Communication Quality in Business Negotiations †MyAssignmenthelp.com

Question: Discuss about the Communication Quality in Business Negotiations. Answer: Introduction: With regard to the negotiation the sale of the property, my preferred thinking style would be hierarchical as can be observed from the inventory response above, personal assessment indicated that I have a average score of 8. Thus the hierarchical thinking style was most preferred as the sole negotiator since during negotiations it was important to engage the clients in different stages of thinking. The thinking style chosen fit the situation since it enabled the sales person to engage the client through a problem solving process that would ensure the property was sold at an additional 10%. This is also because the type of thinking style was vital in the current work environment and would allow the sales person to express their concerns and negotiate a good settlement for the purchase. In addition, it ensured that all the concerns of the purchaser were also tabled in and orderly manner(Cheng, et al., 2017). With the hierarchical thinking style, the sales persons is also able to take c ommand on how negotiations are going and the two purchaser only have one role to play which is to listen to the sales person and react to his sentiments. However, the final agreement is usually made on the basis of the sales person. The thinking level that has been employed as a negotiator was an internal one. This is because by doing so, I was able to ensure that my strategies as a negotiator are not laid out to the purchasers to read my intentions of increasing the price of the property by 10%. The internal thinking level enables one to have the high drive of producing results and being able to win. As an internal thinking level, ideas that come in the mind are the ones that are sold to the purchasers so that one can make a decision of owning the property while the other may stop the interest, depending on the negotiation level that the company is looking for. Internal levels are good as they convince a client of the guarantee that the company will treat them as their own. Here in the end good contracts will be produced and also there will be a scalable sales process(Peleckis, 2014). The relationship with the purchaser also increased since both are able to keep track and maintain the interpersonal relationship during negotiations. Other ways that one can use to improve the negotiation process is to ensure that most of the discussions made during the negotiations are initiated by myself. In this manner, I can be able to allow for the purchasers to express their feelings about what I put on the table on behalf of the company. this will also ensure that purchasers do not move away from the main issue and that they concentrate on the agenda I set(Schoop, et al., 2010). Clients BATNA and negotiation value The clients BATNA during the negotiation exercise looked at the finances in offer. In regard to the case in question, the reservation prices for the parties showed that the negotiations where more positive with regard to the bargaining zone(Cheng, et al., 2017). This means that there was still more room for the two parties to both agree during the negotiations. In this negotiation the purchaser wanted to get the property for at least $43 million, however my client was willing to sell the property at $47 million to $49 million. This shows that there was a positive room for the two side to reach an agreement. With regard to the sale of the commercial asset. It can be said that the company was still not in agreement with the proposed purchase price by the purchaser. And even though there seemed to be a positive bargaining zone when it come to the prices suggested by the two, there was still a negative bargaining zone. This proved a bit difficult to enable the clients reach an agreement in the negotiation exercise for selling the commercial asset. In this manner, if it continues, it would be better off that the company decides to hold on to the commercial asset until a good deal is reached(Schoop, et al., 2010). It will also be important that the company itself, works on an alternative price so that they can be able to meet the desires of the purchaser as well as theirs. This is due to the different interests that were expressed by the two parties. In this manner, there company expressed a negative bargaining zone, however, during negotiation, the Zopa Range stuck between $45 to $47 million. References Cheng, J., Huang, Y. Su, Y., 2017. Relationality in Business Negotiations: Evidence from China. Contemporary Management Research, 12(4), p. 497. Chen, G. Liu, Y., 2012. Gelotophobia and Thinking Styles in Sternberg's Theory. Psychological Reports, 110(1), pp. 25-34. Dygert, C. Parang, E., 2013. Honing Your Negotiation Skills. The Serials Librarian, 64(4), pp. 105-110. Peleckis, K., 2014. International Business Negotiations: Innovation, Negotiation Team, Preparation. Procedia - Social and Behavioral Sciences , Volume 110, pp. 64-73. Schoop, M., Khne, F. Ostertag, K., 2010. Communication Quality in Business Negotiations. Group Decision and Negotiation, 19(2), pp. 193-209.