HOW TO HANDLE VIDEO NEGOTIATIONS

With so many of us confined at home to stop the spread of COVID-19, it is fortunate that much economic activity, from buying groceries to banking services, can be carried online. As it turns out, many business deals and negotiations also happen online these days. As opposed to email, phone calls or instant messaging, video-conferencing is the tool that resembles regular face-to-face meetings the most. That being said, it can’t convey as much information about the parties’ non-verbal cues. And sometimes, during technological glitches, we might miss a few words and refrain from asking the person to repeat, thus missing out on verbal cues as well. In these challenging times, video-conferencing has the benefit of being a considerably cheaper means to conduct negotiations than face-to-face meetings. Given the fact that many companies are struggling due to contracting economic activities, videoconferencing may be a more sensible way to conduct business going forward, at least until the situation returns to normal, which could take months if not years. Hopefully, business negotiated via video-conferencing will help companies save costs and navigate stormy waters to a calmer and safer harbor in the future.  Read More >>

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