manipulative tactics
I feel most competent at bargaining when I use manipulative tactics. Nonetheless, the strategy is not the best yet very efficient. The other party might not be aware of some facts that may remain hidden during the negotiation to avoid tipping them off in making undesired decisions. For Example, the business may be in turmoil due to conflict amongst the stakeholders. Nonetheless, in saving the business from failure, there is a need to increase the demand for shares. Increased share demand will increase the business’s value, hence making it easier to merge with other businesses or sell to other businesses at a higher price. Therefore, the business might portray unity for the sake of this strategy. Therefore, the market may be unaware of the internal rift that may affect business and buy the shares. Besides, if the market is made aware of the business’s internal conflicts, it would affect their choice in buying shares. The business would eventually fail, leading to losses. Hence, the tactic is very instrumental when dealing with a volatile market.
Nonetheless, the omission of such critical information may result in legal implications if the market becomes aware of this information. The businesses that may have bought the business or signed a merger agreement may use the legal processes and sue the business. Apart from the risk involved, some businesses feel competent when using the method to disguise others. I have also become interested in getting a better understanding that can be used in preventing the set traps by other businesses in the future. Hence, using the method in bargaining makes one feel powerful and competent.
I feel least competent when bargaining with competitively advantaged parties. For Example, if a business is approached for a business deal and the other party shows sympathy, it suggests that they are doing the deal to help our business. Nonetheless, the business may have its hidden agendas of wanting to align with small businesses. I believe in the concept of give and take when making negotiations. Given the case of a child who hates doing their chores, the most reasonable approach is to win their respect first. The child is tamed by the benefits they retrieve and becomes overly reliant on the adult. Thus, the child automatically starts executing other house chores to maintain these benefits. Similarly, I feel least competent when presented with favors instead of opportunities to prove valuable for businesses and individuals.
Question six
I respond with an increase in confidence and will when I hold power in a situation. The negotiation process becomes easier when l have control over the outcome compared to a situation where I have no control over the outcome. Therefore, I depict a high level of confidence in my negotiation. For Example, in an interview where I am over qualified and better positioned to do a particular task than the rest of the candidates, I tend to dominate the rest of the candidates and confidence to ask for a salary worth my effort. Besides, if other candidates can also do particular tasks, I will be forced to accept a lower payment for the same work.
When l have little power in a situation, my confidence is destroyed, and I tend to listen more as orders are directed at me. Hence, giving myself a proper evaluation of the circumstance and the possible options that l have to change the situation. Also, I tend to negotiate at a smaller scale to preserve the relationships and avoid losing in negotiations. For Example, in a job situation where almost all the candidates have the expertise of doing the assigned duties, If I require the work, I will be calm not to upset the employer and be on the receiving end. Firstly, I will inquire what the employer is willing to pay before claiming what l wish to paid.
Question Seven
My strength as a person is my interpersonal skills and confidence. My skills are well sharpened in relating well with people. Thus, I can maneuver my way of creating sustainable relationships that help me in negotiations. Also, I portray confidence when relating to people, which has proven to be instrumental in negotiations. The clients can take my word seriously as they assume I am knowledgeable and outspoken on my address’s matters due to my confidence level.
My weaknesses as a person is a lack of interest in what other person say. Hence, I tend to disregard the opinion of other people and prioritize what I know. Nonetheless, it’s important to note that l show empathy and listen very keenly. Also, I retrace others’ opinions first in my conversation before giving out my view of the matter. Hence, I continue elaborating on my point, which may sound impulsive rather than suggestive. The attribute may be unfamiliar in the first negotiation, but consequently, a pattern may form as I continue interacting with people.
I have set the learning goal of being more considerate of other people as we interact. Also, l have set a target of self-development as a way of improving my skills and expertise. I am very particular about learning new negotiation skills and other knowledge from politics, business, art, and any other area that might increase my knowledge of how negotiation skills have helped me pass ideas and impart knowledge.