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Last updated on 2024年7月21日

A key stakeholder in a negotiation shifts their demands. How will you navigate this unexpected change?

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Navigating a negotiation can be akin to sailing through unpredictable seas. When a key stakeholder suddenly shifts their demands, it's crucial to remain adaptable and maintain a steady course. This unexpected change can be disorienting, but with effective Business Relationship Management (BRM) skills, you can turn the tide in your favor. Understanding how to manage this shift is essential for ensuring the negotiation remains on track toward a mutually beneficial outcome.

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Santosh Pareek

Chief Control Officer, Global Lead for Credit Ops & Collaterals

1 Assess Impact

Upon learning that a key stakeholder has changed their demands, your first step is to assess the impact of these new requirements on the negotiation. Take the time to understand the reasons behind the change and consider how it affects the overall objectives and strategy. This understanding will allow you to evaluate whether these new demands are a deal-breaker or if there is room for compromise. Remember, flexibility is a valuable trait in any negotiation, but so is clarity on your own boundaries and limits.

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Kirupakar Sathyanarayanan

GenAIReady | Higher Education | Assessment | Employability | Edu-Tech | Business Strategies | SAAS: ERP & EBS | Campus Engagement | Corporate Relationship | Business Consultant
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Simple techniques that I know involve evaluating the impact of the deviation, staying grounded, and maintaining open communication. Focus on the core goals, like the primary objectives of the negotiation. Discuss their revised demands to explore viable solutions. Communicate openly with the stakeholder to understand their new needs. Collaborate to co-create options and reach a mutual agreement, like adjusting the terms to accommodate their changes while protecting our interests. Finally, improvise your strategy based on the new terms.

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2 Stay Calm

It's natural to feel a rush of emotions when faced with unexpected changes in a negotiation. However, it's imperative to stay calm and collected . By keeping your emotions in check, you'll be better equipped to think critically and respond strategically. This composure will not only help you maintain professionalism but also send a clear message to the stakeholder that you are in control and capable of handling surprises. A calm demeanor can often lead to more productive discussions and a willingness from all parties to find common ground.

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Santosh Pareek

Chief Control Officer, Global Lead for Credit Ops & Collaterals
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Stay calm and composed: Avoid reacting impulsively or emotionally. This allows an individual to think clearly and respond effectively. We end up in inviting troubles and make the situation by being emotional.

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3 Open Dialogue

Open dialogue is key when dealing with changing demands. Engage with the stakeholder to gain insights into their new position. Ask questions that encourage them to explain their perspective and reasoning. This not only demonstrates your willingness to understand their concerns but also provides valuable information that may help you to negotiate more effectively. Communication is a two-way street, so ensure you also articulate your own concerns and the potential implications of their revised demands.

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Santosh Pareek

Chief Control Officer, Global Lead for Credit Ops & Collaterals
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Communicate Transparently: Discuss the new demands with your team and communicate openly with the stakeholder about the challenges and potential solutions. Clear dialogue and engagement will lead to mutually beneficial solutions. Basis this, be willing to adjust your negotiation strategy and goals as needed.

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Holly V.
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The biggest thing to uncover and understand, is WHY? Asking open ended questions: -How will these new needs ensure your success? -What will be the change in outcome? -How do you think these demands should best be met? -What flexibility do you have with the new requirements? -Tell me about what has come up for you in this?

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4 Explore Options

With a clear understanding of the stakeholder's new demands and the reasons behind them, it's time to explore options . Consider alternative solutions that might satisfy both parties. Be creative in your approach and think outside the box; sometimes a fresh perspective can reveal solutions that were not initially apparent. This stage is about finding the balance between accommodating the stakeholder's needs and preserving your own interests.

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5 Build Consensus

Building consensus is crucial in moving forward after a change in demands. Strive to create an atmosphere of collaboration where all parties feel heard and valued. This collaborative approach can foster goodwill and lead to more sustainable agreements. It's important to highlight the benefits of any new terms and how they can contribute to a successful partnership. Remember, the goal is to reach an agreement that everyone can support, not just to 'win' the negotiation.

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6 Adjust Strategy

Finally, adjusting your negotiation strategy in response to the new demands is essential. This may involve revisiting your objectives, consulting with your team, or seeking advice from experts in Business Relationship Management. An agile strategy will enable you to adapt to changes while still working towards an advantageous outcome. Keep in mind that negotiations are dynamic , and being able to pivot effectively is a testament to your skills as a negotiator.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Santosh Pareek

Chief Control Officer, Global Lead for Credit Ops & Collaterals
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7. Seek additional information: If necessary, request additional data or expert input to support your negotiation. 8. Maintain relationships: Prioritize building trust and rapport, even if the negotiation becomes challenging. 9. Be flexible: Be open to compromise and finding innovative solutions. 10. Know your limits: Be prepared to walk away if the new demands are unacceptable or compromise your core interests. Remember, negotiations are dynamic, and adaptability is key. By staying flexible and communicative, you can navigate the unexpected change and work towards a successful outcome.

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A key stakeholder in a negotiation shifts their demands. How will you navigate this unexpected change?

1

2

3

4

5

6

7

1 Assess Impact

2 Stay Calm

3 Open Dialogue

4 Explore Options

5 Build Consensus

6 Adjust Strategy

7 Here’s what else to consider

Business Relationship Management

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A key stakeholder in a negotiation shifts their demands. How will you navigate this unexpected change?

1

2

3

4

5

6

7

1 Assess Impact

2 Stay Calm

3 Open Dialogue

4 Explore Options

5 Build Consensus

6 Adjust Strategy

7 Here’s what else to consider

Business Relationship Management

给文章评分

感谢您的反馈

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