NEGOTIATION STRATEGY
Creating and having a company’s Negotiation Strategy is as important as sales, new product introduction or marketing strategies. The Negotiation Strategy enables company employees to use clear and pre-selected Negotiation tactics, unifies the understanding of all departments about the importance of negotiations, and creates a unified Company Negotiation culture.
In 2023 Mc Kinsey&Company conducted a study, the findings of which claim that 93% of FORTUNE 500 company managers are considering creating a new position: CNO – Chief Negotiation Officer. This is how the world’s best work, and what do you think about Negotiations? Having a Negotiation Strategy is one of the factors of a company’s competitiveness and success. You have a unique opportunity to act fast, become unique and take a leading role in the market.
- Creating a Negotiation Strategy in your company will take 3-5 months
- The 9-step SMARTnership™ Negotiation Strategy methodology is applied
- In order to achieve the result, it is necessary to involve the entire management team in the process
- During the Negotiation Strategy development process, a strategy presentation session will be conducted for a few of your selected Negotiating Partners
- A strategy will live if you implement it at all levels of the organization
A typical company’s approach to negotiations BEFORE THE NEGOTIATION STRATEGY:
- Negotiations are conducted usually according to self learned tactics and mainly to one dominant principle of negotiation
- Employees who have newly joined the company bring with them different negotiation models than they have learned before
- Negotiations are a matter for buyers and sellers, if the employee works in another department, s/he does not need the knowledge of Negotiation
- Negotiators are valued for their ability to operate in the Power Strategy
- Manipulation is a normal practice both when communicating with customers and within the company
Result AFTER creating a NEGOTIATION STRATEGY:
- Negotiators recognize and understand how different negotiation strategies work, apply various and effective negotiation tactics
- Unified view of the company’s departments into Negotiations and agreements, both internally and externally (customers, suppliers, etc.)
- Costs are saved, risks are reduced, profits are increased
- Negotiators know and apply the tactics chosen by the company, depending on the importance and needs of the client
- Inside and outside the company, it is ensured that the implementation of the negotiation culture chosen in the Negotiation Strategy is followed
- A culture of openness and trust between employees and departments dominates within the company
- When communicating with clients and partners, it is ensured that the implementation of the negotiation strategy chosen by the company is unanimously followed. It can be Power, Partnership building or SMARTnership™.