Business talk: What makes for a win-win negotiation?

A win-win negotiation is a principled and constructive approach prioritizing the interests of all parties. It treats the relationship between negotiating parties as collaborative, explains business professional Michael Saltzstein. It’s not about conceding for the sake of sustaining relationships but aspiring for fair and equitable agreements.

It’s essentially the opposite of a competitive approach. There’s no zero-sum, fixed pie in which one company has the advantage or lords it over the other. The premise is that there are ways to find valuable take-aways for parties involved. This lets everyone involved in a transaction feel a sense of fairness and satisfying results.

Negotiating for a win-win scenario requires a combination of attitudes, qualities, and skills. Firstly, it must bank on genuine empathy on one side, an ability to fully understand the interests of other party. This entails being an expert on the subject matter and communicating such with authority, which in turn means openness to various alternatives or options in mind.

It’s assumed that one actively listens to the concerns of the other party, showing patience, and asking questions to make sure that everything being raised is understood clearly. There’s no need to discuss or bring to the table personal or internal issues. All in all, a win- win negotiation is about being genuine and visualizing the optimal outcome for everyone involved, adds Michael Saltzstein.

Business Michael Saltzstein is committed to optimizing award-winning risk programs, economic strategies, reserving, and best practices and state-of-the-art coverage. A veteran USA Swimming official, Mr. Saltzstein is a recipient of The High School Sports Association’s All-Star Winter 2019 Award for swim and dive officiating. Visit this page for more business-related reads.