Wednesday, January 30, 2013

Conflict Negotiation Strategies

Negotiations are the key to reaching agreement in a conflict situation. Without the proper training, it can be very difficult to reach a satisfactory agreement with your counterpart in a tense negotiation setting. This is why many successful companies choose to utilize expert negotiation training seminars. Negotiation courses, tailored to your particular line of business as well as the specific types of negotiations you face in your typical business dealings, are invaluable both for gaining new skills and in helping you succeed in future deals.

Conflict arises because you and the other party in a business deal have differing opinions about what solution is the best outcome for a particular situation. It might be the wording of a contract, or the terms of a sale. No matter what the conflict might be, negotiating can be an effective means for both parties to come to an agreeable compromise.

One of the most important skills a negotiator will learn in training is formulating a clear objective of what to expect from the process of negotiating. This must be kept at the forefront for the other steps you will take in preparing for your conflict negotiation. Knowing what the objective is then allows you to consider modifications that could be made to your terms and still allow you to achieve your objective. This is invaluable in helping to provide solutions so that you and your negotiator counterpart can come to a reasonable solution. Knowing what your objective is also gives you a starting place to determine what the benchmark will be for the minimum terms acceptable for reaching an agreement on the issue.

Conflict Negotiation Strategies

Conflict negotiation training also provides the negotiator with a variety of strategies that can be used to bring the negotiations to a successful resolution. One excellent strategy is to be an effective listener. Truly hearing what the other parties in negotiations have to say will allow you to better understand what they seek as terms in the conflict. Knowing this, you can frame alternatives that you offer in such a way so that it appeals to them on as many levels as possible, and thus they will be more likely to agree to your terms. You can also gain clarity on your counterpart's positions by asking them questions. Their answers will provide useful information that can help you modify or change your positions' wording, showing them how it will be of benefit to them, while not backing down on your ultimate objectives.

You can also achieve a successful conflict negotiation by first beginning to reach an agreement on some small issues. Once you have some agreement, begin to build on this. By doing so, it may help you to achieve the ultimate resolution that you desire.

Conflict Negotiation Strategies
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A course in negotiation training by expert Jonathon Blocker helps to improve your business negotiation skills and provides insightful and expert knowledge of negotiations.

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Saturday, January 26, 2013

How to Handle Cultural Differences and Make a Good Job of the Follow-Up Work in Business Negotiation

The first importance you need to do is to create a good atmosphere. Chinese negotiators respect Americans' culture can create an equal and harmonious negotiating atmosphere.

For example, western people like to talk about specific articles directly while Chinese negotiators can adjust their own thinking to begin the negotiation with specific articles to adapt the other side's custom. This will make the guests think that their Chinese partners respect them and they will respect Chinese negotiators' negotiating behaviors which are different with theirs. Thus, the negotiating atmosphere will become friendly and harmonious.

Secondly, remember it is important to be a good listener. In view of this situation that western negotiators have the characteristic of making full preparation and being professional. Chinese negotiators can remain silence during the negotiation, listen more and gain more information through listening.

How to Handle Cultural Differences and Make a Good Job of the Follow-Up Work in Business Negotiation

Thirdly, do give definite words. Chinese negotiators should adopt direct and determined words and avoid equivocal words such as "maybe", "perhaps" etc.

International business negotiation involves with the management of the contract and the follow-up communicating. Different culture has different understanding with the content and effect of the contract. For example: American culture emphasize objective and attach importance on equality which determines that they rely on thorough contract to ensure rights and set obligations. So, the contracts between American companies are always as long as hundreds of pages, including very careful wording articles about all the aspects related to the contracts with the purpose of protect their own company from any dispute and unexpected accident. Other culture may not have such complicated contracts, so, they must endure Americans' this custom.

In international business activities, the differences of culture and national psychology always influence the decision of the management. Different cultural background makes different business style, for example, Americans are mainly interested in profit while Chinese are interested in the market shares. Besides, those who speak different language may have different thoughts. The stringent German, flexible Americans, calm French, the warm-hearted Spanish and the enigmatic Japanese and so on are all closely related to their language. So, in international business activities, people should not only know the rules of the business activities, but also the prevailing customs and culture characteristics of the other people.

How to Handle Cultural Differences and Make a Good Job of the Follow-Up Work in Business Negotiation
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Wednesday, January 23, 2013

What's the Difference Between a Negotiation, Arbitration, and Mediation?

Negotiation. Involves two or more parties who are engaged in direct discussions with each other in a concerted effort of reaching an agreement. Both parties use persuasion and influence to get the other party to see things their way.

Example:

 A buyer and a salesman are negotiating a price for a car.

