The fallout from Iceland’s financial crisis offers a case study in dealing with those who have suffered a significant blow to their self-esteem. In late 2008, Iceland teetered on the edge of bankruptcy following the collapse of its three largest banks. Since becoming independent of the government in 2002, the banks had pursued a strategy … Read More
Robert Kraft, owner of the New England Patriots, was by all accounts a major factor in getting the NFL collective bargaining agreement signed earlier this week. To do so, Kraft employed four key negotiation tactics to help the players and owners come to a “win-win” solution. … Read More
You probably can recall times when a negotiating opponent made what appeared to be a blatant misstatement. If you’re like most people, you assumed the person was lying to gain an advantage. But what if she genuinely believed in the false claim? It’s not easy to offer the benefit of the doubt, especially when the … Read More
In business negotiations, threats can be fraught with risk. There is the risk that a threat will escalate conflict. There is the risk that a threat will motivate a desire for revenge. And then there is the risk that your threat will work perfectly, but you’ll be unprepared for the aftermath.
That last scenario may … Read More
Negotiators succumb to these forces for two main reasons:
They don’t realize that their behavior is unethical, and even when they do, they justify their behavior as ethical in this particular case. … Read More
This expectation of a “domino effect” may be especially likely in international negotiations, where cultural differences and territorial concerns perpetuate an “us versus them” approach. Take the international debate over Japan’s long tradition of hunting whales, a practice that many other nations condemn as barbaric and have tried to halt. In 1986, the United States … Read More
For fans of AMC’s hit show Mad Men, the news was terrible. In late March 2011, the network publicly confirmed that the fifth season of the show, originally set to air summer of 2011, would not air until early 2012. A contract dispute with the show’s creator, producer, and head writer, Matthew Weiner, had held … Read More
Business negotiators often complain that although they try to focus on creating value, they run into far too many people on the other side of the table who don’t believe in value creation. Often, they focus exclusively on trying to claim as much as possible for themselves. How should you handle these negotiations? … Read More
Strikes and lockouts have sprung up among groups as diverse as Chicago Public Schools (CPS) teachers, National Hockey League (NHL) players, and National Football League referees, not to mention American Airlines pilots, who staged an unofficial work slowdown as part of their dispute with management. … Read More
Poor communication explains many of our negotiation mistakes, write Roger Fisher, William Ury, and Bruce Patton in Getting to Yes, their landmark book. Here are four negotiation skills tips adapted from Susan Hackley’s May 2005 article “Can You Break the Cycle of Bad Communication?,” first published in Negotiation. … Read More
A distinguished older soprano, Sally has not had a lead role in two years. However, when another soprano falls ill, the Lyric Opera is eager to hire Sally…but at what price?
Sally Soprano is one of the best-known role-play simulations from the Program on Negotiation’s Teaching Negotiation Resource Center (TNRC). And it’s a classic for … Read More
Because an agent’s incentives are rarely, if ever, perfectly aligned with those of her principal (principal-agent theory), many business negotiators have been burned by agents who put their own interests first. Agents in many fields, for example, have a motivation to close deals quickly – rather than for the best price – and earn quick … Read More