UNIT-3 Negotiation Skills

                                                       

                                                                      Negotiation Skill 

What Is Negotiation?

 

Negotiation is a process by which two or more people (or groups) resolve an issue or arrive at a better outcome through compromise. Negotiation is a way to avoid arguing and come to an agreement with which both parties feel satisfied.

Negotiation can be used by a variety of groups in a variety of situations—for instance, between individuals at a market looking to get the best price on an item, between startups looking to merge organizations through business negotiations, or between governments who want to come to a peace agreement. In your daily life, you may find yourself at work in salary negotiations or sales negotiations. Negotiation strategies are also a great tool for conflict management and conflict resolution—even in your personal life.

 

The 2 Types of Negotiation

There are two possible types of negotiation, depending on the point of view and leadership styles of each negotiating party:

1.   Distributive negotiation: Also sometimes called “hard bargaining,” distributive negotiation is when both parties take an extreme position and one side’s win is believed to be the other side’s loss (a win-lose solution). This operates on a “fixed pie” principle, in which there is only a set amount of value in the negotiation, and one side will walk away with the better deal. Examples include haggling prices in real estate or at a car dealership.

2.   Integrative negotiation: Parties engaging in integrative negotiation don’t believe in a fixed pie, instead asserting that both sides can create value or mutual gains by offering trade-offs and reframing the problem so that everyone can walk away with a win-win solution.

The 5 Stages of the Negotiation Process

While there are many approaches to negotiation tactics, there are five common steps that most effective negotiations follow to achieve a successful outcome:

1.   Prepare: Negotiation preparation is easy to ignore, but it’s a vital first stage of the negotiating process. To prepare, research both sides of the discussion, identify any possible trade-offs, determine your most-desired and least-desired possible outcomes. Then, make a list of what concessions you’re willing to put on the bargaining table, understand who in your organization has the decision-making power, know the relationship that you want to build or maintain with the other party, and prepare your BATNA (“best alternative to a negotiated agreement”). Preparation can also include the definition of the ground rules: determining where, when, with whom, and under what time constraints the negotiations will take place.

2.   Exchange information: This is the part of the negotiation when both parties exchange their initial positions. Each side should be allowed to share their underlying interests and concerns uninterrupted, including what they aim to receive at the end of the negotiation and why they feel the way they do.

3.   Clarify: During the clarification step, both sides continue the discussion that they began when exchanging information by justifying and bolstering their claims. If one side disagrees with something the other side is saying, they should discuss that disagreement in calm terms to reach a point of understanding.

4.   Bargain and problem-solve: This step is the meat of the process of negotiation, during which both sides begin a give-and-take. After the initial first offer, each negotiating party should propose different counter-offers for the problem, all the while making and managing their concessions. During the bargaining process, keep your emotions in check; the best negotiators use strong verbal communication skills (active listening and calm feedback; in face-to-face negotiation, this also includes body language). The goal of this step is to emerge with a win-win outcome—a positive course of action.

5.   Conclude and implement: Once an acceptable solution has been agreed upon, both sides should thank each other for the discussion, no matter the outcome of the negotiation; successful negotiations are all about creating and maintaining good long-term relationships. Then they should outline the expectations of each party and ensure that the compromise will be implemented effectively. This step often includes a written contract and a follow-up to confirm the implementation is going smoothly.

 

Negotiating is a part of living; we do it all the time. 

When you walk down a crowded street you negotiate the path you take.

Over the years we noticed that some people are very good at getting terrific deals.

Most others simply get what the other party is willing to give.

What’s the difference?

The first group knows how to negotiate.

Where do people learn to negotiate successfully?    

There seems to be no school of negotiating.

Those who are successful at negotiation become so by doing many deals, in other words they learn from their experiences, but some just have a natural talent for it.

Over the years I have discovered a number of rules regarding negotiation.

If you understand these rules, this will help you become a Power Negotiator.

Rule No 1  – Everything is negotiable

This does not mean you are always going to get what you want or win every negotiation, but you must remember that everything is potentially up for negotiation.

Rule No 2 –  Know what you want before negotiating

Always know the result you want – your bottom line –  before commencing negotiations.

