A negotiation strategy is a plan of action that is designed to help negotiators reach an agreement by preparing for and controlling the negotiation process. It is based on a thorough evaluation of the parties' interests, goals, and bargaining power. The strategy should be tailored to the specific situation and the parties involved in the negotiation. It includes the preparation, the tactics to be used, the strategies to be employed, and the expected outcomes of the negotiation.
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
The Negotiation Strategy template is designed to assist negotiators in creating an effective strategy to help them reach an agreement or contract. This template is suitable for experienced and novice negotiators alike, as it provides a framework to help them define their focus areas, objectives, KPIs, and projects. With the help of this template, negotiators can develop an effective strategy that will help them achieve their goals.
Focus areas are the broad topics that the negotiation strategy will address. Examples of focus areas could include effective negotiation, effective communication, problem solving, and compromise. It is important to identify the focus areas of a negotiation strategy so that the objectives, KPIs, and projects are aligned to the overall goal of the strategy.
Objectives are the specific goals that the negotiator wants to achieve. These should be achievable, measurable, and time-bound. Examples of objectives could include reaching an agreement within a certain timeframe, reducing the cost of an agreement, or improving the relationship between the parties.
KPIs are measurable targets that the negotiator can use to assess their progress towards achieving the objective. Examples of KPIs could include reaching an agreement in a timely manner, reducing the cost of an agreement by a certain percentage, and increasing understanding between the parties. It is important to set realistic KPIs that are achievable.
Projects are the specific actions that need to be taken in order to achieve the KPIs. Examples of projects could include negotiating terms, negotiating price, enhancing dialogue, listening and acknowledging, and identifying issues. Projects should be actionable, measurable, and time-bound.
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