Summary and Recommendations for Negotiation Success

Marc Helmold (), Tracy Dathe () and Florian Hummel

Chapter 12 in Successful Negotiations, 2022, pp 223-230 from Springer

Abstract: Summary Negotiations are a form of communication about a controversial issue, which are characterized by conflicting needs, interests and motives. In principle, negotiations aim to achieve a balance of interests by weighing one’s own motives against those of the other party in the negotiation and arriving at a negotiated outcome by making concessions (Obrien, Negotiations for Procurement Professionals. 2nd Edition. Kogan Page Croyden, 2016). In business, negotiations usually take place in the international trade of goods between a selling (supplier or vendor) and a buying (buyer or customer) company. Buyers have the desire and need to obtain the lowest purchase price in a transaction, whereas sellers seek the highest selling price. Thorough preparation is a prerequisite for a successful negotiation Sect. 12.4. In addition to the scope, minimum and maximum objectives (Least Desired Outcome, LDO; Most Desired Outcome, MdO) to be negotiated and achieved, the secret lies in thorough preparation and analysis of the negotiating opponents and their motives and interests.

Date: 2022
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DOI: 10.1007/978-3-658-35701-6_12

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