CHANGE

Change is Constant and leads to growth & development Change will not stop- it will only go faster. All companys vision is based on continuous growth of its people To compete we need to change with the changing needs. No matter how well planned, change will not be trouble free Each of us is accountable to making change acceptable Our actions, behaviors and communication are the keys to successful change implementation To manage change, we must manage ourselves first, influence others later What is this program about? This program is about CHANGE! Why we need to change? What needs to be changed? How are we going to be Change it? Some hard realities expected.A Challenge Business organizations in Pakistan expect to cut on average 15 percent or more of their workforce over the next five years Mergers in last five years in Pakistan have affected nearly 500,000 jobs and more mergers are expected. Organizations will continue to change hands. The take over trend is expected to increase over the next five years. Pakistani banks will have to dramatically go in for higher productivity & innovation to stay in business.

Business in our region in the last one decade has changed!

 It continues to change whether you like the Change or not. Its no longer our Fathers World! What is Change Management? Change is the process of moving from the present situation or current state to the desired future situation or the vision of the future. It involves a degree of transition which may also result in pain for some, or more commonly, all Desire to Change is driven by our visions of tomorrow and based on what we learned yesterday. The approach to Change Change Management is a structured approach to transitioning individuals, teams, and organizations from a current state to a desired future state. An important fact about Change One thing is true: all change involves loss. Even if what we are losing is an out-of-date, inefficient, and 'less fun' way of working, it is still a loss. Even if we are glad to lose it, it is still a loss. So, what happens to us when we are faced with loss? A common model used for workplace change is an adaptation of Elisabeth Kbler-Ross's theory about loss and grieving, which states that we go through a number of distinct stages, such as. The cycle of Change Denial. I wont do it. Denial is simply refusing to acknowledge that an even has occurred. "I don't believe it."; "It's just another hair-brained idea from the top." "It will never happen here." When you appear to deny a situation, then the other person may join you in the denial

 Resistance I cant do it As human beings we tend to show a resistance to change. "I won't do it - you can't make me."; "What's so damned bad about the way things are? "The old way was better." Exploration I may do it. "How will it work with X?"; "What if we tried Y?" "Maybe we can get through this." I will do it Commitment "This is how we do things now. Why did we not think of it earlier? I am doing it and it is Working! It may be that you don't experience all the stages equally or even in this order - people differ - but it's probably fair to say that this will seem familiar to you. The top 15 reasons why change fails in an organization

 1. People leading the change think that announcing the change is the same as implementing it. 2. Peoples concerns with change are not surfaced or addressed. 3. Those being asked to change are not involved in planning the change. 4. There is no urgent or compelling reason to change. The business case is not communicated. 5. A compelling vision that excites people about the future has not been developed and communicated. The top 15 reasons why change fails in an organization 6. The change leadership team doesnt include early adopters, resisters, or informal leaders. 7. The change isnt piloted, so the organization doesnt learn whats needed to support them change. 8. Organizational systems and other initiatives arent aligned with the change. 9. Leaders lose focus or fail to prioritize, causing death by 1,000 initiatives. 10. People are not enabled or encouraged to build new skills. The top 15 reasons why change fails in an organization 11. Those leading the change arent crediblethey under-communicate, give mixed messages, and do not model the behaviors the change requires. 12. Progress is not measured, and no one recognizes the changes that people have worked hard to make. 13. People are not held accountable for implementing the change. 14. People leading the change fail to respect the power of the culture to kill the change. 15. Possibilities and options are not explored before a specific change is chosen. What we as branch managers, operation manager or as sales professional who are referred to as Front Line Managers should do when we are faced with workplace change:

