Closing The Deal Example

Closing The Deal Example Closing The Deal – Coursework Example Closing the Deal Closing the Deal a. Negotiation skills in closing the deal include being in a position to develop an agreement template ensuring the proper memorization of vital aspects of a negotiated deal (Carrell & Heavrin, 2008). The second skills in closing a deal involve the ability to have an understanding of the measures that allow a person to have value/retain value in the closing a deal in a negotiation. The third skill involves the identification of factors causing a stalemate and ways to overcome the stalemates with the fourth skill being ability to know bargaining traps and avoid falling to them in closing the deal. The fifth negotiation skill is using skills to build a relationship between negotiating parties. I would apply the five negotiation skills in closing a deal on supply of electronic devices to a cyber cafà © through writing down a template on the main aspects of the deal in terms of the provision of devices, timelines, and payments, among other pertinent iss ues. Having value in the negotiation will be ensured by providing a limit under which the service cannot be provided to ensure the purpose and profitability of the service are met fully. Understanding the possibility of the software or other characteristics of the devices that could be causing the stalemate and providing reasonable assurances and benefits offer the competition will allow in overcoming stalemates. Bargaining traps, in this case, could be the client negotiating for additional services that would water-down profits or increase costs including provision of free software for the company. Being vigilant for these traps and staying on course in the negotiation will allow for closing the deal. Despite hard stand on prices, providing other ways for profitability by the company including additional service at no extra cost like repairs and recycling of electronic devices will allow for the creation of a relationship between the two parties. b. Importance of an agreement templ ate An agreement template is important because it allows for recording a decision made in the negotiation, amount of payments, and time-frame for completion of the activities allowing for success in performance of functions relating to the deal (Young, 1991). A written agreement best serves in generating commitment to an agreement because it provides a framework for a party to seek alternative measures to achieve its end of the bargain through the court system and other conflict resolution mechanisms since a written agreement template is admissible. Written agreement acts as a reminder and benchmark to performance. ReferencesCarrell, M. R. & Heavrin, C. (2008). Negotiating essentials: Theory, skills, and practices. Upper Saddle, NJ: Pearson Prentice Hall.Young, H. P. (1991). Negotiation analysis. Ann Arbor, Mich: University of Michigan Press.