 Okay, we all negotiate in some point in our lives. It might be at home, as a parent, you negotiate with your children to get their homework done. Or at work, we might be negotiating with our team members. Today, I'll be discussing 12 important business negotiation skills. The first one to look for the definition of negotiation. Negotiation is a strategic discussion that reserve an issue in a way that both parties feel acceptable. In a negotiation, each party tries to persuade the other to agree with each other's own point of view. By negotiating, all involved parties try to avoid arguing, but agree to use some form of compromise. So types of negotiation. Most negotiation outcomes will fall into two categories, win-win or win-lose. By understanding the different types of negotiation, you can determine the most relevant skill for your role and work. Disability and integrative negotiation are the most common types of negotiation. So what is distributive negotiation? This distributive negotiation is also called distributive bargaining. Both sides try to gain control of a limited amount of resources. This is considered a win-lose negotiation. One side's gain equals the other side's loss. So that's the definition of distributive negotiation. So integrative negotiation is often referred to as a win-win negotiation. It occurs when everybody benefits from the agreement. There is usually more than one issue to be negotiated. So there are opportunities for trade-off. So to reach an agreement, each side receives value. So those are the types of negotiations. So what are negotiation skills? Negotiation skills are qualities that allows two or more sides to reach a compromise. They are often soft skills, such as communication, persuasion, planning, and cooperating. Understanding these skills are the first steps to becoming a stronger negotiator. Communication. Communication skills include identifying non-verbal cues and verbal skills to express yourself in an engaging way. Skills negotiators can change their communication style to meet the listener's needs. So the next one is active listening. Active listening skills are crucial to understanding another opinion in negotiation. Unlike passive listening, which is the act of hearing a speaker without retaining their message, active listening ensures that you're able to engage and literally call specific details without needing information. So the next skill is emotional intelligence. Emotional intelligence is the ability to control your own emotion and recognize others feeling. Being conscious of the emotional dynamics during negotiation can allow you to remain calm and focus on the core issues. So the next skill to have is expectation management. Just as you enter a negotiation with a clear goal, the other side is also likely to have its own defined expectation. If you believe you might not be able to agree to each other's theme, you could just try adjusting your own expectation. So the next skill to have is patience. So negotiating can take a long time to complete, occasionally involving renegotiation and counteroff, rather than seeking a quick conclusion. Negotiators often practice to properly assess a situation and reach the best conclusion for their clients. So the next skills to have is adaptability. Adaptability is a vital skill for a successful negotiation. Each negotiation is unique and the situation within a single-line negotiation may change from one day to the next. For example, an involved party may change their demands. So how do you adapt? So the next skill is persuasion. The ability to influence others is an important skill in negotiation. It can help you define why your proposed solution is beneficial to all parties and encourage others to support your own, your point of view. So we also have planning. Negotiation requires planning to help you determine what you want. The ability to prepare, plan, and think ahead is crucial to a successful negotiation. Planning skills are necessary not only for the negotiation process, but also for deciding how the terms will be carried out. Then integrity. Integrity or having strong ethical and moral principle is an essential skill for negotiation. Being thoughtful, respectful, and honest allow the other side to trust what you say. As a negotiator, you should be able to, you should be able to on commencement. Reports building. The ability to build rapport enables you to establish relationship with others. Why both sides feel supported and understood? Building a rapport requires you to effectively communicate your goals, but also understand the other side's wants and need. Then problem solving. Negotiation requires the ability to see the problem and find a solution. For example, if a price is too high, how do you lower it? How is it lowered? If a resource is shut, what can be done to increase it? So these are skills, problem solving skills. Then the next one is decision making. Good negotiators can act decisively during a conversation. It is necessary to agree to a compromise during a bargaining arrangement. You need to be able to react decisively. Keep in mind that your decision may have a lasting effect on yourself and your company. So how do you prepare for a negotiation? There are different steps in which you can prepare. First, you do your research. You evaluate all sides and consider your goals. You do a research on the person you are negotiating with. You also understand the limitation of your negotiator. Also know your priorities. This will mean what is important and what you are willing to set to form. So these are the top 12 skills. The top 12 business negotiating skills a negotiator should possess. Thanks for listening. Let's go to the end of my picture-chart presentation.