Negotiation homework | Business & Finance homework help
The two routes to influence in negotiation are known as the “hard” power route and the “soft” power route. The hard power route involves using threats, coercion, or other forms of control to get what one wants from another party; this is often seen in business negotiations where one person has more resources than the other. On the other hand, soft power relies on persuasion and building mutual trust between parties which can lead to better outcomes for all involved. This approach tends to be more effective at creating a win-win situation instead of an adversarial one.
When engaging in any type of negotiation it is important to assess which approach is most appropriate for given situation beforehand so that both sides can benefit from the outcome. Choosing either too much hard or soft power can result in failed negotiations &broken relationships , making it difficult for anyone to reach an agreement that meets their needs. Ultimately, finding a balance between both strategies will help create a successful negotiating environment while allowing each side come away with something they value.