 Overcome your nostalgia: we see the past through rose-tinted spectacles; the 'good old days' were not necessarily better and whether you like it or not, Understand that the future is here to stay, until it changes again. Engage with the change: Think positive and keep yourself in the loop. Otherwise, you be left out as your more forward-thinking colleagues go on to build their reputations and careers, influence the changes as they happen and even enjoy themselves in the process. Accept that mistakes happen: poor communication, missed opportunities, failure to consult - no project (or project manager) is perfect and oversights will occur. If you can be constructive about these problems, this is your chance to... Get involved: ask questions, make suggestions, look for a role that you can fill. Help make the change a success and you can look back on the process with pride rather than resentment. Change has always been with us in the corporate environment; the difference is that the pace of change has increased and will probably continue to do so. Remember: think positive! Change is not your punishment; it is your opportunity. Here are several coaching tips to help you work through change: Tip #1 - Actively listen without speaking. When a change idea is presented to you, actively listen to what is being said. Invest some time to think about the change. Tip #2 - Discover the beliefs. Change affects our beliefs (foundational thought processes and sum total of all our experiences). These beliefs may cause a negative gut reaction thus preventing us from seeing the potential within this opportunity. Tip #3 - Share with a mentor. Talking the change over with a mentor or a coach may help you better understand the value of the change. These individuals may not have your beliefs and can provide a different perspective. Tip #4 - Associate with positive energy. Being negative is far easier due to conditioning than being positive. When you associate with those who are positive, you begin to view the world differently and are more willing to consider change.

 Tip #5: Separate the facts from the FEAR. Through years of negative conditioning such as "Don't talk to strangers," we have a lot of False Evidence Appearing Real and these FEARs cloud the facts as well as our decision making process as we look to embrace change. What would happen if you looked to manage change as a potential positive instead of the standard "OMG" negative response? Who knows you may even smile as you drive through that traffic circle or face the next big issue? Job satisfaction survey Happy employees are an asset and unhappy employees are not. This survey determines your level of Happiness at work After you have completed it please hand it over to us. THANKS Group Discussion Let today be a new beginning Ask yourself What did we do well over the past 5 years? Where did we fall short in our personal and professional lives? How can we improve ourselves in the coming year? And most importantly, what changes are we actually going to make? Your Success Potential Success is largely dependent on attitude. This quiz will determine your attitude toward Success. After you have completed it please hand it over to us. THANKS Top Managements perspective of Change Top management has a hard time coming to grips with the direct implications of the change. They often underestimate the impact that change has on their employees. They tend to isolate themselves. Often they engage in strategic

planning sessions and gather information in survey reports. They avoid communicating or seeking "bad news," because it is difficult for them to admit "they don't know." They expect employees to "go along" when a change is announced and they blame their middle managers if people resist or complain about the change. They often feel betrayed when employees don't respond positively. Middle Managements perspective of Change Managers in the middle feel the pressure to "make organization change" according to the wishes of top management. The feel pulled in different directions. Middle managers often lack information and leadership direction to focus on multiple priorities. They are caught in the middle, and often fragmented because they don't have clear instructions. They feel besieged with upset, resistant or withdrawn employees who no longer respond to previous management approaches, and deserted, blamed or misunderstood by their superiors Employees/Workers/Associates perspective of Change Workers often feel attacked and betrayed by changes announced by management. They are often caught off guard, not really believing that "my company could do this to me." Many respond with resistance, anger, frustration and confusion. Their response can solidify into a wall of "retirement on the job." They become afraid to take risks, be innovative or try new things. They experience a loss of traditional relationships, familiar structure and predictable career advancement patterns. Change is with us! We have three options Change Reactively by responding only when we have no choice Change Proactively by anticipating the needs of the future in advance. Decide to ignore Change and hope that it will go away. Module Two Managing during Change Peoples problems during the during the period of CHANGE

 The problem of uncertainty As a Good change manager: You must understand that uncertainty may be worst than bad news You must ensure that any news of development of proposed changes is communicated to the staff ASAP. You must maintain consistency in communication ensuring that your words and actions are consistent. The problem of un-controlled Expectations As a Good change manager you understand: Expectations should not be allowed to become too high or remain too low. Unrealistic expectations will lead to a sense of anti-climax and lowered morale. Your own expectations must also be kept under control and be realistic. Excessive pessimism and complacency are equally bad The problem of motivation As a Good change manager you understand: An enthusiastic approach does not just happen it has to cultivated and nurtured It is important to stay in touch with your staff, their feelings, problems and with progress. You must demonstrate your commitment to change and appear motivated yourself. While you acknowledge achievement with praise, you must action when deadlines are not met. The problem of role ambiguity

