6/10/2025 BUSINESS NEGOTIATION PhD. Nguyen Thi Mai Anh School of Economics and Management - HUST 2025 COURSE OBJECTIVES Introduction to negotiation Understanding negotiation principles Know how to prepare for business negotiation Know how to conduct an effective business negotiation Acquire essential negotiation skills 1 6/10/2025 INTRODUCTIN OF NEGOTIATION Negotiation definition Characteristics of negotiation Forms of negotiation BẠN SẼ NHẬN ĐƯỢC NHỮNG GÌ BẠN THƯƠNG LƯỢNG ĐƯỢC, KHÔNG PHẢI NHỮNG GÌ BẠN XỨNG ĐÁNG ĐƯỢC NHẬN YOU DON’T GET WHAT YOU DESERVE, YOU GET WHAT YOU NEGOTIATE 2 6/10/2025 WHAT IS NEGOTIATION? WHAT IS NEGOTIATION? Negotiation is the process of resolving related issues between two or more parties to reach a mutual agreement or 3 6/10/2025 NEGOTIATION Negotiation is the basic means of getting what you want from others. It is a communication process designed to reach agreements where you and your partner have both shared and conflicting interests. In other words, negotiation is a way for people to agree and exchange differences. BUSINESS NEGOTIATION Business negotiation is the process of bargaining and persuading through communication and information exchange for the purpose of economic profit between parties involved in buying and selling, aiming to reach a written commitment in the form of a contract based on equality and voluntariness between the parties 4 6/10/2025 NEGOTIATION BENEFITS NEGOTIATION BENEFITS Not using violence to resolve issues in one's greatest favor Participating parties can improve the situation better if they do not negotiate Opportunity to make your demands Achieve cooperation and agreement Gain agreed-upon benefits Establish and improve relationships Negotiation provides an opportunity to agree and better meet your and your partner's aspirations 5 6/10/2025 BUSINESS NEGOTIATION Negotiation plays an important role in business Economic benefits are the basic goal Price is often the "center" of negotiation Good negotiation brings valuable contracts, develops relationships, utilizes resources well, and conntributes to the company's development THE IMPORTANCE OF NEGOTIATION All of us have experienced negotiations with partners such as friends, family, relatives, and colleagues... Negotiation takes place anywhere in life (markets, offices, schools, recruitment, shopping...) Negotiation is a skill that needs to be practiced for a lifetime 6 6/10/2025 CHARACTERISTICS OF NEGOTIATION It is a voluntary activity At least one party wants to change the current situation and believes it will succeed The purpose of negotiation is consensus Consensus between cooperation and conflict Satisfying each party's interests is limited The perfect outcome is an improvement in the current situation for all parties The process is influenced by the negotiators of the parties Always adjust needs to reach consensus CHARACTERISTICS OF NEGOTIATION Negotiation is a SCIENCE Negotiation is an ART 7 6/10/2025 NEGOTIATION IS A SCIENCE Analyze and solve problems (requires critical thinking) Study laws, rules, process information, and develop strategies Related to many sciences such as: psychology, communication, economics, accounting, marketing, human resources NEGOTIATION IS AN ART Skillfully apply principles, communication skills, listening, asking questions, answering... The content is the same, but different negotiators will bring different results 8 6/10/2025 NEGOTIATION STYLES COOPERATION: WIN-WIN Problem is very important – requires compromise The goal is to unify different viewpoints Desire to maintain or build relationships Together find and acknowledge each other's interests Does not mean that both sides achieve everything they want Both parties gain benefits considered fair and reasonable Long-term cooperation is the goal Most sustainable 9 6/10/2025 COMPETITION: WIN - LOSE View negotiation as a battle One side benefits – one side does not Potential risk of problems when implementing the agreement (one side is sad, disappointed, and will seek revenge) Act quickly and decisively Solve existential problems Know you are right Used in urgent cases ACCEPTANCE: LOSE - WIN Maintaining the relationship is more important than the benefits gained Recognize one's own mistakes Desire to be seen as reasonable Desire to build trust for future issues Harmony and stability are more important 10 6/10/2025 NÉ TRÁNH: LOSE - LOSE The issue is not important There are many other urgent issues that need to be resolved No opportunity to achieve other goals Need to remain calm to regain momentum Need time to gather information Not reaching an agreement does not mean failure, but rather both parties taking a step back to consider continued agreement or a graceful withdrawal. CONCESSION Important issues that cannot be resolved Relationships are important but cannot be reconciled Parties have equal power, both wanting to achieve unique goals Need to find an appropriate solution due to time pressure Need to reach a temporary solution to a complex problem 11 6/10/2025 GOALS OF NEGOTIATION Negotiation is not a battle. The goal of negotiation is not to destroy or bring the opponent to their demise. HENRY FORD Coming together is a beginning. Working together is progress. Keeping together is SUCCESS. 