People in an organization often face the problem of managing different situations with a different approach. Do you face such kind of situation, where you need to choose the best bargaining strategy? If yes, then you will find lots of good information in this article. In this article, you will know about Lewicki and Hiam's Negotiation Matrix that help you in the process of selecting the best bargain strategy.
What is Negotiation?
Negotiation can be defined as the term that describes the process of bargaining. Negotiation skills allow you t move in and out of different situations with confidence. Negotiation is the process by which people rule out their differences and reach an agreement by avoiding arguments and debates.
Effective negotiation skills are very essential to manage day to day activities in any organization. Some people approach negotiating the same way by using an identical method each and every time they negotiate. However, one should remember that there are different ways of negotiation that are suitable for each situation.
How to Approach Negotiation?
Before you choose a negotiation strategy, you should look for ways to approach negotiation. There are 3 approaches of negotiation, namely – hard, soft and principled. According to the experts of the industry – principled approach is best suited of all the other approaches.