Negotiating In Business
Negotiation is a very important aspect of business. The video What is Negotiation talks about its importance in commerce and even some of the various situations that it is used in the day to day social activities. While some people may misunderstand negotiating to selling, they are different concepts, which at times they may be complementary to each other. I personally view negotiation as an essential part of business, as people have to share ideas and agree in business and social context. The aim of negotiating is to come up to a mutual agreement, in which both parties are satisfied with the conclusion met. Various organizations can be collaborative in the context of benefitting from the negotiation. People’s preferences may vary, meaning that not everybody uses negotiation even in instances where it could have been applicable. The video manages to fully uncover and explain each and every aspect of negotiation while showing its business and non-business part.
While negotiations may appear as something that is easy, it requires skills that will make it easier to skillfully settle on deals that suit both parties. One of the reasons why most people confuse negotiating with selling is due to the natural nature whereby negotiating is largely used. Negotiation is normally used to persuade and agree on terms that are favorable to both parties. A good example is the agreement to pay for a product in installments instead of the cash terms. For this example, the buyer will be able to afford the product, while the seller will eventually make a more amount from the higher purchase. This just shows how negotiation can significantly be helpful for business people and clients as well. Negotiation is often more useful in business when it is used for the purpose of goods and services that are of high value, as it makes the terms more friendly.
Just like any other concept, negotiation has its limitations. A good example from the video is that the instructor talks about the uncertainty of the process, as sometimes they may fail to be an agreement. When a disagreement occurs, it means that maybe each or one of the parties does not feel contented. She also talks about the need for one to have the skill to be able to know how to negotiate efficiently. This means that people who lack this knowledge may not be able to use it. It also means that people who may not be good at their speech may also find it a problem to negotiate and use it in a variety of options. It is also not highly applicable for products of a lower value, thus ineffective in certain categories. I would suggest that negotiation skills be made more easily accessible as it greatly helps in the business world, and even other social instances.
Works Cited
University of California, Irvine. “[Negotiation] What is Negotiation?” YouTube, youtu.be/_3MHmVJT7HM. Accessed 29 July 2020.