Negotiation is an important aspect due to significant contribution to Essay

Negotiation is an important aspect due to significant contribution to the success of most businesses in the world - Essay Example Ascribing from this it can be argued that poor negotiation in a business entity results into negative implication to the overall business performance. ROLE OF NEGOTIATION IN BUSINESS The role of negotiation in a business is notable in a situation where a business needs to make decisions regarding its future operations and survival. Businesses need consultants with exceptional negotiation skills in making key major business decisions. Effective negotiation is required in regard to business decisions concerning critical business activities notably financial matters (Gosselin 2007). Businesses need to make informed and sound deals with its business associates, vendors and the business stakeholders. This facilitates the business to sustain afloat as well as its financial lucrative. Therefore it can be argued that the key role of negotiation in any business is to the business becomes successful. PART 1 NEGOTIATING STYLES The negotiation style adopted by any business may be used to reflect whether the desired results, deadlock or breakthrough is achieved or not. Therefore ascribing from this it can be asserted that businesses need to check on the compatibility of the negotiating style to suit its business needs and requirement. According to Gosselin (2007) in the context of management theory, he asserts that there is no best negotiating style as business needs vary and its dynamic nature. Therefore there is no single approach that can be exclusively adopted singly by a business (Gosselin 2007). In the context of business negotiations the preferred negotiating style should be able to increase the profitability of the business. There are five negotiating styles whereby each result into its specific conflict models (Eunson 2012). Depending on the vulnerability and the implication of each, business negotiators adopt the preferred style which results into a more benefit-like to the business. The negotiating styles entail the following. Compete (I win- You lose) This is on e of the common negotiating styles which focus on the full achievement of what is desired. The business negotiators are determined to solve the underlying conflict and emerge being the winners (Gosselin 2007). The negotiator ensures that there is gain in the short run. This is achieved mostly in compromising situations where all the means and tactics are used for a win to be achieved at any cost. The negotiators associated with this style are usually considered extreme and aggressive. When to use? This negotiating style is commonly used when businesses needs to achieve desired results quickly as soon as possible. This commonly arises when there is an extreme competition and a win is required at whatever cost (Ross 2010). This attributes the competitive nature and situation as a defense for the adoption of this style. For effective use of this style it is desire that negotiators have to be impartial to avoid deadlock. This negotiation style may be appropriate to use but the risk of a deadlock is also put into consideration. What's the danger? The dangers associate with this negotiating style is the overuse of competition by the competing negotiators. Both parties are prepared on how they will counter one another because of the ability to speculate on the tactics adopted by the other party. This high competitive negotiations adopting this style in most cases result into deadlock as no party would want to back down. Businesses therefore need to adopt a low compete profile