General Awareness

April 04, 2017 @ 01:15 PM

April 04, 2017 @ 01:15 PM

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

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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.
 
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