Negotiations between representatives of companies A and B with the aim of concluding a deal

The central theme of the present diploma thesis is business negotiations, the purpose of which is to conclude a deal. I am interested in how to prepare for negotiations, what their execution should be like, what are the goals and results of negotiations. During the work itself, he focused on theoretical data, which he drew from various sources, and on a survey, which he conducted amongst one hundred respondents. Very important are the choice of time and place and, of course, appropriate communication with interlocutors, with which we can achieve successful business results. Some people have the abilities of communication and negotiation already innate, but when they combine these with theoretical knowledge, success is almost guaranteed.

Problem

The central theme of the present diploma thesis is business negotiations, the purpose of which is to conclude a deal. I am interested in how to prepare for negotiations, what their execution should be like, what are the goals and results of negotiations.

Solution and method

During the work itself, he focused on theoretical data, which he drew from various sources, and on a survey, which he conducted amongst one hundred respondents. He began the diploma thesis with an explanation of the concept of negotiations, spoke about their purpose, why negotiations are needed at all and what are the goals of negotiations. Furthermore, he described different strategies, styles and tactics in negotiations.

In the research part of the diploma thesis, with the help of data obtained through the survey, he established that successful negotiation requires combining numerous factors, we must be able to choose different approaches for selected opportunities and clients.

Results

Very important are the choice of time and place and, of course, appropriate communication with interlocutors, with which we can achieve successful business results. Some people have the abilities of communication and negotiation already innate, but when they combine these with theoretical knowledge, success is almost guaranteed. After Slovenia's entry into the EU and with the opening of new markets (both in sales and in procurement terms), knowledge of negotiations with people of different cultures, customs and habits has become a very important factor in the business process.

In addition to personal characteristics, knowledge also contributes to greater success in negotiations, which can be found in professional literature, obtained at various seminars and workshops, where we meet people with great knowledge and numerous experiences, who are a real treasure trove of information and can be used to advantage in our own practice as well. In his diploma thesis, he presented different methods and ways of conducting business negotiations. I was interested in how negotiators prepare for conversations with clients, which tactics they pursue and whether they analyse their work before negotiations and also after them.

The process of negotiations is not something static, but quite the opposite, a distinctly dynamic situation. Because the success of negotiations depends on the performers themselves, this process will never be possible to definitively frame into certain rules. The process of negotiations will always be influenced by the participants themselves with their learned or innate abilities.

Economic and political trends will also have an increasingly important role in this, as they will change together with them for negotiating strategies. It may happen that methods that today are considered the most interesting and advanced will tomorrow no longer be suitable for achieving common goals or will even threaten the continuation of negotiations. Certainly and forever, however, it will hold true that negotiation is a process in which participants with different interests appear with the aim of mutual long-term cooperation.

This process will never be successful if the interests of both negotiating parties are not appropriately realised. The greatest responsibility for successful negotiations rests with the performers of negotiations themselves. Success in negotiations and long-term cooperation of clients can be expected if they treat negotiation as a dialogue, where each party appears for the same reasons, and in the opposite party they will not see competitors, but partners.

They will sooner or later be forced to this realisation by the situation on the market, which will direct them towards acquiring knowledge from those areas that are of key importance for achieving the desired result. The survey also established that today's businesspeople are tolerant, have great knowledge, are calculating, uncompromising and that they also carefully analyse the results of negotiations. In the conclusion itself, there is also a comment on the assertions or hypotheses.

The assertion that in the business process communication is an important part of business negotiations is correct. In the business process, appropriate communication between partners is very important, as only in this way can we achieve successful long-term business results. Quality communication means that we prepare thoroughly for negotiations, master a foreign language well when we cooperate with foreigners, study their particularities, such as culture, religion and geographical position, and last but not least also the political characteristics of their country.

Without all the mentioned knowledge, we would negotiate with great difficulty or in a truncated manner, as some unpleasantness could happen to us (we insult the business partner, humiliate them, understand incorrectly) and thus we would quickly conclude negotiations, which from a business point of view is not good. The hypothesis, which states that for successful negotiations tactics and the choice of appropriate strategy are very important, also proved to be correct, as without a precise strategy and correct tactics there is no positive result in the negotiation process. All participants prepare for negotiations in the majority, but the percentage of those who prepare very well or carefully is significantly smaller than those who prepare carefully.

The fact is that to achieve a result we must have a developed strategy and tactics, as only these guarantee us success in negotiations. The correct choice of space and time is also an important factor in business negotiations. In choosing space, I would emphasise the size of the space in relation to the number of participants, the brightness of the space, the tidiness of the space (cleanliness, fragrances, pictures, flowers...) and last but not least also the absence of external factors (noise) for easier communication.

Suitable time for negotiations is mainly the morning hours of the day and days from Tuesday to Thursday. Let me conclude my work with the following thoughts: Negotiations are part of their everyday life. We negotiate, so to speak, from early youth to death.

Negotiation skills are very important for their business and private interest, therefore learning about them and mastering them never ends – they are part of lifelong learning.