MIM students had just completed their International Business Negotiation class with Professor Melanie Billings-Yun. Negotiation is a fundamental skill that can be used every day from home to the boardroom. Knowing how to negotiate well is the key to the future in business relationships and others.
- Goals – What do I/they want to achieve or avoid?
- Routes – How can I best reach my goals by working with other side?
- Arguments – What legitimate reasons support my chosen route?
- Substitutes – Where else can I go to achieve my goals?
- Persuasion – Why would they take this route?
By planning the negotiation following these five steps is very helpful before going in the negotiation because it help analysis and stay focus on the goals we are trying to achieve. Thus, the most important from this class is Walk Away Line (WAL). We need to know what is our walk away line so we know when to turn down the negotiation.
I have used this GRASP method in negotiating in my real life. Everything turned out surprisingly and easier than what I have expected. The GRASP method and planning has helped me stay focus on the topic and listed all the possible reasons to convince the other side in what I was trying to achieve. By learning the negotiation class from the real expert, Melanie who has been in this business for more than 20 years is really helpful. She also gave an insight on how some businessman cannot negotiate because they do not trying to understand what the other side of table. Negotiation is an important skill in business because it helped you achieve the mutual goals and yet profitable from the relationships.