Guidelines for conducting a competitive negotiation
The most important rule in conducting a complex negotiation is that you should have done the planning for it and you should feel confident about your plan. Advances in electronic communication such as video- conferencing may have reduced the frequency of face-to-face meetings, but for a complex and competitive negotiation, no other mode of communication has yet replaced the face-to-face meeting. Broadly, the face-to-face negotiation comprises four sequential phases.
- The opening phase consists of cordial greetings, introduction of participants, and review of the meeting agenda followed by fact-finding between the parties.
- The second phase is a recess for both parties to internally review and reassess their positions.
- The third phase is the crucial meeting between the parties to narrow the differences on all the agenda issues.
- The fourth is to seek an agreement and conclusion to the negotiation.
As you begin to interact with the other party on the issues specific to the negotiation, you must recognise that everything you do and every decision you make is part of the negotiation.