One very important parameter of negotiation is psychology. Whenever two sides negotiate, it is never two individuals, and never two organizations, but always two psychologies. The psychological mindset of an individual is extremely important in a negotiation.
One of the biggest confusing words, along with Negotiation, is Bargaining. Some authors have defined bargaining as being synonymous with negotiation. However, I always tell my GFMB class at SP Jain how bargaining is very different from negotiation.
As a negotiator, I am sure you would have always thought that the outcome of every deal should be in your favour. Well, there is nothing wrong to think that way, but there is a gap between expectation and reality.
In a business to consumer (B2C), negotiation is very different from marketing and selling. The primary difference is that Marketing is about making people aware of the product, services, or business, whereas Selling is to convince the other person to buy your product or service. Negotiation normally succeeds selling, because once a customer has agreed to buy the product or service, then issues about price, payment terms, delivery, quantity, and others will surface, which are negotiable.
Topics: Global Family Managed Business, Thought Leadership, Faculty Insights
I just watched the YouTube video “Humans Need Not Apply.” After the initial let-down (boy do I feel useless – and apparently I soon will be), I had to stop & think. If 45% of human jobs will be replaced by bots (physical and virtual), and if that will happen in our lifetime — much more quickly than farm work was mechanized and craftsmen were replaced by factories — what should each of us do?
Topics: Thought Leadership, Faculty Insights
What is critical thinking and how is it helping leaders make better decisions?