It’s a bit like when you’re planning your holiday.

Firstly decide your destination  –  where you want to end up, then work backwards to decide the best way to get there.

In negotiations and in life, if you don’t have a plan of your own, you’ll be part of someone else’s.

Rule No 3  –  Aim for a Win/Win negotiation

Win/win is created when we help another person to get what they want while we get what we want so that both parties feel they have won.

To achieve this: 

• 
  You can sometimes do this before the negotiations formally begin by observation and by asking questions and then listening carefully. Never  offend the other party
  The secret is to try and establish what is on their agenda and in what order, in other words what is most important for them.
• Try and build a rapport with the other party during the initial stages of the negotiations. This will help you satisfy their needs by understanding what they really want, as explained in the next point.
• When negotiating, try to look beyond the requests and demands of the other party and attempt to understand their real intentions and motives. Seek to meet this dominant, often hidden, need and you are well on the way to winning the negotiation.
• Don’t assume that the items on your agenda are the same as those on the other person’s agenda. There may be one or two similar items on your lists, but the order may be different.

Although you are trying to create a win/win, don’t seek total approval from the other party.

Don’t fear rejection or be afraid to be seen as unreasonable, otherwise you will give in to things you want and that’s not really a win/win.

Rule No. 4. – Treat Negotiating as a Game

When it comes to negotiations, you need to be involved but not too much.

If you are too emotionally involved, you will lose your perspective and make emotional rather than subjective decisions.

Like all games, you must understand the rules.

A skilled negotiator understands the structure and stages of negotiation.

If you play a game and don’t know the rules, how do you know when the game has begun, reached its mid point, or neared its conclusion?

Rule No 5 –  Never believe anyone else is entirely on your side

Trust yourself; you have your own interests entirely at heart.

As a buyer, would you go up to a seller, show your bank account, explain how desperate you are to buy the property, then ask the seller to tell you what you should offer?

If you are a seller, would you tell a potential buyer your absolute bottom line?

No sane person would do such things, yet every day buyers allow others to make decisions for them.

These others could be an accountant, a relative, a friend or even a real estate agent.

Yes, you certainly want to ask others advice, but my point is that while these people may not consciously deceive or purposely lead you astray; everybody’s interest is different, each has their own goals and yours are always going to be different and sometimes conflict with mine.

Rule No 6 – Strive to be innocent

To Power Negotiators, smart is dumb and dumb is smart.

When you are negotiating, you’re better off acting as if you know less than everybody else does, not more.

Have you ever noticed that as soon as people admit they really don’t understand something, a lot of people rush in to help them out?

Try saying something like “I don’t know … I’m new to this, you’re the experts, so you’re going to have to help me out understanding this.”

You will often find others smile, thinking they have this pigeon just where they want him, take him under their wing and help him out.

Of course that’s usually just when you have them where you want them.

They often reveal more than they care to about their own needs and what they are willing to concede.

Most of us are too eager to show off just what we know.

This can work against us.

We can often reveal too much too soon about what we are willing to give up to get the deal.

We must let go of our ego satisfying position of “know it all” and instead assume the profit making position of innocence.

In fact, his success was directly attributable to how smart he was-by acting dumb. 

His demeanor was so disarming that the murderers came close to wanting him to solve his cases because he appeared to be so helpless.

The reason for acting innocent is that it diffuses the competitive spirit of the other side.

How can you fight with someone who is asking you to help them negotiate with you?

How can you carry on any type of competitive banter with a person who says, “I don’t know, what do you think?”

Most people, when faced with this situation, feel sorry for the other person and go out of their way to help him or her.

Rule 7. Ask Questions

Power Negotiators are never afraid to ask the other party questions or for advice.

Asking questions tends to establish a climate of trust.

If you are not happy with the response you get try and ask another question such as, “Why do you say that?”Even if you know the answers.

This does two things; it buys you some thinking time and it forces the other party to better justify their stated position. 

Always ask why.

Most people are afraid to reveal their true motives.

Ask why and it may get this information out in the open.

Listen carefully.

If you listen carefully enough, you will discover everything the other party really wants out of the deal.

