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Will Your Company’s Negotiation Strategy Succeed?
by Accordence Managing Director Grande Lum
and Senior Consultant Michael Chaffers
Does your company face any or all of these issues: global competitors, product commoditizing, alternative sources of supply, shrinking margins, larger deal sizes? All require an effective negotiation strategy. In fact, being a leader today requires most businesses to transform the way they have traditionally negotiated. We’ve observed that today’s successful negotiators use the following techniques:
 Negotiate more rapidly
Since competitors, partners, and buyers can quickly access competitive data and information to land deals overnight, transactions are conducted in a compressed timeframe. In this environment, negotiators that prepare well can move decisively. The better they know their goals and those of the other party, the more creative ideas they can generate, and the faster they can put together a workable deal. When business opportunities appear and vanish almost overnight, this ability to negotiate quickly conveys a real competitive advantage.
Collaborate with traditional adversaries
Because it moves so quickly, the new economy rewards those companies that can cooperate in certain areas while they compete in others. These companies succeed in coming together by learning how to balance short-term gains with long-term goals, and by creating agreements that are in the interests of both parties to implement. A greater level of candor concerning strategic objectives, and a greater willingness to resolve problems quickly and satisfactorily, enables them to form the solid relationships that enable long-term joint ventures to succeed.
Manage internal relationships
The new economy, shaped by the Internet and globalization, also rewards businesses that collaborate internally in spite of traditional organizational divides. Whether bringing labor together with management, or research with marketing, successful companies devote much effort to develop smoothly working internal relations, resolve conflict efficiently, and problem-solve collaboratively. When conflicts arise over turf issues or personalities, these companies easily separate relationship issues from the substantive issues—and address each type of problem directly and constructively. Consequently, these companies benefit from their ability to form and utilize flexible, fluid teams.
Advantage alliance partner Accordence serves organizations' needs to negotiate successfully by maximizing negotiation as a competitive advantage.
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Learn more about mastering the art of negotiation with Just Negotiate®, from Accordence. |
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