12 6/10/2025 TYPES OF NEGOTIATION Soft negotiation Hard negotiation Soft Negotiation Avoid conflict, easily concede Value relationships, disregard economic efficiency Same type of partner – advantageous "Hard" partner – disadvantageous Used when a good relationship already exists 13 6/10/2025 Hard Negotiation Rigid stance, defending one's position by all means Soft-style partner – good; same-style partner – disadvantageous Winning is only external; losing the relationship – failure Not optimal Conflict Resolution Strategy Matrix Conflict Resolution Strategies 14 6/10/2025 STRATEGIES TO CONFLICTS Cooperation: Find collaborative solutions that satisfy all parties. Competition: Pursue goals at all costs decisively and uncooperatively. Concession: Share benefits to reach an acceptable level. Accommodation: Satisfy the partner's requests. Avoidance: Be decisive and uncooperative, do not express desires, delay resolution. Competitive Negotiation Also called "Win-Lose" negotiation Both parties strive to defend their positions and attack the opponent's position. Negotiating parties only focus on direct conflicts without investigating the underlying reasons for those conflicts, what the true needs are. One person's gain is exactly another person's loss. If one side wins, the other loses. 15 6/10/2025 Competitive Negotiation The total share of benefits for both negotiating parties does not change throughout the negotiation process. Therefore, the parties must compete with each other to win. The result is a negative impact on the relationship between the parties. It is difficult to make a compromise based on different preferences. Negotiation is often limited, with no opportunity for creativity or expanding the scope of negotiation. Competitive Negotiation Conditions: Parties try to divide scarce or limited resources. Purpose: Do whatever is necessary to get the greatest possible outcome. Strategy: Maximize benefits by pushing the agreement point close to the opponent's minimum goal. Tactics: Urging, creating time pressure. Hard negotiation or power. Pressuring, suppressing attitude. 16 6/10/2025 Notes on Competitive Negotiation Tense, with hostile, distrustful attitudes – difficult, long-term negotiation. Even if an agreement is reached, it will lead to a bad situation. Tactics: Silence reduces the ability to disclose information. Communication is performed by a spokesperson. Provide a lot of information, making it difficult for the opponent to identify important information. Develop disruptive action plans. Form alliances with outsiders. Accepting “Lose” When Disadvantaged in terms of power balance Saving the situation for another greater purpose Misleading to cover up the intention of winning another Minimizing losses when losing 17 6/10/2025 Cooperative Negotiation Also known as WIN-WIN The parties cooperate to achieve the greatest benefits or find an optimal agreement by collaborating their interests with high consensus, focusing on the real needs (core interests) behind each position – meaning the interests of the parties, not the opposition of positions. There can be many terms and many issues to negotiate. The goal is for each party to create as many benefits as possible for themselves and for their partner. The compromise is to get what one side needs while not offending the other side. Cooperative - Competitive Feature Competitive Negotiation Result Win-Lose or Lose-Win Motivation Individual interests Interests Opposing Relationship Related issues Negotiability Solution Short-term Single Inflexible Not creative Cooperative Negotiation Win-Win Shared and individual interests Different but not opposing Long-term or short-term Many Flexible Creative 18 6/10/2025 Cooperative Negotiation (Cont.) Conditions: Both parties try to negotiate for mutual success. Purpose: Try to find a mutually beneficial solution. Strategy: Both parties are satisfied with the negotiation results and are willing