What Makes a Successful Negotiator?

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Running head: WHAT MAKES A SUCCESSFUL NEGOTIATOR What Makes a Successful Negotiator? Jesse Langley Kaplan University AB209 Small Business Management Terra Bjorling August 2, 2011 What Makes a Successful Negotiator? Negotiation is a vital process when conducting a business and can have positive and negative consequences as a result of the way it is handled. The key focus is to create a win-win situation. This means that both parties have benefits from the transaction. In the case of Mrs. Smith and Mr. Jones there are numerous factors that need to be recognized for a successful negotiation. The actions made during the negotiation can make or break this new business (Longnecker, Petty, Palich, & Moore, 2010). Mrs. Smith has a lot to factor in when she decides to negotiate with Mr. Jones. Some of these factors can provide potential business opportunities if the situation can be handled correctly. Factors relating to market competition can be correlated as entering with online competitors and the prices of the same goods can be found cheaper. One financial factor would be that he feels he should get a discount for buying a five piece living room set. The two potential opportunity factors that can be noticed are that he is the Chamber of Commerce president and the fact that he desires to support the business because it is local. Each one of these factors can have a potential effect on the different areas that they focus on. There are times when sacrifices may have to be made when negotiating in the short-term to promote business development in the long-term. Mrs. Smith has various different options that she could possibly choose, each having a different outcome depending on the way each factor is acted upon. The first thing that should be done to create an interpersonal understanding between the two individuals should be to explain the current

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