Most of us listen to how a person talks more than what he or she says.

Try to understand what is really being said.

To become a successful property investor you need to learn these skills of Power Negotiators, or at least get a professional negotiator on your side as part of your team.

Unit-2 Resume

Resumes and Cover Letters

RESUMES

and

COVER LETTERS

RESUMES AND COVER LETTERS

Create a Strong Resume

RESUME TIPS
						TOP 5 RESUME MISTAKES:
							1.	Spelling and grammar errors
RESUME LANGUAGE SHOULD BE:
							2.	Missing email and phone information
	• Specific rather than general						3.	Using passive language instead of “action” words
	• Active rather than passive						4.	Not well organized, concise, or easy to skim
	• Written to express not impress						5.	Too long
	• Articulate rather than “flowery”
	• Fact-based (quantify and qualify)						DO:
	• Written for people who scan quickly						• Be consistent in format and content
							•		Make it easy to read and follow, balancing white
	DON’T:
									space
	• Use personal pronouns (such as I)						•		Use consistent spacing, underlining, italics, bold,
	• Abbreviate								and capitalization for emphasis
	• Use a narrative style						•		List headings (such as Experience) in order of
	• Number or letter categories								importance
	• Use slang or colloquialisms						•		Within headings, list information in reverse chron-
	• Include a picture								ological order (most recent first)
	• Include age or sex						•		Avoid information gaps such as a missing summer
	• List references						• Be sure that your formatting translated properly if
	• Start each line with a date								converted to a .pdf

PLAN TO WORK INTERNATIONALLY?

Resume guidelines can vary from country to country.

Action Verbs for your Resume

Action Verbs for your Resume

LEADERSHIP
Accomplished	Achieved	Administered	Analyzed	Assigned	Attained	Chaired	Consolidated
Contracted	Coordinated	Delegated	Developed	Directed	Earned	Evaluated	Executed
Handled	Headed	Impacted	Improved	Increased	Led	Mastered	Orchestrated
Organized	Oversaw	Planned	Predicted	Prioritized	Produced	Proved	Recommended
Regulated	Reorganized	Reviewed	Scheduled	Spearheaded	Strengthened	Supervised	Surpassed
COMMUNICATION
Addressed	Arbitrated	Arranged	Authored	Collaborated	Convinced	Corresponded	Delivered
Developed	Directed	Documented	Drafted	Edited	Energized	Enlisted	Formulated
Influenced	Interpreted	Lectured	Liaised	Mediated	Moderated	Negotiated	Persuaded
Presented	Promoted	Publicized	Reconciled	Recruited	Reported	Rewrote	Spoke
Suggested	Synthesized	Translated	Verbalized	Wrote
RESEARCH
Clarified	Collected	Concluded	Conducted	Constructed	Critiqued	Derived	Determined
Diagnosed	Discovered	Evaluated	Examined	Extracted	Formed	Identified	Inspected
Interpreted	Interviewed	Investigated	Modeled	Organized	Resolved	Reviewed	Summarized
Surveyed	Systematized	Tested
TECHNICAL
Assembled	Built	Calculated	Computed	Designed	Devised	Engineered	Fabricated
Installed	Maintained	Operated	Optimized	Overhauled	Programmed	Remodeled	Repaired
Solved	Standardized	Streamlined	Upgraded
TEACHING
Adapted	Advised	Clarified	Coached	Communicated	Coordinated	Demystified	Developed
Enabled	Encouraged	Evaluated	Explained	Facilitated	Guided	Informed	Instructed
Persuaded	Set Goals	Stimulated	Studied	Taught	Trained
QUANTITATIVE
Administered	Allocated	Analyzed	Appraised	Audited	Balanced	Budgeted	Calculated
Computed	Developed	Forecasted	Managed	Marketed	Maximized	Minimized	Planned
Projected	Researched
CREATIVE
Acted	Composed	Conceived	Conceptualized	Created	Customized	Designed	Developed
Directed	Established	Fashioned	Founded	Illustrated	Initiated	Instituted	Integrated
Introduced	Invented	Originated	Performed	Planned	Published	Redesigned	Revised
Revitalized	Shaped	Visualized
HELPING
Assessed	Assisted	Clarified	Coached	Counseled	Demonstrated	Diagnosed	Educated
Enhanced	Expedited	Facilitated	Familiarized	Guided	Motivated	Participated	Proposed
Provided	Referred	Rehabilitated	Represented	Served	Supported
ORGANIZATIONAL
Approved	Accelerated	Added	Arranged	Broadened	Cataloged	Centralized	Changed
Classified	Collected	Compiled	Completed	Controlled	Defined	Dispatched	Executed
Expanded	Gained	Gathered	Generated	Implemented	Inspected	Launched	Monitored
Operated	Organized	Prepared	Processed	Purchased	Recorded	Reduced	Reinforced
Retrieved	Screened	Selected	Simplified	Sold	Specified	Steered	Structured
Systematized	Tabulated	Unified	Updated	Utilized	Validated	Verified