to fulfill their commitments. Tactics: Discuss, understand each other, and propose alternative solutions. Principles of Negotiation Focus on the problem, not on the people Focus on interests, not on positions Have alternative options Only focus on what can be improved Encourage dissenting opinions Express emotions but do not abuse them Clearly define responsibilities for each part or the entire problem for specific individuals Listen before making judgments Express respect for others' opinions Resolve conflicts while focusing on building relationships 19 6/10/2025 Principles of Negotiation Conversation between people Negotiators are very different, diverse Behave based on exemplary and polite philosophy of life Listen, understand Appreciate the interlocutor Not just superficial etiquette Truly care about each other's demands Positive attitude Know exactly what you want Consistency within the organization, negotiation team Principles of Negotiation Build trust with all parties Sincere, objective Trust is more important than legality Control words and gestures Control the words and actions of the entire team Understand each other: communication techniques Ensure partners understand your intentions correctly Exchange products and values on a win-win principle 20 6/10/2025 Principles of Negotiation Negotiation is about finding cooperative solutions Partners are equal in negotiation Negotiation is fun Even if it fails, turn it into fun from another perspective Are you a good negotiator? Do you tend to avoid negotiating? When negotiating, do you often give in to your opponent? Are you comfortable arguing about issues? For you, negotiation is a competition where there are winners and losers. Are you happy when your opponent doesn't demand much from you? 21 6/10/2025 Good Negotiator Knows how to review potential Identifies the partner's hidden needs Knows how to attract partners Marketing skills, to analyze and research partners Knows how to buy and sell quickly, time is on their side Should be quick Negotiating for too long – should withdraw Knows how to buy low, sell high Visits partners to sell at a high price Knows how to create pressure – even fear in dialogue Sensitive documents (safety, fire, derailment, bankruptcy...) PREPARATION FOR NEGOTIATION 22 6/10/2025 Negotiation Preparation Business Negotiation Process Prepare for negotiation Before Set goals Develop negotiation strategy Start negotiation During Debate and exchange information Conclude negotiation Monitor and resolve arising issues After Evaluate, learn from experience NEGOTIATION PREPARATION Required knowledge Partners Problem Compet itors Market Scheduling a Meeting Time Location Language Preparing for meeting Contents Presentation tools Other supporting tools Participating members Practices Attire 23 6/10/2025 ABRAHAM LINCOL IF I HAD 9 HOURS TO CHOP DOWN A TREE, I'D SPEND THE FIRST 6 SHARPENING MY AXE Information about Partners Enterprise (business sector, leadership, main products, key customers, business results, financial capacity, human resources...) Partner's strength, class, and reputation The practicality and urgency of the negotiation. Partner's needs and intentions (short-term and long- term goals) Importance of factors to partner (time, profit, price...) 24 6/10/2025 Information about Partners Problems the partner is facing Key customers, key suppliers Expected negotiation strategy of the partner Predicting points the partner may use as negotiation power Partner's understanding of your company Verify information about partners through various channels. The more information, the greater the chance of success Information about the Negotiation Team Number of participating members Negotiation power of the opposing side (status, personality, negotiation experience of each person...). Relationships within the negotiation team, who holds the decisive role? Head of delegation Experts Spokesperson Support staff... 