Basic Negotiation Skills for Banking Professionals

Everyone negotiates, but many of us have not learnt or been trained in the Art of Negotiations! We just do it on a trial and error basis. This is where we as individuals, organisations and even nations may pay a very high price for the lack of knowledge and skills in negotiations.

Every negotiation has its costs, be it financial, economic, social or emotional, and all of these affect productivity and performance, and of course, the bottom line for any organisation. It is not a matter of getting the science right. Most of us think of negotiation as a purely rational exercise.

One has to get the art right, as personality, emotions and strategic motives play a large role in most negotiations and can contribute to the success or failure to reach agreement.