A resume is a medium for advertising yourself, its the first most means which you use to present yourself and try to claim that you are the best choice to your prospects employer. Through your resume you have to showcase your major assets like −

• Qualifications
• Experience
• Achievements
• Capabilities, and
• Qualities

You have to prepare your resume in such a way that it gives impression in first look that you are a perfect fit for the job you have applied. An employer hardly takes 10-15 seconds to make a decision about your interview call after looking at your resume. If your resume is well written then definitely you will be in the shortlisted candidates does not matter you have required potential or not but you will get a call otherwise your resume will become a part of either recycle bin or dustbin, again it does not matter if you are Einstein or Newton.

The first draft of your resume may not be so impressive because a resume is always an evolving document which improves over the period of time, so keep modifying and improving it after its first draft and keep its different versions with you.

Now without complicating the things, I will take you through step by step to create a great resume for you. I'm assuming you have Microsoft Word to write your resume, so now just follow the following steps −

Step 1: Address Section

This section will be on top of your resume giving a detail about your name, address, phone number and e-mail address. Keep this section left aligned and put a bold line below to the section to separate it from rest of the document as follows −

JOHN WILLIAMS
Kondapur, Hyderabad - INDIA
Contact No: +91 2295103049
Email Id: john.william@gmail.com

If you are currently working then you can specify your company name just below to your name as follows −

JOHN WILLIAMS
IT Tools India Pvt Ltd
Kondapur, Hyderabad - INDIA
Contact No: +91 2295103049
Email Id: john.william@gmail.com

Step 2: Summary Section

This section will start with a heading called Summary and followed by listing down your over-all experience, achievements, certifications and positive attributes etc. It is very similar to a movie trailer where editor keeps all great scenes from the movie and after watching that trailer you get excited to watch complete movie. You will have to choose attractive & heavy words while documenting this section.

To draft summary section you will have to think a while with peaceful mind, jot down great points about yourself on a plain paper and check to make them more impressive and effective. If they are not leaving any impact on the reader then there is no point in including those points in the summary section.

If you are a fresh graduate then you should specify about your small but impressive projects you have done at university, highlight your achievements and project capabilities etc.

Let's look at one example which lists down few points about a telecom System Software Engineer, in your case this list can go from 2-3 bulleted points to 8-10 points.

SUMMARY A Hotel mgmt graduated from GGSIP University and having overall 4 years of extensive experience in developing state-of-the-art Culinary. Result oriented, self driven, highly motivated, smart and hungry to learn new technologies, methodologies, strategies and processes.

Step 3: Education Detail

Because you already have given summary of your experience and achievements, so now let's start telling about our educational background. There are many organizations who give lot of preference to your educational background. So it is important to tell about your academic records. You should put your highest degree on top and then lower qualifications at lower levels.

This is extremely important to give information about your position, rank, percentage or CPI along with degree or certification otherwise many employers would throw your resume in dustbin if you don't give clear picture of your educational background. Now lets see one example on how to put educational records in a resume.

