The act of negotiation. It occurs so frequently in the workplace and in so many guises, that it is easy to overlook the importance of being an effective negotiator. Negotiation is a critical managerial skill.
Senior managers spend almost all of their time interacting with others.
Most of this work is some form of negotiation. And as important as it is to negotiate agreements with great skill, managers also need to know when not to enter an agreement. Both artistic and scientific dimensions of effective negotiation can be learned. The importance of being able to negotiate effectively has increased in recent years, marked by an enormous increase in the volume of agreements needed to facilitate starting a new company or expanding an existing one. Often these partnerships are made with a broad variety of new partners in a range of new alliances.