K TAJ

Business Negotiation

At its most basic, business negotiations are between corporate entities, vendors, and employees. But there is a lot beyond that.
In most of our business negotiations, we try to drive a hard bargain, giving away not a penny more than is necessary even as we strive to ensure that our counterpart is satisfied with their own outcome. However, figuring out who should get what is rarely easy, but creative solutions to problems in negotiation do exist.

Business negotiation can be for a range of items, including but not limited to employee compensation, business acquisitions, vendor pricing and sales, real estate leases, and the fulfillment of contract obligations.
Negotiators are more satisfied with the outcome of a business negotiation when they think the process has been fair, research shows. To maximize satisfaction and build a strong working relationship, don’t leave the process of business negotiation up to chance.

However, there is much more to a business negotiation than the immediate issue of fairness. A business deal of any significant duration is a continuing negotiation between parties, who must apply their agreement to unforeseen circumstances and adjust their relationship to a constantly changing environment. No negotiation can achieve perfect understanding, especially when you and your partners come from different cultures or business sectors.