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The Gap Partnership

Concessions are 'required' during business negotiations

Negotiators can concentrate on bigger issues once smaller topics are dealt with

05 August 2010

Firms should make concessions on smaller issues when negotiating a contract, according to an expert.

Drew Stevens, the author of several business improvement books, expressed his belief that negotiations would not be possible without compromise.

He wrote on chiroeco.com: "Concessions enable negotiators to agree on small things to assist in declaring small victories. Accommodations negate foolish issues and streamline discussion."

Firms which agree to concede smaller issues will have more time to discuss the larger topic and therefore have a greater chance of achieving a better deal.

Once any agreement has been made, both sides should ensure it is adequately documented and recorded to ensure it does not have to be mentioned again.

Mr Stevens stressed the importance of good documentation, as poor paperwork can often lead to the collapse of negotiations.

Furthermore, the introduction of a strict timetable can also help to streamline talks as more time can be set aside to discuss important subjects. 

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