What's the Difference Between a Negotiation, Arbitration, and Mediation?

 A wife is negotiating with her husband over use of finances.

 A president is negotiating with another country's leader to remove missile silos that threaten the security of the nation.

Arbitration. This is a form of resolving conflict that is handled outside of court where both parties come before a neutral third-party. The neutral third-party is usually a lawyer and the arbitrator listens to both sides and then passes judgment on a winner and a loser in much the same way as a judge does.

Example:

 Two employees are having issues with each other. They take these issues to the boss. The boss hears both sides and then decides to fire one of the employees.

 Two siblings are having a fight and the mother gets involved. The mother hears what they have to say, and of course both siblings are pointing fingers at the other side. The mother decides to ground them both.

Mediation. Similar to negotiation, but mediation involves the use of a neutral third-party who assists the negotiating parties in reaching an agreement. Mediation is used typically when direct negotiations have failed because the mediator can separate the people from the problem much easier than the stakeholders can.

Example

 A buyer purchases a used car from a seller. The car breaks down soon after. The buyer demands his money back. The seller accuses the buyer of damaging the car himself. Instead of dealing with the matter in court, which can be both costly and time-consuming for both parties, they instead agree to hire a mediator and work out their situation out of court.

 A couple decide to get a divorce, but argue over who gets what. Instead of waging legal war against each other, they decide to work out their agreement with a divorce mediator. The mediator uncovers what the needs and interests are for both the husband and wife as well as separating the emotions from the problems at hand.

 Two nations, on the verge of war after failed negotiations, agree to peace-talks. Neither side trusts the other side, so they ask for the help of a neutral representative to act as mediator for their talks. Through the mediator, both stake-holding countries are able to work out an agreement and avoid war.

© Copyright 2006 by Tristan Loo. All rights reserved.

What's the Difference Between a Negotiation, Arbitration, and Mediation?
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For over 10 years, Tristan Loo has inspired, motivated, and brought success to the lives of the people he’s touched. Successful in his own right, Tristan has competed athletically against Olympians as a world-class gymnast, saved lives as a police officer, authored numerous Personal Development and Interpersonal Communication books and articles, and is a highly sought-after Personal Development Coach. Tristan is the founder of the Synergy Institute, a San Diego based Personal Development Firm. His philosophy of passionate living and helping others fulfill their dreams has continually been the driving force that has placed him well above the industry standard. Visit Tristan's website at http://www.synergyinstituteonline.com or by email at info@synergyinstituteonline.com

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Monday, January 21, 2013

Sample Late Payment Explanation Letter

When you write a creditor to explain your late payments (mortgage, car, or credit card), the letter should state:

why you are late, (see paragraph 1 of the letter below) how serious you are about fulfilling your commitment to them (paragraph 2 of the letter below), and when you expect to be able to resume full and regular payments, (paragraph 3 of the letter below), what you want from them (paragraph 4 of the letter below) the financial details of your hardship (paragraph 5 of the letter below)

Below is a sample late payment explanation letter. Change it to describe your own circumstances, but make sure that you enclose copies of financial documents like: checking account statements, tax returns (past two years), all bills from creditors, all late notices, pink slip, anything else that will prove your hardship.

Sample Late Payment Explanation Letter

Cindy R. Williams

9 Turnbill Ct.

Anywhere, USA 55555

To: ABC Mortgage

Re: Late Payments; Account # 12345678

Daytime phone number: (555)555-5555

I am writing to inform you of my recent financial hardship. I was laid off from my job at XYZ Company just before Christmas of 2008. I am diligently seeking other employment, but as you know, jobs are scarce in today's economy. I have not found anything yet. Being out of work has caused me to be late on my bills.

I believe in hard work and have never been without a job for more than a few months. Until this unfortunate event, I have maintained a solid payment history with you.

My goal is to pay everything I owe. I take my financial obligations very seriously and plan to continue regular and full payments as soon as I find a job.

I expect my situation to be temporary and would like to discuss loan forbearance. I would also appreciate any suggestions you might have that would help me get back on track.

Please find the enclosed spreadsheet of my monthly expenses, as well as copies of financial documents, my pink slip from XYZ Co, and late notices I have received during my financial setback. I'm sending these to show that I am indeed experiencing financial hardship. This letter and all documents attached are true and accurate to the best of my knowledge.

Thank you for your time. I hope to hear from you soon.

Sincerely,

Signature/Date

Forbearance is an agreement by a creditor to reduce or delay payments for a specified period of time. Interest accrues during forbearance and will increase your loan amount. The good thing is that you will not have to pay late fees and penalties. There is no negative affect on your credit either.

Sample Late Payment Explanation Letter
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