Best Business Practices

Importance of Skillful Negotiations

Importance of Skillful Negotiations

Importance of Skillful Negotiations

The Treaty of Hudabiyah

Navigating problems that arise every now and then requires careful thought. The Prophet himself faced such a situation when he was in a weaker position vis a vis the Meccans who were demanding him to sign a treaty which was not fair by the Muslims and which many of his companions were not happy about. However he went ahead and signed the treaty which finally turned out to be a great victory for Islam.

Lessons Learnt:

1)  Leaders must make informed decisions even if they may not be popular. However when making such decisions the leader must have all the facts in front of him. This is what we call informed decision-making.

2)  Leaders must be able to think outside the box and have the ability to see beyond the obvious.   

3)  Leaders must have the guts to make decisions which may be temporarily disadvantageous to the organization though they anticipate long or mid-term benefits based on their gut feeling combined with all available evidence. It takes guts to take hard decisions, but with risk comes a lot of benefit too. Nobody ever prospered without taking risks.

Win-Win Situations

The bottom line is anyone can make the right decision when it’s a win-win situation, but the most successful people are those with a vision who can see what others cannot and willing to take the risk.