25 6/10/2025 Partner Assessment Goals the partner wants to achieve Underlying concerns behind the demands Exchange necessary information with partners Arguments and reasoning the partner may use Potential impacts on negotiation results Information about the Negotiation Issue The issues to be negotiated could be: Bid package Products, services, payment Resolving incidents related to customers, local authorities, laws... Related to safety .... Absolutely Do Not Be Subjective 26 6/10/2025 Information about Competitors General information about competitors (companies, products, business results...) Competitor offers (products, prices, after-sales services...) Strengths and weaknesses of competitors Competitors' plans Competitors' problems Market Information General information about the country, industry, industry cycle, specific characteristics Recent changes in demand, business environment Infrastructure, foreign trade policy Legal environment Banking and credit system Transportation conditions, freight rates Need more other social knowledge... To become a long-term, reliable, and useful friend to your partner – you need additional social knowledge 27 6/10/2025 Sources of Information Gathering Official company information sources Employees who participated in previous negotiations Partner's company website Acquaintances working at the partner's company Stock exchange (for listed companies) Partner's customers Articles, magazines, media Interviews with experts Competitor's website Act as a buyer to better understand competitor's offerings Remember INFORMATION IS POWER IN NEGOTIATION Jean - Hiltrop và Sheila Udall 28 6/10/2025 Appointment Setting Chú ý trình bày, diễn đạt câu văn Contact via phone - Most common tool Meeting objective Clearly identify the person to meet Agree on time and location Remember: the goal of a phone call is to set an appointment - absolutely do not try to negotiate over the phone Can contact through other forms: Email, letter, fax Pay attention to presentation and wording Points to Note When Calling What to Do DO DO NOT Prepare thoroughly about the content and purpose of the call.You should memorize and practice speaking before calling (for new employees) Call at sensitive times (lunch break, too late, too early) Always have paper and pen to record exchanged content with the partner Write information on scrap paper and then not know where to record it Choose a quiet place to call. This will ensure you hear clearly and fully the content exchanged with the partner Don't try to pressure. If the partner adamantly refuses, you should thank them and schedule for other occasions when the partner is available Be polite and enthusiastic. You should greet and introduce yourself clearly. Call the partner by name if possible Lack of courtesy, abrupt address, loud laughter Practice good listening skills Speak rambling and off-topic Set a very specific time and location, repeat the time and location at least once. Make vague appointments such as: tomorrow morning, at the factory Thank the partner. Only hang up after the partner hangs up Hang up before the partner or while the partner is still speaking 29 6/10/2025 Negotiation Location Location Prepare a quiet, comfortable location Check in advance to ensure arrival at the location on time In the host country; in the partner's country; in a third country Confirm the exact, specific location with the partner, avoid vague terms: at the company, at the factory... Research the location and route in advance Check the weather, bring necessary items, clothes Negotiation Time Time Enough time to prepare Confirm the exact time Avoid vague terms like tomorrow, next week... Which country's time zone? Repeat to ensure accurate time confirmation Should have a backup plan Expected negotiation time Need to arrive early to avoid jet lag 30 6/10/2025 Negotiation Language Language Native language Foreign language Translator, translator's experience Should prepare backup and cross-check Preparing for Contact Content Presentation tools Support tools Participating members Rehearsal Attire 31 6/10/2025 Preparing for Contact Content Contents: Very important – requires thorough preparation Focus on what the partner cares about (unique benefits for the partner) Should use charts and images List potential questions or objections from the partner – find ways to answer them thoroughly If using slides, pay attention to slide design (less text, combine images, sound...) Note the allowed time to design appropriate content Preparing for negotiation Presentation tools: Use audio-visual aids: computer, projector Don't rely too much on machinery (what if there's a power outage) Need to have materials for the partner Support Tools: Power of attorney for negotiation and signing Logistical and technical work Catalogs, Brochures, name cards, images Letters of introduction, certificates, reports Notebooks, pens, calculators Product samples, operating instructions Contract drafts 32 6/10/2025 Negotiating Team Members Carefully consider the members participating in the negotiation team Head of Delegation Understands the negotiation issue Organizes work and unites members Courageous, good at foreign languages Technical Expert Deep understanding of the field in charge