Career Progression Briefing: Negotiating in Finance

STEP 3: Understand the dynamics

Blue negotiators Concerned with building a relationship more than winning. They tend to: See every negotiation in a long-term context Seek to succeed by co-operation Believe that more for you can mean more for them as well

Different people have different styles of negotiation. Recognising and understanding that is key to understanding the dynamics of a negotiation. It is helpful to place different negotiators on a scale, with confrontational “red” negotiators at one end, and consensual “blue” negotiators at the other. Let’s take a look at these main styles of negotiation in more detail: Red negotiators Concerned with winning more than on building a relationship. They tend to: Treat every negotiation as a short- term contest Believe that more for them means less for you Try to dominate in order to win Try to get something for nothing Use manipulative ploys, brinkmanship, dirty tricks and coercion

Avoid manipulative techniques Will only trade something for something

NEGOTIATING IN FINANCE | STEP 3: UNDERSTAND THE DYNAMICS

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