Power refers to the extent to which one can satisfy their target goals, needs or desires. Power can be used either to dominate or control the other, or can be used to work together with the other party involved. Whichever way power is used it gives one an edge over the other party in negotiations. Information provides an important source and a means of acquiring power. Reason for Selection:
Informational power comes from a person’s ability to assemble data to support his positions, arguments, or desired outcomes. This resource provides an important tool in challenging the other party’s position, or undermine their arguments or propositions during negotiations. Application to a business or personal situation: A year ago, I was talking to a doctor who was new at one of the centers I am marketing my pharmaceutical products.
The doctor openly rubbished my product saying he had absolutely no scope for it in his medical practice basing his argument on the position of a respected doctor in the area of medicine in which my product is applied. What this doctor did not know is that from my market survey on my product and competitor brands momentum in the market, the doctor he claimed was the top prescriber of my product in that town . I provided the evidence and within a month I received a call from my manager that the doctor had placed an LPO for my product.
Action or steps taken to improve: I read widely and extensively on new trends in my area of work; undertake market survey on different issues; seek the opinion of experts; attend seminars and conferences on various topics; and in general try to keep an open mind, maintain my curiosity about life and watch informative programs.
References Squidoo (2010). A goldmine of journal Writing Prompts. Retrieved on 30th July, 2010, from http://www. squidoo. com/journalwritingprompts