Spokesperson Understands the issue Experienced in dealing with the press Support Staff Locally fluent Quick, good at foreign languages Organizing the Negotiation Team Choose a suitable negotiation team (members of the negotiation team not only need to meet certain quality requirements but also need to complement each other in various aspects). Typically, the negotiation team is organized into 3 functions: Negotiation function Analysis function Observation function. Select the team, divide tasks, strategy and tactics when, with whom 33 6/10/2025 Establishing Internal Regulations for the Negotiation Team Clear division of labor and responsibilities Clear internal discipline, including communication and discipline Confidentiality and internal protection regulations Reporting, requesting instructions, and directing mechanisms Focus on clarifying the relationship with the direct supervisor Communication channels ... Preparing for negotiation Practice: For new employees – need to write it down to memorize Experienced employees still need to practice Pay attention to speaking speed, speaking time Practice speaking loudly, not just thinking in your head Attire: Clean, polite Do not wear overly flamboyant clothing. Perfume not too strong 34 6/10/2025 Rehearse Arrange negotiation content logically. role-play, anticipate situations How to start, ask questions Anticipate partner's questions and practice answering Prepare information to answer Role play: Verifier of reasoning Questioner and answerer Tension diffuser... Consult experts, experienced people for appraisal. Prepare alternative options BATNA Practice negotiating Remember KHÔNG CHUẨN BỊ LÀ CHUẨN BỊ CHO THẤT BẠI FAILURE TO PREPARE IS PREPARING TO FAIL. 35 6/10/2025 SET NEGOTIATION GOALS SMART Set SMART Goals S – Specific Cụ thể M – Measurable Đo lường được A – Achievable Có khả năng đạt được R – Realistic Thực tế T – Time bound Thời gian Setting Goals - SMART Main goal – what to aim for Minimum goal Maximum goal What can be traded to achieve the goal Identify negotiation limits Final limit Best solution when no agreement is reached Best alternative solution for yourself and your partner 36 6/10/2025 IDENTIFY BATNA BATNA: Best alternative to negotiated agreement This is the most preferred action when no agreement is reached. Knowing your BATNA – knowing what you will do or what will happen if no agreement is reached in negotiation. It is necessary to clearly define BATNA if the agreement is not entirely as desired. Determine the partner's BATNA by seeking relevant information, putting yourself in the partner's position, consulting people who understand the partner, etc. IDENTIFY ZOPA ZOPA - Zone of possible agreement ZOPA - the area where an agreement can arise that is mutually agreeable to both parties. Meaning, at this "zone," there is a collection of agreements suitable for both parties. 37 6/10/2025 Negotiation Margin Negotiation Margin 38 6/10/2025 NEGOTIATION STRATEGY Which factors to use to persuade the partner Anticipate risks and disadvantages Consider how to react to the partner Anger/attack Partner refuses Unequal number of participants on both sides Exorbitant demands Time pressure Cornered by the partner... What to do if negotiation time runs out without an agreement REMEMBER KHÔNG CHUẨN BỊ LÀ CHUẨN BỊ CHO THẤT BẠI FAILURE TO PREPARE IS PREPARING TO FAIL 39 6/10/2025 CONDUCTING NEGOTIATION Starting negotiation Information exchange Making an offer Bargaining Concluding negotiation VẠN SỰ KHỞI ĐẦU NAN It's the first step that counts 40 6/10/2025 STARTING NEGOTIATION Greeting: A normal ritual in all meetings Pay attention to words and gestures Pay attention to cultural factors Find common ground Build a close, favorable atmosphere for negotiation Start with common topics for both parties: weather, music, family... Avoid sensitive topics Should not be too long Agree on negotiation schedule: Introduce the previously discussed negotiation agenda Information exchange – an opportunity to understand the partner NEGOTIATION Exchange information – opportunity to understand partners Ask questions to gather more information about the partner Share your true needs with the partner Listen and acknowledge the partner's desires Observe and listen for signals from the partner Making an offer Adjust the offer as appropriate based on collected information Clear offer Leave room for negotiation Bargaining Handle situations where bargaining reaches an impasse 41 6/10/2025 HOW TO USE QUESTIONS Use open-ended questions to gather information Closed questions are for gaining partner's consent