As a Good change manager: Understand that changing situation unfolds, the tasks and responsibilities that make up individuals roles or jobs will change. Pay special attention to what additional training or coaching some jobs may require. Ensure that all job descriptions providing specific roles and duties is communicated to all who are being affected by change. The problem of balancing hard & soft management As a Good change manager you require: Sympathetic, encouraging & understanding attitudes on your part. To make firm decisions and responses along with clear direction to the staff without delay. A capacity and disposition to sometimes say NO To anticipate all probable questions from the staff and prepare yourself with all answers The problem of maintaining & perpetuating commitment to existing systems As a Good change manager you understand: Change may impose a strain on staff who are required to work harder and longer. Staff cannot be expected to devote their best efforts to creating a situation that may lead to their redundancy or demotion. Staff must not be allowed to take shortcuts or maybe defer work in the hope that that new system will make it easier or even redundant. Kert Lewin Model Unfreezing, Unfreezing the present level of performance Changing

Moving to a new level and Refreezing Freezing group life at the new level ADKAR Model Awareness of why the change is needed Desire to support and participate in the change Knowledge of how to change Ability to implement new skills and behaviors Reinforcement to sustain the change Employee resistance to change should be expected Many employees will resist change. How they resist and the choices they make can influence the success of your change project, the impact on productivity and employee morale, and ultimately employee turnover. In some cases choices the employees make may have negative outcomes. These choices may be bad for you and for them. Other choices they make will benefit them and enhance their ability to thrive in a changing organization. What should you do when managing Change Manager should anticipate resistance to any change effort, prepare for it, and make special efforts to assess and deal with individual reactions to change. Manager must develop the proper attitude toward resistance to change and realize that it is neither good nor bad. In fact, resistance can serve as a signal that there are ways in which the change effort should be modified and improved. Understand how change effects people Nothing is as upsetting to your people as change. Nothing has greater potential to cause failures, loss of business, or falling customer service quality. Resistance to change comes from a fear of the unknown or an expectation of loss. The front-end of an individual's resistance to change is how they perceive

the change. The back-end is how well they are equipped to deal with the change they expect. Understand how some one may perceive Change A promotion is usually considered a good change. However an employee who doubts their ability to handle the new job may strongly resist the promotion. They will give you all kinds of reasons for not wanting the promotion, just not the real one. Understanding the employee resistance to CHANGE The Top 10 Reasons why Employees Resist Change The individual's personal predisposition to change. Surprise and fear of the unknown. Climate of mistrust. Fear of failure. Loss of status and/or job security. Peer pressure. Disruption of cultural traditions and/or group relationships. Personality conflicts. Lack of tact and/or poor timing. Not seeing the benefits. The other reasons for employee resistance are A lack of awareness about the change Comfort with the ways things are and fear of the unknown. The individual's personal predisposition to change. Surprise and fear of the unknown. Climate of mistrust. Fear of failure. Loss of status and/or job security.

 Peer pressure. Disruption of cultural traditions and/or group relationships. Personality conflicts. Lack of tact and/or poor timing. Not seeing the benefits WHAT DO WE HEAR? WHAT ARE PEOPLE ASKING? Why is this change happening? How soon will this happen? How will this effect me? Will I receive new training? Whats in it for me. I doubt they are really serious about this. This is a waste of time. Why change if it was working just fine before? If it ain't broke, don't fix it. They never tell us whats going on! We must not be contended with glorious past. We often see stagnation in management when a business has grown large and rigid with passage of time. Stagnation and retardation do not come within our scope of corporate philosophy. We stay committed to continuous innovation to meet the changing needs of our business. Innovation will be the driving force for us to keep us ahead of our competitors. Teisuke Kitayama President Sumitomo Mitsui Financial Group (SMFG) Forget to Learn The problem is never how to get new, innovative thoughts into your mind,

but how to get the old ones out. It is not the strongest of the species that survives, nor the most intelligent, but the ones that are MOST RESPONSIVE TO CHANGE. Charles Darwin "The talk you hear...about adapting to change is not only stupid, it's...dangerous. The only way you can manage change is to create it. By the time you catch up to change, the competition is ahead of you." Peter Drucker Change has always been us since this world started. What has changed in the new millennium is the Speed & Quantum of Change which has multiplied a hundred times. Ms. Musharaf Hai, Country Manager, LOREAL INT. Change takes but an instant It is the resistance to Change that can take a lifetime. When the rate of change outside your organization exceeds the rate of change inside The End is in sight Jack Welch

Being One step ahead is not good enough, you need to be 3 steps ahead!

