Ethics in Negotiation

Ethics in Negotiation

Ethics are the social concepts applied that distinguish between whether a meticulous situation is wrong or right or a method for setting certain policies. Values come from those philosophies which claim that the essence of the community in which people live is established and that the rules for co-existence are prescribed. Ethical principles vary from morality in that they do not contain real and individual views about what is wrong and right. When it comes to negotiation between people, it is only through ethics that both parties get the win-win result that meets their needs, and enables them to be willing to get back and bargain again sometime in the future. Ethics play a crucial role in negotiation between individuals, and without which there would never be a fair outcome in any form of dealing.

Reputation and Trust

Principles matter a lot in negotiations as it helps in building that good reputation and trust between the parties involved. For those who engage in great-value dealings, reputation is the key for people will never have the interest of transacting with those who have the bad reputation. That is to say, if the other party gets to know from the past deals that one is not honest, then it can never risk negotiating with such a party. The outcome that follows if one has transacted in bad faith always takes many years to overcome. The marketplace is where such individuals get the punishment as people shun away from them (BUSINESS INSIDER, p. 7). If one is trustworthy, honest, and fair, then it becomes easy to come to a consensus and make both parties benefit from the deal. Building up trust is not an easy task and always takes time and effort to gain the high opinion of others. So, in negotiations, it is only through ethics that parties get to know the straight forward guys, as it assists in building the reputation (Taylor).

Seeking Advice and Insight

In today's business, people sometimes tend to narrow their focus so as to have a clear view of a bigger picture. That is to say; they occasionally have the tendency of seeing their way or approach as the only way out. It is, therefore, vital for people if they are uncertain of the choices they want to make are ethical or even appropriate to seek the advice of colleagues whom they trust. One must have people around who have no other motive but to do what is ethically right, and even be open to their points of view. Through that, the ethical issues and questions can have easy solutions just by getting the insight of persons who have others' concern at mind. In such a case, ethics matter in negotiations as it makes it possible to save one's time, pain and agony, just by asking for, and using the input of those that are trustworthy and avoiding the people who are cunning and misleading (Bucaro, 9).

Differentiating the Right from Shady Deals

In negotiations, ethics matter a lot as it makes the parties become aware of the gap that exists in any dealing that separates the right from wrong and also knows of the route to take to be successful in whatever dealing. The majority of people have an awareness of right from wrong; nonetheless, during the negotiations, they are always ready to compromise on the ethical values. In such a case, ethics in negotiations helps in differentiating between the right and shady deals. People should not transact with unethical individuals who always go against the law but deal with the ones with good reputations. It is always good to be trustworthy in any negotiation even if the other party does not because one can always walk away after realizing such an unethical plan (Strudler, Alan).

Works Cited

Bucaro, Frank. "Business Values and Ethics - Ethical Negotiation Style | Negotiation Experts." Negotiation Skills Training Courses | Negotiation Experts, 2016, www.negotiations.com/articles/ethical-negotiation/.

BUSINESS INSIDER. "Why We Need More Ethics In Business Negotiations." Business Insider, 27 July 2011, www.businessinsider.com/why-we-need-more-ethics-in-business-negotiations-2011-7?IR=T.

Strudler, Alan. "On The Ethics of Deception in Negotiation." Business Ethics Quarterly, vol 5, no. 4, 1995, pp. 805-822. Cambridge University Press (CUP), doi:10.5840/10.2307/3857416.

Taylor, William. "The Importance of Ethical Negotiations - Thought Reach." Small Business Hub | Thought Reach, 2017, thoughtreach.com/importance-ethical-negotiations/.