power of information. explain how important

Business & Finance
Tutor: None Selected Time limit: 1 Day

  • Informational source of power is considered the most important power in negotiation. 
  • Explain why negotiators prefer information over any other form of power in the negotiation process. 
  • Provide an example of how power of information can be used in negotiation
Oct 2nd, 2015

Thank you for the opportunity to help you with your question!

It is not doubt that the power of information is one of the most important power in any negotiation process. Negotiation is always based on facts which can only be found in the information available. Decisions in any negotiation are also made based on the provided information which also makes information the most powerful asset in a negotiation. For example, a negotiation process where an expert in a given field is involved makes the contribution and views of the expert paramount. For instance, a negotiation about a subject which requires legal advice becomes easier if a lawyer is involved. In this case, the information provided by the lawyer becomes the most powerful resource in the negotiation  process. Thus, informational source of power is considered the most important power in negotiation. 

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Oct 2nd, 2015

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Oct 2nd, 2015
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