to persuade others to my pov .In my opinion conflicts doesn’t take you anywhere whereas it is better to persuade the person by offering different packages or deals. Moreover i would see the person’s interest and then compare mine to find out the similarities so that we can at least end up with a win-win situation. Conflict can result in damage of the reputation you have built up for example if we see the Viking case, if i was the owner of Viking investments it would be hard for me to gain trust on sandy because of the decision made by her at my absence would cost me more even though she was thinking for the company, it could have resulted in damage of the relation among the two parties which was held by trust for 6-7 years.

Strengths

  1. Good Listener: I think I’m a good listener because I tried to listen to it and everything the person has to see and then analyzed on the basis of the information provided to me so I do rely on the other person to provide me correct information and I make judgments based on that.
  2. Intuitive: I think I’m intuitive because I trust my gut and rather listen to it , during on one of the cases discussed there was a moment where I trusted my instincts and I got to know that the other person negotiating with me is bluffing and I was right.
  3. Communicative: I can communicate well because I can understand the other person’s interest and let them know my interests. You also need to speak with your expressions your body language your gestures that will catch the attention of the other person and one thing you can do is you can maintain a poker face so that you don’t give all your emotions away if you want to play smart.
  4. Patient : While negotiating being patient can prove one of the most good characteristics because you need to listen what the other person is mentioning and you also need to develop trust maintain your integrity also not to lose your temper and make good decisions with sane mind.
  5. Good Judgment: I make good judgments because I have a sense of what is fair and what is not fair , if the judgment cannot be won by me then at least it should be a win situation but not necessarily if I don’t agree to same interests we can always walk away.
  6. Understanding: I have a sense of understanding because I know why are people telling their interests and why are those interests important to them and by fulfilling them will help them and understanding is not always about myself it is also about putting yourself in their shoes and understanding their prospective and vice-versa.
  7. Time Management: Time management is one of the most important things which I believe is required for negotiation, I’ve been working in the past few cases and I think I have completed most of the cases within the time period and I haven’t decided to start it very quickly or end with the case very quickly because I need to see what will be the outcomes and how does it affect me this also helps me in making a good judgment.

Weaknesses (a good negotiator should not allow other people to discover their weaknesses as it can be used as leverage):

  1. Unprepared: I might not be prepared for a few pop-ups that could come as a surprise to me if you talk about the case of Viking Investments I was playing the role of Sandy and it was very difficult for me when I came to the decision that I have to sell my house because I had no other options to pay the money.
  2. Low Confidence : I think I have low confidence or if you see tower market case I was playing the role of the person who sells liquor and I was not able to meet my expectations but I did settle so that I don’t lose what I already gained
  3. Underestimating power: Usually what happens when I read the case I am unable to identify the power I hold. Holding power in a situation while trying to achieve my objectives and getting other people to do what I want them to do and having them like it. People whose position is getting stronger usually make start making their demands higher and people do not realize when that position is getting weaker that do not reduce the demand and are stubborn at the same place. Just because I have more powers than the other person does not mean that the other person needs to think that he or she has less power than me or else it wouldn’t be a fair game. Holding power can make you not see what the other person needs you just look at what you need and what you require, if I hold less power than I would feel very miserable and I think in the case of Viking investment where I was playing. Sandy I had no power and that is why I had to sell my house to pay my debt but I if I had some authority I think I would be able to save my house and would have been able to make better decisions what I have been taught in business schools is that at the higher authority you have to hire a power you have the list of responsibility you have so if I have more of responsibility that means I have less of power or authority.

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Bargaining and Negotiation. (2019, March 27). GradesFixer. Retrieved June 21, 2021, from https://gradesfixer.com/free-essay-examples/bargaining-and-negotiation/
“Bargaining and Negotiation.” GradesFixer, 27 Mar. 2019, gradesfixer.com/free-essay-examples/bargaining-and-negotiation/
Bargaining and Negotiation. [online]. Available at: <https://gradesfixer.com/free-essay-examples/bargaining-and-negotiation/> [Accessed 21 Jun. 2021].
Bargaining and Negotiation [Internet]. GradesFixer. 2019 Mar 27 [cited 2021 Jun 21]. Available from: https://gradesfixer.com/free-essay-examples/bargaining-and-negotiation/
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