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It describes the Negotiation Skills. How can CA fixes his remuneration with his clients, etc

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  1. 1. The Art of negotiation K.Amruth Kumar Chief Consultant
  2. 2. What is Negotiation? <ul><li>‘ A process for </li></ul><ul><li>RESOLVING CONFLICT between two or more parties, whereby both or all modify their demands to achieve a mutually acceptable situation.’ </li></ul><ul><li>Gavin Kennedy </li></ul><ul><li>The perfect negotiation </li></ul>
  3. 3. What is the objective of any Negotiation? <ul><li>Objective :To achieve a mutually acceptable situation </li></ul><ul><li>How : Resolving conflict, not create conflict!! </li></ul><ul><li>Mindset : both or all modify their demands </li></ul>
  4. 4. Negotiation - Quotes <ul><li>‘ I’ll make him an offer he cant refuse’ </li></ul><ul><li>Don Corleone- The Godfather </li></ul><ul><li>‘ Let us never negotiate out of fear , but let us never fear to negotiate’ John F Kennedy </li></ul><ul><li>‘ It’s better to give away the wool than the sheep’ </li></ul><ul><li>Proverb </li></ul>
  5. 5. Negotiation - Quotes <ul><li>‘ If I listen I have the advantage. If I speak, others have it.’ Confucian proverb </li></ul><ul><li>‘ Seek first to understand , then to be understood.’ </li></ul><ul><li>Stephen Covey- </li></ul><ul><li>7 habits of highly effective people </li></ul>
  6. 6. Things that affect negotiation <ul><li>Your communication – non verbal & verbal </li></ul><ul><li>Your influencing styles. </li></ul><ul><li>Your planning & preparation. </li></ul>
  7. 7. Communication – the meaning <ul><li>In a negotiation situation: </li></ul><ul><li>The greatest impact is in the unspoken word – the visual signals </li></ul><ul><li>The next is the intonation- how you sound </li></ul><ul><li>The least is in the choice of words </li></ul><ul><li>‘ THE MANNER MATTERS MORE THAN THE MATTER.’ </li></ul>
  8. 8. Influencing Styles <ul><li>Studies show that successful influencers use two clusters of language styles during negotiation. </li></ul><ul><li>The PUSH style & the PULL style. </li></ul><ul><li>On the questionnaire you just did, </li></ul><ul><li>The even number represents the PUSH style </li></ul><ul><li>The odd number represents the PULL style. </li></ul>
  9. 9. Influencing Styles HIGH Seeking information from others Testing understanding Building on other’s ideas. LOW LOW Giving new ideas or action Giving information to the other person Shutting out the other person HIGH PULL STYLE PUSH STYLE
  10. 10. Influencing Styles <ul><li>If your score is more towards the positive end of the scale, it means that you are most likely to use that style of influencing in your negotiation. </li></ul><ul><li>Negative scores on any scale mean that you are less likely to use that style of influencing. </li></ul>
  11. 11. Influencing Styles <ul><li>If your score is around zero in any scale, this indicates an inconsistency in that style. </li></ul><ul><li>If you have one high positive score & one very negative score, that means you are very comfortable in one ( positive score) style & not so in the other. </li></ul><ul><li>The learning objective is to increase your effectiveness in both styles as different situations will demand different styles. </li></ul>
  12. 12. Influencing Styles <ul><li>Suitability & characteristics of each style are very different & can be summarized as below </li></ul><ul><li>Low risk </li></ul><ul><li>Gets high commitment </li></ul><ul><li>Is win /win </li></ul><ul><li>Self enforcing </li></ul><ul><li>Most effective long term </li></ul><ul><li>High risk </li></ul><ul><li>Gets low commitment </li></ul><ul><li>Is Win/Lose </li></ul><ul><li>Needs enforcement </li></ul><ul><li>Most effective short term </li></ul>PULL STYLE PUSH STYLE
  13. 13. Planning & preparing for negotiation <ul><li>Remember that negotiation is a PROCESS , not an EVENT. </li></ul><ul><li>Negotiations don’t start when you sit at the table, they start much in advance. </li></ul><ul><li>INFORMATION is power in negotiation. The right information at the right time. Collect information well in advance. </li></ul>
  14. 14. Planning & preparing for negotiation <ul><li>TIMING is important. The person with a time pressure will lose out in a negotiation. </li></ul><ul><li>Be alert & aware of any win-lose tactics used by the other party. </li></ul>
  15. 15. Win- Lose style <ul><li>Some win – lose tactics to watch out for: </li></ul><ul><li>Making unreasonable demands </li></ul><ul><li>Absent authority </li></ul><ul><li>Emotional outbursts. </li></ul><ul><li>Logic </li></ul><ul><li>Asking for concessions before a commitment. </li></ul>
  16. 16. Principles For Successful Negotiation <ul><li>R.Fisher & W.Ury in their Classic book ,’ Getting to Yes - negotiating an agreement without giving in’ have outlined three principles which can help you get successful outcomes in negotiation </li></ul><ul><li>they are: </li></ul><ul><li>Separate The People From The Negotiation Issue </li></ul><ul><li>Focus on interests not positions </li></ul><ul><li>Invent options for mutual gain </li></ul>
  17. 17. GETTING FROM ‘NO’ TO ‘YES’ <ul><li>THE CONSTRUCTIVE ROUTE TO AGREEMENT </li></ul><ul><li>Listen Actively </li></ul><ul><li>Win yourself a hearing </li></ul><ul><li>Work to a joint solution </li></ul>
  18. 18. THE FINAL WORDS <ul><li>‘ Successful negotiation lies in finding out what the other side really wants & showing them a way to get it while you get what you want.’ </li></ul><ul><li>THANK YOU ! </li></ul>