Time Management
TIME MANAGEMENT Q. What do we need to get the job done? A. We need resources such as: a. Money b. Manpower c. Materials d. Machines e. Time Which is the one resource that is not replaceable? What should be Broad objectives of our program, MAXIMIZE OR TIME?

Time Management - how to achieve more with your time How much is your time worth? How effectively do you use your time now? Choosing what to achieve How to plan effective use of time Using goal-setting for personal planning How to get more out our time? - Can I have more than 24 hours in a day? - Can I afford to not do things that are necessary & needed? Since the answer is NO to those both the questions, what we need to do s to Balance our time How do we balance our time? Here are few suggestions Spend time in Planning and

Organizing: Think and Plan Organize in a way that makes sense to you Set Goals: Decide what you want to do Take a SMART approach Goals give you required direction How can we Maximize our Time Prioritize and identify what you value Flagging/Highlighting can be very helpful Once prioritize, concentrate on those that would add value Use a to do list: Find out what is urgent and important Put them in order of preferences One completed delete them from your list Be Flexible: Allow time of interruptions and distractions Save larger block of time for priorities Ask yourself questions and get back to your goal How can we Maximize our Time Consider your Biological Time: Find out which is the best time for you study Are you a morning person? A night owl? Late Afternoon?

 Do Right Things Right Doing things right is Effectiveness Doing things right is Efficiency Focus first for Effectiveness Concentrate on Efficiency How can we Maximize our Time Eliminate the Urgent: Urgent tasks have short term Consequences Important tasks are long term and goal related Flagging and or highlighting items are important Attach deadline to each of the item Conquer Procrastination Learn to say NO Reward Yourself Time Management Matrix Examples of some of the biggest time wasters that keep you in Quadrants I and III Indecision Think about it, worry about it, put it off, think about it, worry about it, and so forth Inefficiency Jumping in and implementing instead of analyzing and designing first Unanticipated interruptions that do not pay off Procrastination Failing to get things done when they need to be done Unrealistic time estimates Unnecessary errors You did not have enough time to do it right, but you had enough time to do it over? Examples of some of the biggest time wasters that keep you in Quadrants I and III Crisis management Poor organization Ineffective meetings

 Doing urgent rather than important tasks Poor planning and lack of contingency plans Failure to delegate or delegation of responsibility without authority Lack of priorities, standards, policies and procedures Time savers that will allow you to work in Quadrant II: Manage the decision making process, not decisions Concentrate on doing only one task at a time Establish daily, short-term, mid-term, and long-term priorities Handle correspondence expeditiously with quick, short letters and memos Throw unneeded things away Establish personal deadlines and ones for school assignments Do not waste other peoples time Let us start. Get rid of busy work Maintain accurate calendars; abide by them Know when to stop a task, policy, or procedure Keep things simple Ensure time is set aside to accomplish high-priority tasks Set aside time for reflection Use checklists and to-do lists Adjust priorities as a result of new tasks Can we do something A POSITIVE APPROACH Stop complaining about all the things you don't have time for and start listing the things that you do have time for. Then do them.

BUDGET YOUR TIME Parkinson's Law indicates that work expands to fill the time you have available. So allocate realistic amounts of time for your various tasks. The more important the task, the more time you can afford to spend on it. Its all about choices A LIFE OF CHOICES Time management consists of making wise choices. There is only so much time available, regardless of how desperately you try to manage it. The secret is to use your time on the most important things. Choose those things that will have the greatest positive impact on your life. And give yourself permission to leave the rest undone. Time management is not popular WHY PEOPLE DO NOT PRACTICE TIME MANAGEMENT - Most of them do not know about it - They are too lazy to do it - They thing it is a waste of time - They thing it will take too much time and they do not have Time What are we doing EVALUATE THOSE ACTIVITIES List all the activities in which you are currently involved and for each one ask whether it contributes to your personal values or well being. If it simply consumes time and energy, get rid of it. MEETINGS, often a waste. six reasons why meetings waste time: The wrong people attend. No agenda is prepared in advance. No definite end time for the meeting. No directed discussion to keep the meeting on track. No real purpose for the meeting other than tradition.

