Capital Mortgage Insurance Corporation Essay
Capital Mortgage Insurance Corporation
1. Find appropriate place with a good environment to conduct negotiations. 2. Talk to both parties to identify their specific issues that need solving, identify what is going to be needed to find solutions in the short and long term. Take note of each parties information related to issue at hand which can be used to corroborate information during the negotiating process. 3. Make a thorough assessment of the situation in order to be able have an easier transition into the negotiation process. 4. Pick a good alternative that will accommodate the stipulations of the joint agreement policy.
IDENTIFY AND DESCRIBE THE STEPS OF THE NEGOTIATION PROCESS
1. First thing it should be done, is that parties involved in the negotiating process will share their case. An agreement should be reached on what is the purpose of the negotiating process, which will help to come to a solution of the issue at hand. 2. Parties should say what is that needs to be changed.
3. Parties should try to come to a consensus about what will be a good settlement package. Parties should be giving an updated estimate which includes all the changes made. And last parties should be willing to trade off concessions with the goal of reaching an agreement 4. And last the negotiating parties agree to the end result of their negotiations, and also agree to abide by the agreement.
IDENTIFY GUIDELINES TO FACILITATE COMMUNICATION DURING THE NEGOTIATION
Motivate negotiating parties to become open minded to facilitate communication. Should encourage parties to open up about themselves, listen attentively and empathize with them to make them feel that your purpose as to find a solution that best fits their wants. Pay attention to detail and how the conversation is conducted, you want to get to a personal level, in order to have good interactions which can go a long way. In this phase it will be a good idea that the negotiating parties offer the shareholders alternatives which clearly define expectations and time lines.
IDENTIFY QUESTIONS THAT SHOULD BE ASKED DURING THE NEGOTIATION
At the beginning of the negotiating process questions be in such a way do not have a fixed answer, example what is your opinion about this company? What these type of questions do is that help the negotiating parties to make an assessment of what the other party wants to achieve. At no time ether party should make any concrete resolutions until there is a clear path to be taken. When the negotiating process begin either path is going to bring their buying agreements, an effort should be made in order for them to come to a consensus on a price, once this reached an agreement should be made that parties understand that it will be the final offer and they could not go below it.
IDENTIFY THE CHARESTIRISTICS OF THE NEGOTIATION STYLES
1. Adjust your behavior to empathize with fellow negotiating party in order to foster a productive negotiating environment. 2. As a negotiator understand expectations from parties in the negotiating process to produce solutions that makes them feel like they had a fair negotiating process outcome. 3. be proactive in the acquisition of information.
IDENTIFY AND APPLY GUIDELINES THAT YOU SHOULD FOLLOW WHEN THIS NEGOTIATION BECOMES CHALLENGING
You can identify when a negotiation is about to have a negative turn by observing peoples nonverbal language, this should be taken as a sign that a change of strategy merits change this can accomplished as follows. 1. Share information that will help present your case better in which the other person can see an opportunity to be able to also gain in the negotiating bargaining process. 2. Also a strategy to use when the process takes a negative tone, the best will be to keep a posture of silence listen and observe. 3. And last when closing the negotiating process, wrap it up in such a manner that if not accepted by the other party it will give a sense that the alternative will be no deal at all.