Parties to a negotiation typically enter into discussions with predetermined goals. The objective of every individual concerned is to ensure that the outcome of negotiations is as close as possible to predetermined goals. As a stakeholder in a negotiation, you are fully right if you intend to get the best outcome from the discussions. However, it is important to build long-term trust that will be mutually beneficial.
Here is an overview of the five stages of negotiation that will help you negotiate skillfully.
Stages of negotiation that help in achieving positive outcomes
Rather than looking for exclusively beneficial outcomes, it is always a good idea to look at mutually beneficial outcomes. Here are five stages of preparation that will help you to conclude negotiations skillfully.
Stage #1 Preparation- This stage helps you to work positively towards preferred outcomes – by identifying facts and relevant background information. This will help to grasp the points being expressed, and to support your claims.
Stage #2 Discussions- This stage helps you to understand other stakeholders from a broader perspective. This is also the stage where you should be in a position to put forth your submissions in a manner that will help others to appreciate your points.
Stage #3 Bargaining- This stage is the phase where the interests of all parties concerned are achieved through arbitrage. This is exactly where you concede to demands, and where your demands are accepted by the other party.
Stage #4 Conclusion- Confirmation of mutual acceptance of requirements of each other is part of the conclusion stage. This is the stage where you place trust in the other and move ahead with good faith.
Stage #5 Execution- This is the operative stage of the negotiations where all that has been discussed is put into action. This is a stage that demands integrity from all concerned to ensure that actions are carried out in good faith.
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