No accountability required of attendees. Getting work done REVIEW YOUR PLANNER At the end of each week, briefly scan the events of that week as recorded in your planner to ensure there are no follow-ups that have been overlooked or rescheduling of cancelled meetings that have to be done. HANDLING A BIG WORK LOAD We do what must be done first, what would be helpful to do second, and leave the extras for last. How do we go about DO IMPORTANT THINGS EARLY It gets harder to find time to do things as the day goes on. So schedule the most important tasks in the morning - the earlier the better. UNCLUTTER YOUR MIND You may pride yourself on having a phenomenal memory, but why risk it. Clearing your mind of all those ideas will reduce stress as well. So get into the habit of immediately jotting down all those ideas and tasks that come to mind. Have a small note pad and pen - or a PDA - with you at all times. What to do ASK THE WORLD One of the greatest timesavers is to ask for help. Take advantage of the technical support, advice and help offered ONE MORE TIME-SET GOALS. Goals force us to focus on what's important in life. We can't do everything, but we can do those things that are most important to us. Where does time go WHEN SCHEDULING TASKS Always allow 50% more time than you think the job will take (to allow for interruptions). Have calls intercepted by voice mail during this time. Leave unscheduled time between jobs so you can insert other priorities without affecting the time you have already scheduled. Lets save time

A PERSONAL NOTE Don't be so obsessed with saving time that you don't enjoy the moment. Time is life and it passes quickly. Use it before you lose it. CRUISING AIMLESSLY Don't waste time by cruising cyberspace without an objective. Have a purpose in mind before connecting. Saving time CLARITY IN COMMUNICATIONS Regardless of whether it's a business letter, e-mail or voice mail message, be sure to be specific in telling the person what you expect them to do as a result of the communication. BE PROACTIVE Anticipate any problems before you take the action. Then you can trouble shoot before you encounter the trouble. Some time savers TIME SAVERS OR LIFE TAKERS? Beware of timesavers that involve cutting back on sleep time, doing two things at once or utilizing driving time. The time they shorten may be your own. DELEGATION If you earn Rs. 3000 per hour and a staff member earns Rs. 300 per hour, it would still pay you to delegate a job to your staff member, even if it takes the individual twice as long. So don't assume that being able to do a job better is a legitimate reason for not delegating. Time savers. LABEL EVERYTHING Take a minute or two to label everything from extra keys to power cords. You will save time by knowing what every item is for. USE DASH FORMULA Do it. If you are able to do it now and it will only take a few minutes, do it now and get it over with. Assign it. Dont spend valuable time on things that can be delegated to others. Scrap it. Dont keep anything you can do without. When in doubt, throw it out. Hold it. If you must do it and theres no time now, either schedule a time to do it later or add it to your to do list.

Negotiations
Yes You can Negotiate Anything For my BBA students in their final semester of Spring 2012 at IoBM Navaid M. Khan

What is this topic about Understanding The basic concepts of negotiation Knowing The different Negotiation Stages Developing a Plan for Your Negotiation Using The Power of Persuasion What is this all about Using The listening skills in the negotiation process Crafting A Strategy for Your Negotiation Applying What weve learned to plan a