Typically, open-ended questions are used at the beginning of negotiation As negotiation progresses, more closed questions are used Always stay focused on the goal ANSWERING QUESTIONS Prolong the time Do not answer immediately Ask again: "Sorry, I didn't hear clearly, please... repeat" Dodge the question when you don't want to answer the partner's question Ask the partner again Ask again for the partner to clarify their point of view first 42 6/10/2025 ANSWERING QUESTIONS Answer some, not all When the partner brings up many points Only answer some favorable points Answer something else when asked something else When you want to avoid Note: If unclear, ask again Find ways to extend time Slowly, no rush even if you have the answer MAKING AN OFFER Determine the right time Make an offer first – prepare carefully Make an offer later – not well prepared Too early – feeling pressured – could be disadvantageous Observe signals from the partner to make an offer Making an offer: Concise, clear, confident Leave room for negotiation 43 6/10/2025 MAKING AN OFFER - TACTICS Divide and Conquer: Break down large issues into smaller ones to resolve gradually Probe: Ask questions: "What if"... open the way when discussing issues Avoidance: When negotiations reach an impasse – revisit the stalled issue later Exchange Concessions: Only concede when there's no other way Don't concede too early MAKING AN OFFER - TACTICS New Options: Always come up with new options – better than old ones Suggest easy-to-agree points first 44 6/10/2025 RECEIVING AN OFFER Listen to the partner's offer Do not interrupt while they present Carefully consider the partner's offer before responding If necessary – you can temporarily pause negotiations NEGOTIATING Based on the partner's offer (partner's response to your offer) – define the negotiation zone This is the overlapping zone between the two parties There may be no negotiation zone There may be multiple negotiation zones corresponding to multiple negotiation areas 45 6/10/2025 GOLDEN RULES IN NEGOTIATION Do not concede easily – agree reluctantly Enhance and reduce Enhance the importance of your concessions Reduce the importance of the partner's concessions ENHANCE SKILL E – EXCEPTIONAL: This is a special concession (I usually never do this, but...) N – NEED: State to the partner that my concession has satisfied the partner's needs (If I agree to this, are you satisfied with...) H – HISTORY: Emphasize the benefits you have previously brought to the partner, if any (Do you remember how good this product was? I think I can...) A – AUTHORITY: Suggest that you might get into trouble with your boss for exceeding authority (I really don't know what my boss will say but...) N – NOURISHMENT: Agree to concede as a way to nurture a good relationship (I will because I want to build a long-term relationship with us) C – COST: Emphasize your cost (I can do... but it will take a lot of effort) E – EVIDENCE: Build the value that the partner is looking for (credibly exaggerated "I can do that, but it will take twice the time and effort") 46 6/10/2025 REDUCE SKILL R – REDUCE: Partially reduce the value of the partner's concession (You saved me a little time) E – EXPECTED: Know the partner's concession happens as expected (That's exactly what I expected) D – DENY: Deny value (That really doesn't help me) U – UNDERPLAY: Thank with words and tone (Thank you is not "thank you very much") C – CONTRIBUTE: Contribute back to the partner (Well, if that works, then let's do it that way) E – EMPATHY: Object but with empathy (I understand that you think it's helpful to me, but...) Dealing with Negotiation Impasses Try to break out of the impasse Summarize the partner's and your own requests Announce negotiation impasse Separate people from the problem Change negotiators Propose an alternative solution Temporarily suspend negotiations – propose further discussion later 47 6/10/2025 Dealing with Negotiation Impasses Withdraw and end negotiations Create space to calm down, think thoroughly, and decide whether to withdraw Withdrawal is not impulsive but a calm, cautious action Need to withdraw professionally as when negotiating Rewrite and send to the partner after discussing with them directly Your position; partner's position, reasons why the two sides could not reach an agreement Do not blame the partner, but only focus on realistic matters End by thanking the partner Do it cautiously and always open up opportunities for the future Concluding Negotiation Determine the time to signal the end of negotiations Quickly reach final agreements Summarize Revisit unresolved