Hello again, how are you doing so far? Can you believe we're getting close to being half way through this course? I know, me neither, are you ready to take a look at today's lesson, let's do it. In our introduction video this week did you see how Catherine concedes to Elizabeth in their conversation about the new machine? Elizabeth wants to purchase new machinery to help with labels and packaging and Catherine questions her by asking if it's the only possibility. Because she's there to help make financially sound decisions. Could you tell that at first, she didn't want to do what Elizabeth was suggesting, but then, she does? Wait a second, I just said that Catherine concedes to Elizabeth, but what does it mean to concede? Well, concede means to surrender, or to give in. Why do you think that Katherine conceded? Well in today's lesson we will talk about how and why people concede. And we will also learn how to know when it's time to concede based on facts and logic, even if it's not what you personally want. So let's begin, when there are two people trying to reach an agreement, ideally they should do so by presenting their opinions. Supporting them with facts and logic, right? Well, so how do people concede during a negotiation? The actually do so little by little with respect and tactfulness. Now, why do you think people concede? Why do you think Catherine conceded to Elizabeth? Let's really think about this. How would the dialog have changed if Catherine had not conceded? Can you think of a couple of reasons as to why she gave in? Do you think Catherine is scared of Elizabeth? Do you think no matter what she says, she thinks her opinion might not matter? In answer to these questions, Catherine had many reasons why she conceded to Elizabeth. Let's remember though, Katherine and Elizabeth have different leadership roles within the company, and both of their professional opinions matter. Katherine did question what Elizabeth was saying, but she also realized a decision needed to be made before they could move forward on their product development. Do you think there is a definitely answer to how people concede, absolutely not. Of course, making concessions depends on the situation, and it also depends on those involved in the discussion. So, it's very important to always think about who your audience is before you make a final decision. Also, we can continue to use Katherine for our example. She decided to politely say, of course, giving Elizabeth the signal to move on. Every situation will be different and it's important that your voice and opinions are heard. But sometimes we need to be willing to concede. Especially like in Katherine's situation where it was more beneficial for the entire Biodent team's progress to just let that decision go. Keep in mind that the relationships made during discussions with disagreements can be just as valuable as the negotiation itself, if not more. So always be respectful and cautious with your words, so you're still able to hold your ground and present the necessary facts before you concede. Finally our last question was how to know when it's time to concede. Well, according to the business insider article from April 2012 on negotiating needs and when to concede. People should only concede after they have done all their research. So that they know that they are making a reasonable concession. And this holds to be true in many situations. Let's once again look back at Catherine and Elisabeth. It is clear that Elisabeth is able to present the facts by saying that buying the new tool is the best option, after she was asked if that was the only possibility. She not only expresses that there's seamless workflow which means no down time. But she also mentioned that if they don't change the packaging for other markets, they will have to move their launch date up which will set them behind schedule. So as you can see, Elizabeth offers strong reasons to Kathryn as to why they should only look at one tooling option. Unfortunately there is something strange said by Elizabeth when she mentions that they did find a less expensive option. But she'd like to keep that quiet and off Katherine's report, what is that all about? Well, in our next communication lesson we will look at the importance of maintaining integrity and standing by a moral code. That matches a professional atmosphere, so, before we go, let's sum up our key takeaways. We learned about how and when to concede, as well as why. Just remember, next time you're in the middle of a negotiation, make sure you are respectful and that you listen carefully to the facts presented. So that you can make an educated decision that you're comfortable with. If you have to be the one to concede in the end. Thank you for watching and I will see you next time.