Negotiation for back on the job Understanding The basic concepts of Negotiation What is Negotiation Negotiation is the process of bringing together your ideas and your customers ideas to produce an agreement. It is a dialogue intended to resolve disputes, to produce an agreement upon courses of action, to satisfy various interests of all the parties. More about Negotiations n Negotiation is a field of Knowledge and endeavor that focuses on gaining the Favor of people from whom we want things. n Negotiation is the use of information and power to affect behavior within a WEB of TENSION. n Negotiation is a way to come together - a way to anticipate, neutralize and resolve Conflicts. n WIN - LOSE NEGOTIATIONS: Here you want all the Halwa for yourself. You try to dominate the other party, whether it be a colleague, competitor, your spouse or your child. What happens to the other party does not bother you. You mind is totally fixed on VICTORY. n LOSE - WIN NEGOTIATIONS: Here you try to gain what you want by losing. You act in the passive manner and the last thing you want is to Dominate. You just want to be Mr. Nice or Miss Nice. n LOSE - LOSE NEGOTIATIONS: You can not stand the thought of the other party winning - even if in the process you destroy everything for yourself as well. In your effort of making certain that the other party loses, you most often sabotage your own victory. When most of us think of negotiating, we assume one of two things will happen: either we'll win or we will lose. But the pros don't look at it that way. They know that a successful negotiation is one in which both sides feel like winners...at least to some degree. n WIN _ WIN NEGOTIATIONS

n This is about both parties walking away from the Negotiating table as Winners. They both have enough to show for their efforts. There is no anger or frustration or confusion when the negotiation is finished. n Here each party must be willing to give up a certain amount to achieve this result. n Win -Win Negotiations involves an appreciation of differences and acknowledgement of other viewpoints. The Six Stages of Negotiation Stage 1: You Understand the Other Person The first step in negotiating a Successful agreement is to make sure You understand him. Remember, Understanding occurs when the other person feels understood, not when you think you understand. Understanding him requires you to know what the five levels of communication are: What he literally sees, hears, touches, tastes, and/or smells the facts to be. What his thoughts are about the facts he sees. How he feels because of his thoughts about the facts. Why this is important to him, a deeper level of meaning. What his expectations and/or requests are, or what he wants. Stage 2: You Acknowledge Common Ground with the Other Person

Now they feel understood. What about you?!! You still have the urge to jump in and express your opinions. Your opinions may be exactly what the other person will most likely disagree with. The timing is not right for any disagreement -not yet. Before getting them to listen to you, you want to make sure you have identified all the common ground between the two of you, rather than being pitted against one against another in a struggle. he Other Person Stage 3: The Other Person Understands You This is an opportunity for you to Communicate your point of view to him using the five levels. Assist him in actively listening. Invite him to repeat back to you what he understood you to say, ideally without his opinions or judgments. Confirm that he understands you, or clarify using the five levels. Stage 4: The Other Person Acknowledges Common Ground with You Be curious about what the other person could sincerely and honestly agree with. Of anything you've said, what does he also consider valid and important? Ask him for confirmation of where he is in agreement! Stages Three and Four eliminate what the other person misunderstands, and it lays a foundation for increased cooperation, caring, and commitment to success and better communication. Stage 5: We Clarify Differences - Together You already know what you want but now you clearly understand what the other person wants. The difference between the two positions is put into perspective where negotiation can occur. Maybe what needs clarification is not where you want to go together, but how to get there. Stage 6: We negotiate supportive agreements we want to keep

The definition of a supportive agreement is an agreement that everyone wants to keep. Unfortunately people often assume such an agreement is not possible. They assume a win/lose outcome - and they are motivated to make certain they are not going to lose. The problem is that if anyone loses - everyone does. Whats your Negotiating Style? There is no "right" or "ideal" Style. - A jungle Fighter - A Dictator - A Silhouette - A big Daddy or Big Mamma - A Soother - A Win Win Negotiator Planning for the Successful Negotiation If the major disagreement needed to be resolved, preparing thoroughly for that is required, and worthwhile. Think through following points before you could start negotiating. Goals: What you want to get out from the negotiation? What do you expect from the other person? Trading: What you and the other person have which you can trade? What do you and the other person have so that the other wants it? What might you both be prepared to give away? Alternatives: If you do not reach the agreement with him/her, what alternatives you have? Are these things good or bad alternatives? How much it matters if you do not reach the agreement? Will the failure to reach the agreement cut out future opportunities? What alternatives may the other person have?

