General Awareness

April 04, 2017 @ 01:15 PM

April 04, 2017 @ 01:15 PM

K. J. Somaiya Institute of Management Studies and Research, Mumbai

9 Easy Steps to register for SIMSR (Infographic)

Download Now

Negotiation Skills are in demand for holistic development

MBA aspirants must be updated with General Awareness on current topics. General awareness topics with analytically drawn conclusions will benefit you in Essay writing   / GD & PI. Today, you will read General Awareness Topic: 

Negotiation Skills are in demand for holistic development

All of us, at one point in our lives or another, have carried out negotiations, without even being aware of it. At an informal level, we negotiate on a regular basis with people around us to reach an understanding that benefits all the parties.
In the workplace, we negotiate at the formal level to resolve disputes and to gain an advantage in the outcome of a dialogue. Negotiation takes places from the time of a job interview till one resigns from the firm. 
During a job interview, one negotiates on the salary, and ultimately, both the employer and the potential employee come to a mid-point which is favorable to both the parties. Since negotiation is part and parcel of our lives, organizations have come up with courses to develop negotiation skills of individuals.
While negotiating, it is important to understand the other person’s point of view. Only then can a negotiation culminate successfully into an agreement. When negotiating, it is important to clarify the interests of the other party and focus the attention on areas of agreement, instead of harping on problem areas. Also, both the parties should formulate options that are mutually beneficial. One should not believe that only his/her solution is the best. To negotiate successfully, one should have an open mind. 
Fear, secrecy, ultimatums and anger are some of the barriers to successful negotiation. When there is a discussion between two parties with contrasting view points, there is a tendency for the conversation to become emotional in nature. Instead of falling prey to emotions, one should be level-headed and cool. 
Recently, the World Trade Organization (WTO) requested trainers in New Delhi to provide training on negotiation skills to emerging economies. This goes to show that the international body has confidence and faith in the training abilities of experts in this field. 
Negotiation skills are particularly important for those in the following fields: Sales, Marketing, Customer Relations and Public Relations. At Wipro, the management team understands that soft skills training are necessary for the overall development of an employee. Before an employee gets promoted to the managerial level, he/she is required to undergo training on negotiations skills, where he/she is taught to negotiate successfully with clients, media personnel and other stakeholders.
Traits that are required for successful negotiation like patience and levelheadedness are developed during the training. By developing their negotiation skills, employees understand the personalities of stakeholders, making it easier to communicate their ideas across in the future too. 
According to a study conducted by Harvard Business School, five skills are essential for effective negotiation: Assertiveness, Flexibility, Social Skills, Empathy and Ethics. In Procter and Gamble (P&G), employees, especially sales personnel, are required to negotiate effectively and at the same time, abide by the principles and core values of the organization.
Ethics is an important element of negotiation; many a times, employees cross ethical boundaries to clinch a deal for their professional growth. This is considered taboo not only in P&G but in many companies in India and beyond. 
Negotiation, within the boundary of ethics, is a difficult task, but it is also an art that takes time to develop. Companies, including multi-national corporations and small and medium sized enterprises are coming up with cross-cultural negotiation programs that allow employees to communicate effectively with people of different races, religions and cultures.
People used to have an incorrect notion that negotiation skills are only essential for people in the sales and marketing divisions. This is not at all true. In every step of our lives, we use communication skills to negotiate, resolve conflicts and get our point across. Negotiation is an essential part of communication, which indirectly shapes our personal and professional lives.
Read General Awareness Topics, Stay informed and inspired at MBA Rendezvous

Crucial Dates, You Should not Miss

Manav Rachna International Institute
of Research

Admissions Open for all MBA programme at Manav Rachna International Institute of
Research and Studies.
CII School of Logistics Amity University, Delhi and Mumbai
Admissions Open at CII School of Logistics Delhi and Mumbai campus, Apply Now!
GITAM School of International Business, Visakhapatnam
Admissions open for MBA programmes at GITAM. Application Deadline is February 20, 2018
Application Last Date for Online Submission - February 25, 2018
TAPMI, Manipal
Last date extended to 11 February, 2018. Apply Now.
BIMTECH, Greater Noida
Admissions open at BIMTECH, Greater Noida
ICFAI Business School
Admissions Open at ICFAI Business School Apply Now!
FORE School of Management
Apply for PGDM & PGDM-IB Programmes. Application Deadline is January 18, 2018.
MDI Murshidabad
Applications for PGPM 2018-20 at MDI Murshidabad are open
Last Date to Apply for MBA (Full Time) Programme at NIRMA is January 29, 2018
Institute of Public Enterprise, Hyderabad
Last Date to Apply for IPE, Hyderabad is 21st January, 2018
IMI New Delhi
Admissions Reopened for PGDM Last Date to Apply January 21, 2018
Application closes on February 12, 2018 for Executive PGDM at IMI
K J Somaiya Institute of Management Studies & Research, Mumbai
Last date for Application is 31st Jan, 2018
Application for PGDM 2018-20 at SDMIMD is open till February 28, 2018

Admission Open Now

Following Colleges are accepting applications.


Admissions open for 2018-20

PGDM, PGDM (HRM), PGDM(B & FS), Executive PGDM

Apply Online