A core leadership and management skill is the ability to negotiate effectively in a wide range of business contexts, including deal-making, employment discussions, corporate team building, labor/management talks, contracts, and handling disputes.
When Art Buchwald sued Paramount Pictures over the 1988 Eddie Murphy movie Coming to America, the widely reported outcome was seen as a win for the late, beloved humorist. But Buchwald actually lost — and so did Paramount. … Read More
When interests collide, some managers dig in their heels: You get your way or I get mine. Others go for a compromise where the plan is to give up as little as possible. Neither strategy is likely to lead to the best outcome. But businesses, nonprofits, government agencies … and even rock ‘n’ rollers … … Read More
As negotiation experts, David Lax and Professor James Sebenius find that many negotiators focus on process and substance. Whether in person, over the phone, or through email, business outcomes seem determined by how well parties can establish trust, communicate, and put the best deal on the table. These are the first two and best known … Read More
Under certain conditions, women may work harder than men when negotiating on behalf of others, suggests a study by Harvard professors Hannah Riley Bowles and Kathleen McGinn, and Carnegie Mellon University professor Linda Babcock. … Read More
You may be negotiating for others, but that doesn’t mean they should be looking over your shoulder. Negotiators often have trouble bargaining effectively in the presence of onlookers, according to researchers Karen Jehn and Lindred Greer of Leiden University in the Netherlands. … Read More
Imagine that at the beginning of class, a professor produces a jar full of coins and announces that he is auctioning it off. Students can write down a bid, he explains, and the highest bidder wins the contents of the jar in exchange for his or her bid. … Read More
This is one of the most common negotiation questions. A car is one of the most significant purchases you’ll make, and the price is almost always negotiable. Here are some tips to help you with this financial negotiation.
Prepare, prepare, prepare. You can’t walk into a dealership without having done some online research. Online you can … Read More
Individuals in this position often feel as though they have few if any options. In his February 2006 article in Negotiation newsletter, “Negotiating with a 900-Pound Gorilla,” MIT Professor Lawrence Susskind offers strategies for how negotiators in a weak position should deal with a seemingly all-powerful opponent. … Read More
What’s the right number of options to put forward in financial negotiations? In their April 2005 article in the Negotiation newsletter, “Putting More on the Table: How Making Multiple Offers Can Increase the Final Value of the Deal,” Northwestern professors Victoria Husted Medvec and Adam D. Galinsky write that issuing three equivalent offers simultaneously can … Read More
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Understanding how to arrange the meeting space is a key aspect of preparing for negotiation. In this video, Professor Guhan Subramanian discusses a real world example of how seating arrangements can influence a negotiator’s success. This discussion was held at the 3 day executive education workshop for senior executives at the Program on Negotiation at Harvard Law School.
Guhan Subramanian is the Professor of Law and Business at the Harvard Law School and Professor of Business Law at the Harvard Business School.
