Negotiation Process in Business: Key Steps, Individuals, and Strategies

Business
Guide

Table of Contents
Negotiation.................................................................................................................... 3
Key steps for negotiating and generating business deals...........................3
Key individuals in a negotiation...........................................................................4
Ways to gain best contracts and ways to generate new business and
win deals........................................................................................................................ 5
Tendering for contracts........................................................................................... 6
Preparation of negotiation through request for proposal (RFP) form..7
Responding to RFP- creating business proposal and the contractual
process and agreement
REFERENCES................................................................................................................... 8
Negotiation
Negotiation process regarding a business can be said to be a process in
which two were more business organisations have two agree upon the same
decision which might bring a conclusion or solution to the conflict which has
priced in all of these firms. There is often seen that there a prolonged a
disagreement in various businesses due to which both the businesses face a
number of losses and issues. The negotiation process is due to an unavoidable
problem of business operations or business activities in any business organisation.
These conflicts or problems may be influencing the negotiation to initiate
within a business so that the conflicts can be solved for the business organisations
(Han, 2020). The key factor for the need of negotiation maybe that both the
business is operating in same dimension. The negotiation process needs to solve
these conflicts between the two parties. Negotiation also takes place when the
parties involved think that coming to a negotiation point, we help both the parties
in earning more profits and running their business successfully. It is also seen that
many a times the dysfunctional conflict situation in a business need negotiation
processing business so that they can operate together instead of having conflicts
Key steps for negotiating and generating business deals
There are a number of skills regarding negotiation which are to be
developed in a business. A valid strategy is to be used in order to develop
negotiation skills. Major factors are not only coming to compromise but making
both the parties happy. It is often seen that people come to negotiation point by
using a zero-sum process. In this the parties find what are their needs and how can
the problem be solved so that both of them understand the situation appropriately.
When there is a failure to negotiation it is often due to both parties not being
satisfied from the solution or outcome.