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Strategy of "win-win" negotiation.
1. Both parties must take a positive attitude to arrive at a solution and listen to other party carefully.
2. Each party need to understand that without a settlement, each party will be will be in “Loss –loss”. Situation
3. To arrive at a “win-win” situation, both party must be flexible and give some concessions to other party
4. When agreement arrived, it should be written down carefully, and communicated to all concerned for record.
The aim of win-win negotiation is to find a solution that is acceptable to both parties, and leaves both parties feeling that they've won, in some way, after the event
For a negotiation to be 'win-win', both parties should feel positive about the negotiation once it's over. This helps people keep good working relationships afterwards. This governs the style of the negotiation – histrionics and displays of emotion are clearly inappropriate because they undermine the rational basis of the negotiation and because they bring a manipulative aspect to them
In other words, negotiators aim to work together towards finding a solution to their differences that results in both sides being satisfied
win-win strategy for negotiation is to ensure that your counterpart is satisfied with a particular deal requires you to manage several aspects of the negotiation process, including his outcome expectations, his perceptions of your outcome, the comparisons he makes with others, and his overall negotiation experience itself.
Example: Outcome Expectations
Prior to and during a negotiation, people develop expectations about the type of deal they will receive.
As a result of the process, two negotiators with the exact same outcome can feel very differently about their deal.
· For example, consider two car buyers who both purchased the same model car for $30,000. The buyer who expected to pay $29,000 will be dissatisfied with this deal, while the buyer who expected to pay $31,000 will be quite pleased.
Skilled negotiators manage expectations prior to and during a negotiation in order to create a true win-win negotiation.
One common negotiation mistake that sabotages a win-win situation is to escalate expectations by making a steep concession that could lead the other side to expect another.
Imagine that you’re bidding on a house that has been on the market for some time at a high list price of $390,000. You like the house but start with a lower offer: $300,000. In response, the seller offers you a slight reduction from the list price to $385,000. Hoping to bridge the gap, you make an offer close to your bottom line: $340,000.
The seller may misinterpret this move and believe that you can easily make another $40,000 jump. Rather than quickly agreeing to your offer, the seller might escalate her expectations regarding likely outcomes.
A related win-win mistake is to agree to your counterpart’s demands too quickly.
The negotiators whose initial offers were immediately accepted were less satisfied with their agreement than were negotiators whose offers were accepted after a delay – even if the former group reached better final outcomes than the latter group.
Those whose initial offers were immediately accepted were more likely to think about how they could have attained a better outcome than were negotiators whose offers were accepted after a delay.
As these results suggest, you can actually make your counterpart less satisfied by agreeing too quickly. In fact, a better win-win strategy may be to delay agreement and even ask for additional concessions, because you may be able to make your counterpart more satisfied with a deal.
The true meaning of a win-win negotiated settlement is where the agreement reached cannot be improved further by any discussions. So your outcome cannot be improved for your benefit, and similarly, the agreement for the other party cannot be improved further for their benefit either. By definition, there is no value left on the table and all creative options have been thoroughly explored and exploited.
Winning Strategies
Ask Smart Questions
When we enter a negotiation prepared, it is most likely that we'll only have an educated guess as to other parties' intentions, interests and priorities. It is a sad truth that in reality, many negotiators do not ask questions to gain a better understanding of the underlying ambitions that lie beneath the other party's position.
We need to determine whether our goals can be connected to the business goals of the other party. The more we know about their aims, the more we will be able to put together settlement packages that better address the business goals and priorities of both parties. When we know what's important to the other party, we can build a beneficial and productive agreement that:
Doesn't leave gold on the table
Utilizes more resources to the advantage of both parties
Will save you from stripping away value by making needless concessions
Play Fair
What do we tell them about our goals and interests? Reciprocation is essential. We have to tell them about our goals and interests so they may better understand how they might not only meet their needs, but ours as well. Best we begin at outset with setting the frame of a cooperative mood to increase mutual interaction. Only then should we progress into fact-finding and option generation. Our counterparts will usually mirror our behaviour, the virtuous and less than virtuous.
