As we all tend to communicate and interact with our surroundings differently based on our past experiences, personality traits, and skills, it makes sense that these elements are also reflected in the way that we negotiate. Surely, then, there must be countless negotiation strategies based upon all the possible combinations of these factors. Not quite! There are roughly five distinct styles in use when we try to reach an agreement or resolve a conflict and they are rarely used in isolation: competing, accommodating, avoiding, compromising, and collaborating.
In the coming weeks we will be taking you on a bite-sized and easily digestible journey across all five, as we explain their commonalities and differences, strengths and weaknesses, and what scenarios they are best suited to. By the end of the series, we hope you will have gained a better understanding of your own preferred negotiation style and just how important it is to be flexible in your choice depending on the dynamics and the different stages of a negotiation.
IntelleXt is an AI startup that is revolutionizing the way contracts are negotiated, accelerating time to close, and improving deal terms. IntelleXt’s Intelligent Negotiation Platform™ eliminates the complexities of contract redlines and stakeholder collaboration and optimizes deal terms by applying machine learning during the negotiation process.
Fengwei David An is IntelleXt’s Game Theory & Analytics Research Manager. He has extensive knowledge and practical experience in decision-making processes, negotiations, and compliance through his work in public as well as in private enterprises.