| Key Data |
Statistics |
| Average success rate of negotiations |
53% |
| Percentage of negotiators who prepare thoroughly |
70% |
| Impact of body language on negotiation outcomes |
55% |
As you can see from the data above, preparation is key when it comes to successful negotiations. In fact, 70% of negotiators who prepare thoroughly are more likely to achieve their desired outcomes. Additionally, body language plays a significant role in negotiation success, with 55% of the impact being attributed to non-verbal cues.
Now that we have established the importance of preparation and body language in negotiation, let's explore some Level 7 Diploma tips for mastering the art of negotiation in international business:
1. Understand cultural differences: In international business negotiations, it is crucial to be aware of and respectful towards cultural differences. Take the time to research the cultural norms and practices of your negotiating partner's country to avoid any misunderstandings.
2. Build rapport: Building a strong rapport with your negotiating partner can help create a positive and collaborative atmosphere. Take the time to establish a personal connection and show genuine interest in their perspective.
3. Focus on win-win outcomes: Aim to create mutually beneficial agreements that satisfy the needs and interests of both parties. By focusing on win-win outcomes, you can build trust and strengthen your business relationships.
By incorporating these Level 7 Diploma tips into your negotiation strategy, you can enhance your skills and achieve greater success in the world of international business. Remember, negotiation is both an art and a science – with practice and dedication, you can become a master negotiator.
Source of data: Negotiation Experts Study, 2021.