Nothing but negotiation

The Gap Partnership

Preparation is a 'key' negotiation skill

Firms should prepare for talks well in advance

25 October 2010

Companies should always create a plan for talks as preparation is a crucial negotiation skill, it has been claimed.

Although quick-thinking is often an advantage in negotiations, companies can often significantly profit from researching the other side before talks start.

David Vower, writing for, expressed his belief that businesses should prepare for any outcome from negotiations.

He said: "Good or bad, any deviation from the prepared argument could be bad if you don't know what you're doing. Being light on your feet and very flexible will save you from many blunders, but it's better to know what you're planning to do if this event occurs.

"Be prepared, and you'll save yourself from having to fix problems later on."

A well-defined plan can also ensure a company does not make too many concessions as some ill-prepared negotiators may accept a poor deal if they fail to set boundaries before entering discussions.

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