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Can A Negotiation Checklist Improve Your Results?

17/07/2013 11:59

 As we teach in our online course "Powerful Negotiation For Successful Buying," preparing for a negotiation is critical for success. Though not intended as a substitute for learning how to prepare or actually preparing, this checklist can guide your preparation for great results.

A 21-Point Negotiation Checklist 
By Charles Dominick, SPSM 
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Can A Negotiation Checklist Improve Your Results? 
As we teach in our online course "Powerful Negotiation For Successful Buying," preparing for a negotiation is critical for success. Though not intended as a substitute for learning how to prepare or actually preparing, this checklist can guide your preparation for great results. 

* Identify the primary supplier to negotiate with. 

* Identify your second-best option in case you cannot reach agreement with your primary supplier. 

* Determine the format (i.e., face-to-face, phone, etc.) and location of your negotiation sessions. 

* Invite the primary supplier to negotiate and learn who the supplier's principal negotiator is. 

* Ensure/insist that the supplier assigns a negotiator with decision-making authority. 

* Assess your leverage over the supplier. 

* Determine your overall negotiation strategy (e.g., hardball, collaborative, etc.). 

* Identify all the terms that you will negotiate. 

* Set targets and least acceptable alternatives for each term. 

* Determine your negotiation tactics (e.g., threatening to use another supplier, emphasizing the benefits to the supplier of doing business with you, etc.). 

* Decide what to concede if necessary to reach agreement. 

* Develop a timeline for the negotiation process. 

* Identify the risks to achieving your terms, timeline, and other goals and plan to mitigate those risks. 

* Develop and share internally a communications plan stating who must be updated on negotiation progress and what information they must keep confidential. 

* Review notes from previous negotiations, courses, etc. for 
tips for success. 

* Anticipate your supplier's reaction to each tactic. 

* Create an agenda for the negotiation and practice. 

* Start the negotiation confidently. 

* Document agreements made and share with the supplier throughout the negotiation process to ensure that no misunderstandings later derail a negotiation in which you have invested much time. 

* Self-assess after each negotiation session and adjust strategy and tactics if necessary. 

* At the end of the negotiation, help the supplier feel positive about the new relationship rather than feeling like it lost the negotiation.

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