Why is it important to develop good negotiations skills?
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In business, negotiation skills are important in both informal day-to-day interactions and formal transactions such as negotiating conditions of sale, lease, service delivery, and other legal contracts. Good negotiations contribute significantly to business success, as they: help you build better relationships
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negotiation skills are an important part of doing business. In today’s hyper-connected and increasingly competitive market, the ability to negotiate effectively is more highly valued than ever before. In fact, according to a study in the UK, it was estimated that UK businesses lose around £9 million per hour due to poor negotiating skills. That study also concluded that UK businesses could increase their overall profitability by as much as 7% annually if they had better negotiation skills.
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In business, negotiation skills are important in both informal day-to-day interactions and formal transactions such as negotiating conditions of sale, lease, service delivery, and other legal contracts. Good negotiations contribute significantly to business success, as they: help you build better relationships.
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