There are five critical factors in negotiation: Interests, Knowledge, Timing, Leverage, and Relationships. Understanding each of these concepts is essential for success.
In preparing for a negotiation, the more you are aware of them and can utilize them, the more likely you will have a positive outcome. In assessing the five critical factors, interests stands out because it is central to a successful result. When the parties involved focus on interests and those interests are made clear during negotiation it can clear a path to a mutually acceptable result. Interests also are the only factor not affected by the power sources of the parties.
The other four factors; Knowledge, Timing, Leverage, and Relationships come into play and can shape the nature of a negotiation based on power sources involved, as we will discuss in later chapters.
Continue Reading: Negotiation Critical Factor 1: Interests