What is negotiation planning?
Negotiation planning refers to the process of preparing and strategizing for a negotiation. It involves gathering information, defining objectives, identifying potential challenges and opportunities, and developing a roadmap to guide the negotiation process. Effective negotiation planning can significantly enhance the chances of achieving favourable outcomes.
Key steps involved in negotiation planning include:
Setting clear objectives: Clearly define what you aim to achieve through the negotiation. Establish specific goals, both tangible (such as desired terms or outcomes) and intangible (such as preserving a relationship).
Conducting research: Gather relevant information about the subject matter, the other party’s interests, their negotiation style, and any relevant background or context. This information will help you make informed decisions during the negotiation.
Understanding interests and positions: Identify your own interests and underlying needs, as well as those of the other party. Distinguish between positions (the specific demands or proposals) and interests (the underlying motivations or concerns driving those positions).
Developing strategies and tactics: Based on the information gathered, determine the most effective approach for achieving your objectives. Consider different strategies and tactics that align with your goals and the negotiation context.
Anticipating scenarios and outcomes: Consider various potential scenarios and outcomes that may arise during the negotiation. Assess the risks, opportunities, and potential trade-offs associated with each scenario.
Assessing alternatives: Determine your Best Alternative to a Negotiated Agreement (BATNA) – the course of action you will pursue if a satisfactory agreement cannot be reached. Evaluate your BATNA in comparison to the potential negotiated outcomes.
Establishing negotiation boundaries: Define your negotiation boundaries, including the limits of what you are willing to offer or accept. This will help you stay focused and avoid making impulsive decisions during the negotiation.
By investing time and effort into negotiation planning, individuals can approach the negotiation process with confidence, adaptability, and a clear strategy. Effective planning provides a solid foundation for navigating complexities, making informed decisions, and increasing the likelihood of achieving successful outcomes.