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Negotiation Journal

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Journal of International Negotiation

Session 1

In the session, we learnt the basic concept of negotiation, knowing that:

Negotiation is a method by which people settle differences. It is a process by which compromise or agreement is reached while avoiding argument and dispute.

In any disagreement, individuals understandably aim to achieve the best possible outcome for their position. The principles of fairness, seeking mutual benefit and maintaining a relationship are the keys to a successful outcome.

We are also engaged in negotiations with people from all walks of life every day, including family members, bosses and colleagues amongst others, in order to acquire the maximum interests for ourselves.

Negotiation is an easy thing to do when it is only restricted to numbers, because it doesn’t require trust, language and relationship. Fingers alone can solve everything. Our task as a businessman, however, is to negotiate for terms and conditions on the side we stand, which is quite demanding in language precision, communication skills and so on.

From different types of negotiations and the history of negotiation methods, we realize that tactics used in ancient wars have been applied in current business battles. The outcome of negotiations does not only have a win/lose situation, but also have a win/win one when reaching a consensus.

Case practice:
In the “Weekend in Paris” case, I practiced as a buyer who is urgent to get the ticket to Paris. I came up with my first offering at 45, which is the original price stamped on the ticket. Then the seller responded a 125, the full price of the ticket.

I stood my ground and said to the seller that your ticket will be worth nothing if it’s expired, and by selling the ticket at 45 will not cause you any losses.

However, the seller insisted a 125, saying that you

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