issues Resolution measures are: Concession (not unconditional) Splitting the difference Choosing this option or that option Package deal (combining individual agreements into a more attractive package) New offer 48 6/10/2025 Concluding Negotiation Write down the terms: When an agreement is reached, don't spoil it by not taking minutes and signing a contract Avoid future disputes and misunderstandings Don't boast: Don't boast about terms favorable to you or be willing to concede more. The other party will think they were disadvantaged – and demand back what they lost Concluding Negotiation How to record agreements reached: This is an important step, so it also needs preparation Take time to review what has happened Compare set goals with the agreement about to be reached Evaluate the difference from the initial goal End immediately once an agreement has been reached 49 6/10/2025 Concluding Negotiation Try to secure the right to draft the agreement Choose the drafter for the discussion Drafting needs to be: Accurate, proper, clear (do not use ambiguous language that can be interpreted in multiple ways) May include a "definition of terms in the minutes" section Should be done gradually during the negotiation process Consider publicizing the agreement Congratulate the opponent – the opponent thinks they won. Negotiation Failure – Reasons Failure due to subjectivity Not clearly understanding information, partners, and competitors Lack of comparison ability, no strategy Failure due to ego Lack of scientific evidence Internal disorganization Some people want success, but others want failure Illogical arguments Poor preparation Meticulous arrangement 50 6/10/2025 Negotiation Failure – Reasons Broken promises Negotiation pressure – panicking – making wild promises Secure company commitment regarding ability to fulfill promises Insufficient finances to fulfill commitments Need bank support when negotiating Insufficient personnel Mobilize key personnel immediately upon negotiation Lack of creativity Creativity helps solve many problems unexpectedly Ability to propose many solutions to gain consensus After Negotiation Monitor and resolve arising issues Evaluate, learn from experience 51 6/10/2025 Measuring Negotiation Success Performing better than your best alternative to a negotiated agreement (BATNA). Satisfying interests: Ours are very good Theirs, at least acceptable Others', to a moderate extent The achieved outcome is the best choice among many options you have considered. Measuring Negotiation Success Parties view the results and process as fair according to the established criteria. Commitments are well-planned, complete, and feasible. Communication is effective, parties understand each other and know what they have agreed upon. Helps build the working relationship and reputation you desire among the parties. 52 6/10/2025 Monitoring and Resolving Arising Issues Fulfill commitments to partners such as: providing additional information, drafting contracts... This needs to be done quickly and meticulously Update partner information and add it to the company's database After signing, it is necessary to monitor contract implementation and continue serving the partner. Maintaining a partner is much cheaper than attracting new partners. ACTION Thank you to show appreciation for the partner. Acknowledge the partner's efforts. Send a small gift to show concern. Greeting cards for special occasions (birthdays, Tet, etc.). Regular communication – this is the cheapest form of advertising and also the best way to take care of your partners 53 6/10/2025 EVALUATION AND LESSONS LEARNED How thorough was the preparation? Were the participating members suitable? Were the negotiation objectives achieved? Was the presentation effective? Were differences and the benefits of the offer clearly explained? Was sufficient evidence provided to persuade? Was active listening practiced? Were objections handled well? Which objections could be improved? Which objections were left unaddressed? How should they be handled? Was the conclusion timely? FOLLOW-UP The presence of negotiators is crucial before, during, and especially after negotiations. Post-negotiation care opens doors for future collaboration opportunities. Track the progress of promised deliverables (quality, quantity, timeline, etc.). Stay updated on the partner’s operational activities. Schedule regular follow-ups with the partner. Note when negotiating with different cultures. Experience in negotiating with international partners. 54 6/10/2025 55
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