The power of the question

Good preparation is the key to success in negotiation. It has been suggested that 80% of a negotiation's outcome is determined by the skills of the parties in preparing for it. During preparation, two key questions should be addressed: What are one's own objectives and what are the needs o...

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Bibliographic Details
Published inCA Magazine Vol. 134; no. 5; p. 39
Main Author Lindsay, Hugh
Format Trade Publication Article
LanguageEnglish
Published Toronto CANADIAN INSTITUTE OF CHARTERED ACCOUNTANTS 01.06.2001
Subjects
Agreements
Effectiveness
Guidelines
Negotiations
Objectives
Success
Verbal communication
Canada
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Summary:Good preparation is the key to success in negotiation. It has been suggested that 80% of a negotiation's outcome is determined by the skills of the parties in preparing for it. During preparation, two key questions should be addressed: What are one's own objectives and what are the needs of the other side? Negotiators are most successful when they operate in the context of understanding their own short- and long-term objectives, strategies and ethical standards. Knowing your long-term objectives allows you to be creative and flexible. As one goes into a negotiation, the short-term objective is to get a deal. One should have prepared by specifying the outcomes that are desired from the negotiation, and these outcomes are compatible with and contribute to one's long-term objectives.
ISSN:0317-6878