February 13, 2015
Instructor: Ronald Black
Author Note This paper was prepared for the Developing Bench Strength course to illustrate the preparation of leadership development skills.
Part A – Leadership Development
My development goal is to develop my negotiation skill. The reason I decide to develop this competency is that I believe leaders need to negotiate with their customers frequently in order to make great deals in their working environments of organizations. I want to be a leader in bank industry. And I know there would be a lot of tough customers we have to negotiate with. Like a person who is being financially driven by his/her credit card debts. So a leader in a bank should learn negotiation skills with people who have financial problems. Additionally, there are at least thousand financial products are selling at the same time. Bargaining with buyers would be important to bankers. Theoretically, “effective managers know how to balance their own self-interests with the interests of the other party, which is what good negotiators do. Negotiation is a process in which two or more parties seek agreement on what each shall give to, and take from, the other(s)” (Movius, 2008, p. 51). As I learn negotiation skills, I can balance or cut down debt proportion between customers and company. If I were doing a good job, I could even enhance profits for company.
I have searched a lot of strategies of negotiation these week. Few weeks ago. I thought silence would be a good strategy because it allows me have enough time to calm down and think what the next step. I can think deeply before negotiating with someone, and it wouldn't be too impulsive. However, although it is a good strategy, it is still has its flaw. Sometimes we keep silent, it shows people don’t know what they really want, and they don’t know how to response immediately with other sides. I consider that people have no ideas to face issue so that they are keeping silence. Now that silent people don’t want to express their thoughts right away, it represents they want to quit their right to voice their requirements. Silent people might lose opportunities of negotiation at once. So finally I consider that three of my main negotiation skills would be altered to building trust and understanding each other.
Enterprises and customers, one is selling side, and the other one is buying side. Without a good brand service, customers couldn’t enjoy the benefit of deals. If companies do not provide high-quality products, it is not only damage customers’ interests, but also affect enterprises’ reputation. Both parties have to establish mutual trust. Mutual trust comes from communication experience. We can build trust in the previous negotiation processes of deals. If trust does not exist between any new customers and firm, it must be established. Remember, as Linda (2011) has mentioned, “Trust is earned, but once it's lost, it's very difficult to get back.” Hence, we should be very careful in building trust with others.
Moreover, understanding all parties’ stands is a good way to score our goal of negotiation. Successful negotiations can bring us money, status, and excellent sense of accomplishment. But how to achieve? We need to train and learn other side’s background, researching other side’s information and developing negotiation strategies in advance. We can list possible questions other side would ask, and make answers in advance. The purpose of the negotiations is to persuade people. If we can quickly understand each other's ideas, habits, and other expectations form of communication, it can beat the main interests with each other. By understanding the other person's interpersonal style, communication patterns of self-adjustment, we can make a successful negotiation more easily.
Part B – Learning Partner Coaching
By coaching process with my group, I can gradually understand what