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Negotiation in Industrial Setting

Negotiation in Industrial Setting

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Published by Rohit Kumar Singh
This is an assignment on negotiation prepared by me for Negotiation and Union Management paper.
This is an assignment on negotiation prepared by me for Negotiation and Union Management paper.

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Categories:Types, Business/Law
Published by: Rohit Kumar Singh on Sep 29, 2010
Copyright:Attribution Non-commercial

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11/02/2012

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Negotiation
Assignment on negotiation Page 1
 Assignment OnNegotiation
 
Negotiation
Assignment on negotiation Page 2
NEGOTIATION
The word ³negotiation´ comes from the Roman word
negotiari
meaning ³to carry on business´ and is derived from Latin word roots
neg 
(not) and
otium
(ease or leisure).Theorigin of this word itself explains a lot about its meaning. It is a decision making processin which two parties having conflicting views and interest try to reach a common positionwhich is in lager interest of all stakeholders. Negotiation has become one of the mostimportant instruments for amicable solution of problems in today¶s world. Whether it is a problem of national scale like international agreements, boundary disputes or businessissues like wage determination, mergers and acquisitions or some labor dispute, nnegotiation is used by both the parties for coming to a solution. Thus we can understandnegotiation in following terms:1.
 
Group Process
: Negotiation is basically a group process where two groups or larger social units with differing point of view but a common objective strive toreach a common position which will define the future conduct of both groups.2.
 
Process
: Negotiation is a process. It is so because negotiation has a defined order of events. It starts with presentation of charter which defines the agenda andtopics to be discussed, moves on to clarifications and justification, bargaining and problem solving, contracting to a common position and reaching an agreement or contract at the end of successful completion of process.3.
 
Bi
part
i
te
: Negotiation is generally a bipartite process where only two parties areinvolved, people who may not be directly related to issue may be present but theycan be supporting or opposing one party or the other.4.
 
S
cope ex
i
sts
: During negotiation considerable scope exists for discussions,deliberations, compromise, mutual clarifications and justification. This is so because the main aim of negotiation is to come to a decision, to find a solution for 
 
Negotiation
Assignment on negotiation Page 3
the problem. So both parties are ready to hear each other¶s point of view and toconsider each other¶s position. Negotiation generally has two aspects, creating value and claiming value (Donald W.Hendon, 1996). Creating value is a cooperative process whereby both parties seek tocreate a situation which is beneficial for both and can realize the maximum potential gainfor both sides. Claiming value is more of a competing process where both parties aretying continuously to increase the maximum potential gain for themselves while tryingfor to come to a solution at the same time i.e. negotiators from both sides are trying togain advantage for their own parties, but are also trying to develop a long-termconstructive relationship between the parties involved in negotiation.
PREPARATION
S
FOR NEGOTIATION
Preparation for negotiation is very important in order to have a fruitful and successfulnegotiation. The amount of preparation becomes evident at the negotiating table. Anegotiator with better preparation is in a much better position while bargaining withopposite party. A badly prepared negotiator is a liability for his party and has no respectfrom the opposing party such a person can seriously jeopardize the process. So in order toavoid any such hassle a detailed and exhaustive preparation should be made well inadvance of the start of negotiation process. Some of the main things which should bedealt with in detail while preparing are:1.
 
Object
iv
es:
The objectives should be clearly defined before the start of process of negotiation. Both the parties should be very clear about the objective for whichthey are doing negotiation. The formulation of objectives should be done withutmost care by taking to all stakeholders. The objectives set by a side should berepresentative of the interests of all stakeholders of that party and should not be

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