Education Detail Masters  in Hotel mgmt. (2005) from GGSIP University with 8.8 CPI. BHMCT (2002) from G.G.S.I.P.University New Delhi  with 87.20% marks 10+2 with Maths, Stats (1999) from CBSE with 67.20% marks High School (1997) from CBSE with 77.20% marks Secured first position in Bar competition during BHMCT Gold medalist at 10+2 level due to highest rank in mathematics.

If you have done various certifications and trainings then I would recommend to add a separate section for Trainings & Certifications just below to Educational Section.

Step 4: Technical Skills

Next section in your resume will present your Technical Skills. This section will start with telling your major skills on which you have good command. So list down all the skills first where you are fully confident and then keep rest of the skills at lower levels. Have a look at the following example where candidate has good command over Pro*C and C but less experienced in Perl so put Pro*C and C first and Perl later. This is important to note that all the lines given below are not required in all the cases. If you know only one skill then just tell about that skill, for example if you don't have any experience in any protocol then don't give that line in your resume

Technical Skills WSET Level-II The Beer Start Winner in Bar Talent.

Step 5: Projects Detail

Here comes real story and this is really important to show your all the projects, assignments etc. Reader should understand what exactly you have done in past. Here you will put hands on experience with different type of projects, people and tools and technologies. You have to be clear on what was your, organizations, year of the project, roles, responsibilities, value add, achievements etc. on each and every project or position. You should also mention about what were the tools and technologies you have used during that project.

If your experience is not project based then you can simply name this heading as Experience Detail and list down all the experiences either in bulleted form or in simple & short 2-3 paragraphs.

You will start with the most recent project and continue listing down all the projects till the oldest one. If you have done only training project or thesis project then you can mention those projects along with your University projects in the same format. Here I will give examples of two projects −

Projects Detail 1 - Feasibility Report of Opening of the Fine Dining restaurant in Delhi Duration: Mar 2005 - Jun 2005 Team Size: Single Handled Role Played: Report Writer

After giving a complete detail of all the projects, now you can tell about your major strengths. Look at the following examples, may be you don't have all the strengths so list down only whatever you posses −

Strengths Good oral, written & presentation skills A high tolerance of stress and enjoys responsibilities Quick learner with good grasping ability Action-oriented and result-focused Lead & work as a team in an organized way Great time management skill

Step 7: Extra Curricular

This section is optional because it is always not necessary that you would have been involved in some extra curricular activities same time for various roles its not required to have any extra curricular. Some time this section may have lot of weightage specially when your resume reader and you have same curriculum. I'm giving you a simple example to list down your curricular activities

Extra Curricular Have been a member of University Technical Council Won first prize for debate at inter state level competition Played Cricket at inter state level Mono acting, Singing and Reading Good hands on Bar Tendering

Step 8: Personal Detail

This will be the last but mandatory section of your resume but will provide all important information about you. A simple and easy example is given here −

Personal Detail Date of Birth: 5th Aug 1983 Sex & Status: Male & Single Nationality: INDIAN Languages Known: English, Hindi, Urdu Passport Number: A09384848 valid till 2018

Step 9: Conclusion

Now you are done and you have a great resume in your hand. Let me put all the sections together in a word document to prepare a final resume. You can download Sample Resume from here and you can modify this resume based on your experience, skill etc. In fact resume building is an evolutionary process and your resume will get better and better over the period of time.

I will recommend to go through the following tips to add lot of value into your resume.

• Keep your resume file name short, simple and informational. A good resume file name could be like JohnWilliams-Resume2013.docx
• You can keep a small passport size photo at the top-right corner of the resume but this is really not required.
• Don't use various unnecessary formatting in your resume. Keep simple text as much as possible in your resume. Have a look at sample resume. You will find many HRs who prefer resume only in simple text format. So if you will keep resume formating simple then it would be easy to format that resume in any format.
• Don't include too many phone numbers, email addresses or addresses.
• Don't prepare too big resume. It should be as precise as possible.
• Always give a summary of the resume at the beginning.
• Always give a detail of roles and responsibilities you have taken during any project.
• Make sure the resume is neat, free of typing errors, and on plain white paper.
• Never give a reason for leaving your previous job, your salary expectations, your current job challenges etc, and better to leave such points to be discussed at the time of interview if required.