Crafting A Strategy for Your Negotiation A. Know what you want. Establish goal and what will satisfy you. B. Develop a plan. Develop a negotiating strategy. Where do you want to start and to finish. Be sure to give yourself maneuvering room. C. Know what the person you're negotiating with needs. Remember, all parties must feel that some, if not all, their interests are satisfied. Ask open ended Questions to get to these needs and to understand their position. D. Be an empathetic listener. This will allow you to understand other's motivations. E. Address the problem. Focus on finding solutions to shared problems. Don't attack the person. This is Not conducive to working with them. Be courteous And tactful. F. Make the person you are negotiating with your friend, especially if they have to persuade others to Help you. As a friend, they are better able to sell your Ideas and deal. G. Educate, don't intimidate. Help the person understand your position. Be prepared to explain, detail and justify to that person why they should accept your offer.

H. Be patient. If at first you don't succeed try again. Slow but steady movement creates momentum, which can lead to agreement. I. Consider what would occur if there is no agreement. The pluses and the minuses. Can you afford to walk away or do you have to do it now. J. Be flexible and creative. Always have a fall back position. Some alternative that satisfies you and the other party enough to make a deal the consultation, if the lease purchase doesn't work). Be competitive, you just might find you get what you need. B A T N A Best Alternative To a Negotiated Agreement to produce something better The better your BATNA the greater your power Tips to Focus on During the Research and Negotiation Be Persuasive It is very hard to force your boss to increase the compensation, and by trying to do so could potentially damage the working relationship you currently have. Think about a process as for trying to convince him which it might benefit an organization to pay more to you. Do aim high and be realistic Many researchers have found the strong correlation between the people's aspirations and results which they do achieve in the negotiation. At same time, you do want to suggest the ideas for which your boss realistically could say yes. Start with a right tone which you want To let your boss to know that you will listen and will try to understand the views. At same time, you do expect boss to do same for you so you could work together to address this issue. Avoid the ultimatums, threats and the other coercive behavior. Clarify the interests Your compensation must satisfy the range of needs, not just the salary. Make sure you do have thought about the other points of value for you as well -- like the profit sharing, stock options which vest immediately, the bonus, the greater work

responsibilities, the quicker promotion schedule, the increased vacation or the flexible hours. Anticipate the boss's interests Just like you, your boss do have needs and concerns. To make him to say yes, your ideas should have to address the things which are important for him. Create several of the options The joint brainstorming is a most effective way to find the ideas which satisfy everybody's interests. It do works best when you do separate it from the commitment -- first create the possible solutions, and later decide among them. Focus on the objective criteria It is very easy to make someone to do agree with your proposal if he looks how that proposal is firmly been grounded on the objective criteria, such as what similar firms pay people of like experience or what others in the company make. Think through the alternatives In case if you cannot persuade boss to say yes, you have to backup the plan. Part of the preparation is creating the specific action plan so that you know what will you do if you do have to walk away from a table. Do prepare thoughtfully to achieve your goals This is a only aspect for your negotiations which you can completely control on. To take the advantages of all the above advice, you should have to invest significant amount of time and energy. Review to learn Only way by which you can really improve the ability to negotiate is explicitly to learn from the experiences. After finishing the negotiations, you reflect on what you did which worked well and what you may want to do differently. Ultimately you will be successful in achieving the goal of the financial security and the happiness! How to Negotiate a Buyers Resistance? Common Types of Buyer Resistance Resistance related to Need of the product or service I do not need this product or service

I am quite happy with my existing bank

Resistance related to the Product or Service Your products are not well established Some of my friends were not happy with your banks products and services.

Resistance related to the Source Your bank is still very new It is a small bank It can a fly by night bank

Resistance related to Price - the most common form of resistance Your charges are too high My budget does not allow your prices.

Resistance related to Time I want time to think it over

Specific Methods of Negotiating Buyer resistance Direct Denial This is High Risk method in

negotiations and should be used with care. Indirect Denial It is to be used when prospects valid or accurate to a degree. FEEL FELT FOUND technique Dealing with Customers Resistance Questions

Ask him what he wants. Convert problem into

a question. Superior Benefit - Throw in the extras that you can offer - Quality Third Party Testimony - This provides positive way to solve certain types of buying problems. The positive experience of a neutral third party is always acceptable to customers. Strategies for Negotiating Buyer Resistance Anticipate Buyer Resistance Know the value of what you are offering Prepare for Negotiation Understand the Problem Find some point of Agreement Ask questions to arrive at a Relationship