SHRI DHARMASTHALA MANJUNATHESHWARA

INSTITUTE FOR MANAGEMENT DEVELOPMENT

BUSINESS NEGOTIATION SKILLS

LEARNING DIARY - 4

Submitted to

Dr. H. Gayathri
Deputy - Director &
Professor - Marketing

Submitted by

Saurabh Singh
PGDM No. – 17084

Batch: 2017-2019

Date of Submission: 01th December 2018

Business negotiation is the subject you cannot learn from books, it comes to you gradually.
You need to develop various practices to make this in your behaviour. As this is the last
diary, I would like to mention what I learned till or what I got from this subject.
We learnt few things in more detail after the process of negotiation like how important it
is to decide the goal and objectives of the negotiation. How to deal negotiation like
aggressively or to collaborate. How to handle pre negotiation where one can
influence(manipulate is a very negative word) the situation through place, timing or
emotion.
There are various tactics which is used by the seasoned negotiator like

1. Always have a hypothetical offer so as to make the other party feel that you’re not
using either of the first two tactics.
2. One can have a designated demand as a pre-condition to negotiation, which already
puts you in a competitive position.
3. Always ask for the offer from the opposite party, and never reveal your offer before
them in the beginning.
4. Remain silent and listen to what opposite party is speaking, as you may get clues of
what the opposite party is expecting of the negotiation.
5. Another great tactic is so make the first demand very hard for the opposite party to
accept, so that the very next demand the opposite party might give in.
6. Try to keep your major demands at the beginning, as there might be time constraints
at the end.

When You’re on the opposite party, what tactics can a person use?

1. Delay the closure of the deal- When doing this, it will bring down the aspiration
levels of the opposite party.
2. Try to speed up the closure, to make the other party uncomfortable and that will lead
high pressure for the opposite to party to close the deal.
 3. To get the information form the opposite party. Ask more and more questions. The
questions must always start with General and move to specific then to probing
questions and at last Closing questions.

Always try to analyse the situation and try to look through their tactics or strategy.

Planning counter tactics

Whenever you feel that some tactics is playing on you, take your time to analyse the
situation and don’t take decision in haste. Slow the negotiation process so that you’ll get
time. Try to use batna on them.

Few of the Possible alternatives include

1. Disclose their Tactic.

2. Use Same Tactic Back

3. Ask a Question

4. Acknowledge and Deflect

5. Time delay

6. Ignore and Persist

7. All tactics are also counters.

There is a chance that your negotiation might move to a deadlock, when there is no mutual
agreement, Skilled negotiators should identify if deadlock is in the content, or in the
process.

Summarize
When I came across this subject, I gained real and actionable suggestions or scenario which
earlier I thought is very normal.

More specifically I learned

• Ask for a renegotiation – Most people have an innate desire to be fair and they may
be willing to reopen a discussion before the end of your contract period
• Present a concrete case – By presenting clear evidence of a lopsided contract, you
can appeal to the other side’s sense of decency and desire for a good faith
negotiation
• Make attention-getting moves – Help your counterpart situ up and take notice by
refusing to meet the contested contract terms
• Bring out your cannon – Sometimes a show of power works, so put heavy hitters in
charge of negotiating contract revisions
• Create breaks – Try experimenting with a shorter contract that allows for natural
breaks for review and renegotiation
• Prepare for disputes – Disputes are often inevitable so add a clause to your contract
that requires renegotiation, mediation, or arbitration in the event of a disagreement
• Avoid quick fixes – It’s not unusual to want to latch on to the fastest fix in a business
negotiation; however, it’s best to take the time to make a careful decision

So in overall Business negotiation helped a lot to see the negotiation world from different
perspective and I am glad that I took this subject.