Although forecasting errors are extremely common, you can minimize their impact on your negotiations by following these three guidelines.
BATNA
Best Alternative to a Negotiated Agreement. The true measure by which you should judge any proposed agreement. It is the only standard which can protect you both from accepting terms that are too unfavorable and from rejecting terms it would be in your interest to accept. (Roger Fisher and William Ury, Getting to Yes [Penguin Books, 1991], 100-01)
The following items are tagged BATNA.
September 2013
To Harness Your Power, Consider a Coalition: The story of how the US Senate passed comprehensive immigration reform offers guidance for negotiators seeking to build support for a cause.
“So How Much Do You Make?”" Why a new openness about wages may be affecting job negotiations.
A Deal Blows Up: The Duke-Progress Energy Merger
Types of Power in Negotiation
Social psychologists have described types of power that exist in society, and these types of power emerge in negotiation as well.
Two types of power spring from objective features of the bargaining process.
Choosing When to Choose
When it comes to negotiation, the more choices on the table, the better your outcomes will be – right? Not necessarily. An excess of options can stand in the way off efficient agreements and, moreover, prevent you from being satisfied with the final result.
Exclusive Negotiation Periods
The clearest method for achieving exclusivity is an exclusive negotiating period, during which both sides agree not to talk to third parties, even if approached unexpectedly by others. In some arenas, these terms are called no-talk periods.
August 2013
In Negotiation, It’s All in the Timing: Yes, you should consider making the first offer – but when?
Got a Raw Deal? Renegotiate a Better One: If you are stuck coping with a faulty contract, try renegotiation
Yahoo’s Tumblr Acquisition: A Risky Play for Relevance
Why You Should Limit Your Options
An excess of choices can not only impair your effectiveness at the bargaining table but also reduce your quality of life. In The Paradox of Choice, Barry Schwartz offers these strategies for limiting choice – and improving overall satisfaction:
Deal Making Without a Net: Yahoo’s Tumblr Acquisition
On May 19, Internet company Yahoo announced that it was purchasing the blogging service Tumblr for about $1.1 billion in cash. The acquisition could put a fresh face on the aging Internet company and provide it with a profitable revenue source—or it could turn out to be another instance of the Web pioneer overpaying for a start-up and failing to nurture it, as was the case after Yahoo bought Flickr and GeoCities.
How to DEAL with Threats
Our DEAL approach allows you to respond to threats without conveying weakness or escalating the conflict, redirecting talks toward a focus on each other’s interests.
How Power Affects Negotiators
According to Dacher Keltner of the University of California at Berkeley and his colleagues , power affects two primary neurological regulators of behavior: the behavioral approach system and the behavioral inhibition system. Powerful individuals demonstrate “approach related” behaviors such as expressing positive moods and searching for rewards in their environment.
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Articles & Insights
BATNA
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- “Confronting Evil” Panel Videos Now Available Online
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- Crisis Negotiations
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- BATNA for the Holidays? Program on Negotiation Co-Founders Bruce Patton and William Ury Discuss the ‘Fiscal Cliff’ with NPR
- Dealmaking
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- Dispute Resolution Using Online Mediation
- Meeting Facilitation
- Negotiation Skills
- Negotiation Training
- Register Now for the Program on Negotiation’s Negotiation and Dispute Resolution Seminar!
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- For Better Negotiation Training, Study the U.S. Government’s Mistakes
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- Pedagogy
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