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In this lesson, you will learn the factors in negotiation and common goals to consider.
Factors in successful negotiation
- Two parties have to be at the table and willing to negotiate.
- Some interests in common. For example, both parties might want to save time, save money or reduce stress.
- Decision-making ability. All sides involved in a negotiation must have the capacity to weigh choices and make decisions.
- Interdependence is reliance on the other party to achieve your own goals.
- Flexibility. Being flexible means relying on more than one option in a settlement.
- Communication. The parties exchange information to influence or inform the other side is also crucial in negotiations.
Transcript
It goes without saying that it takes two to negotiate.
That is, the parties involved have to be at the table and willing to negotiate.
It pays to have some interests in common.
For example, both parties might want to save time, save money or reduce stress. If there are no interests in common, one or both sides might not value negotiation in the same way.
Ultimately, the people taking part in the negotiation should be the people who are most affected by the outcome and thus can sign on the dotted line and move the litigation off the docket.
Interdependence is reliance on the other party to achieve your own goals. You want positive interdependence where one person having his goals met means the other person has a better chance of having his met.
Being flexible means relying on more than one option in settlement.
Communication in which the parties exchange information order to influence or inform the other side is also crucial in negotiations.
For instance, if one party knows of a pivotal case, witnesses, or facts that would give them a strong upper hand in litigation, they might communicate this to the other side to encourage them to settle.