If we start by openly offering information, they will normally reciprocate in kind. Our initiating the volunteering of goals and interests does not necessarily put us at a strategic disadvantage. Provided we set the frame of reciprocation and gain agreement at the outset, and provided we don't put all our cards on the table (better to trade cards, one for one), reciprocation will prevail. Of course if the other side refuses to reciprocate at any point, and refuses to give a valid reason, this should be our red flag to stop.
Tip: It's a bad idea to reveal your BATNA at the outset.
Present Multiple Offers
The best win-win agreements often spring from presenting multiple offers rather than a single, lone offer or proposal. The reason is that a single offer or proposal often has an anchoring effect. Multiple offers tend to stimulate communication. Multiple offers will often prompt or nudge our counterpart into providing vital information about their objectives and the true nature of their business ambitions. Negotiating will be more energetic and productive because several options will likely enhance the possibility of finding even more creative solutions than would otherwise have been possible.
Third Party Assistance
Another innovative strategy to maximize your resources effectively is to use a neutral third party to help both parties tease out all goals and interests. In addition, you can ask this third party to suggest an agreement, or for ways in which to improve your existing agreement. Each side should of course have the option to veto the third party's proposals if they uncover better alternatives. A third party proposal can bring a number of benefits:
An experienced negotiation expert will often suggest options and proposals that neither party thought of.
Both parties can safely share more sensitive information. Since information is the building blocks required for creative alternatives, this in itself can open doors that were previously not seen. The resultant outcome is more win-win by leaving little to no gold on the table.
Trust is fostered under the experienced third independant party's direction. Often parties don't share suspicions openly with each other. This format of negotiation is conducive to sharing doubts.
Mistakes are mitigated against, with a third party looking out for both sides' interests. This prevents one sided gains and fosters a free thinking creative process, and of course reduces risks.
Thanks for the invite. I agree with the experts answers.
Win Win Negotiation as discussed is what both parties essentially want.
This involves looking for resolutions that allow both sides to gain.
In other words, negotiators aim to work together towards finding a solution to their differences that results in both sides being satisfied.
Key points when aiming for a Win-Win outcome include:
In a Buyer - Seller or Contract Negotiation, a Win-Win Strategy allows the Buyer or Contract Administrator to pass on a fair bit of profit to the Seller or the Contractor.
This will keep the Seller or Contractor motivated and reduce the risk of them recovering costs indirectly by cutting down on scope, or deviation in time, quality or other terms of contract.
It will also reduce the burden on the Buyer or Contract Administrator to monitor and control the procurement or contract from start to completion.
Thanks for invitation
Win win negotiations are when both parties get what they essentially want. It's important anywhere where you want to collaborate/ partner beyond the negotiation and continue to have some sort of relationship - not just for start-ups. It's principles are applicable to both personal and professional negotiations! To put it down as simply as possible you need an entry point for negotiations (list of all that you want) and exit point (the top 3-5 things that you will not give up even if that's a deal breaker). The "difference" between the two points is what is used to negotiate. They give away something not essential; you give away something as well. At worst both of you reach your "exit point" list before the deal is made. But both go away (shake hands) satisfied - therefore the term win-win. Both parties win. This kind of negotiation breaks down if your top "needs" is in conflict with the other party. So knowing what it is for both sides in advance of starting the negotiation is an advantage (that many don't give away willingly in advance) - much like knowing the cards in the other player’s hand when playing poker. One also needs well assess their "best alternative to a negotiated agreement" (BATNA) - what is the consequence of the negotiation process breaking down.
No offense but sir your questions are mostly definitions if u plz ask some creative kinda questions its very easy to answer definitions but its very difficult to answer more of a divergent kinda question u knw wht i mean these questions are not reflecting creativity its more like answering straight question in a paper.
Win-Win strategy asks us to look at what others would consider as his/her 'Win'. Once you know this, it is easier for you to get your 'Win' as an outcome of the contract. Well, this strategy can be adopted if both the parties have this approach. If one of them adopts 'Win-Lose' approach, chances are high that the outcome is 'Lose-Lose'. Pursuation, Persistence, Patience, Politeness are few essentials to ensure 'Win-Win' outcome
thank you
i agree with expert answers
