The paper "Importance of Negotiation Skills in Business Environment" is an outstanding example of a business essay. Negotiation is an integral part of business as it helps to solve ambiguities and defines the terms of the negotiating parties. There are different types of negotiations that can be used. This paper considers the three major types of negotiations, their uses in the business world and also both the advantages and disadvantages of using either type of negotiation. Two cases of negotiation have also been analysed so as to illustrate better the different uses of the negotiation types.
Engaging in any form of negotiation calls for a height of negotiation skills. The skills of great negotiators are also considered in this paper. The choice of the negotiators analysed was based on the way they guided the negotiation process and the results they obtained. OVERVIEW OF NEGOTIATING SKILLS To better appreciate what negotiation skills are it is important that we begin by defining what is negotiation. Negotiation can be simply defined as a process of settling differences between parties with conflicting ideas, and with which the parties reach an agreement while avoiding an argument (Bezerman et al, 2000).
While negotiating, individuals in business try to reach the best possible outcomes that suit their organisations. However, during the process of negotiation principles of mutual benefit and seeking fairness are upheld so as to maintain good business relationships between the different parties and ensure that the desired outcome is achieved. Individuals that engage in any form of negotiation, must possess a particular set of skills so as to represent their organization well. According to Fisher et al (1991), during the negotiation process, one needs to capture the attention of the other party so that they can have them listen to their ideas.
The negotiation process may also put one at the receiving end and hence skills are required to ensure that they are able to react calmly when this occurs. Without good negotiation skills, an individual is bound to misrepresent his organisation hence making it lose out at the end (Fisher et al, 1991).