Forward Initials Negotiation with airSlate SignNow

Forward initials negotiation

like many professional and managerial disciplines the art and science of negotiation is filled with acronyms so in this video i want to look at a number of important negotiation acronyms and tell you what they mean let's start with the pre-negotiation stage of a commercial procurement for a start we've got rfi rfq and rfp and these stand for rfi request for information if you want to buy something the first thing you need is some information from the provider so you make an rfi a request for information then there's rfq if what you need to buy is based on some form of price list or some form of easy to provide financial terms then an rfq is a request for quotation tell us how much it will cost tell us the terms and conditions if however you need to be competitive and you need to learn more about the supplier more about what they can supply and the way they will supply it and their approach then you might put out an rfp a request for proposal and an alternative name for an rfp is an itt an invitation to tender and the only real difference between a proposal process and a tender process is that often a tender process carries with it a whole degree more formality and rule following government departments often use tender processes because they need to account for every penny that the government spends and they need to be accountable for the way they make their choices before any negotiation takes place you need to think about your negotiating position and there are a whole load of acronyms that refer to this stage of the negotiating process if all goes well you'll achieve your mdo your most desired outcome or perhaps you will refer to it as your bpa your best possible agreement if things don't go so well but you are able to reach agreement then you may have to make do with your lpa your least possible agreement and sitting between your least possible agreement and your best possible agreement is your zopa your z-o-p-a your zone of possible agreement or your zone of potential agreement but if you're to negotiate effectively you do need to know the point at which you're going to walk away your batna your best alternative to a negotiated agreement during the negotiation you're going to need to do some analysis and you're going to need to make a decision two common analysis tools are swot analysis and moscow analysis swot analysis takes the terms you're being offered and assesses the strengths the weaknesses the opportunities they offer and the threats they present and in thinking about the terms that you may or may not want to have in your agreement you might use moscow analysis which stands for the things that you must have the things that you should have the things that you could have and the things that you would have if...