Discover step-by-step techniques for avoiding common business negotiation pitfalls when you download, BATNA Basics: Boost Your Power at the Bargaining Table, a FREE special report from the Program on Negotiation at Harvard Law School.

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). See Also: Free Report: BATNA Basics, Negotiating for Continuous Improvement: Monitor and Assess Your Negotiation Skills, Dealmaking: Relationship Rules and Business Negotiations.

The following items are tagged BATNA

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What to Do When Your Batna is Not Good Enough?

Posted by & filed under BATNA.

The following question was featured in the “Ask the Negotiation Coach” section of the Negotiation Briefings newsletter, April 2010 issue. Question: What should I do when a negotiation seems to be all about price, I have no BATNA, and the other side knows it? … Read More 

Courses and Training

Negotiation and Leadership: Dealing with Difficult People and Problems

Posted by & filed under Executive Education Seminars (3 Day Courses), executive training.

Negotiation and Leadership Dealing With Difficult People and Problems Fall: December 5-7, 2016 Spring: April 18-20, 2017 | May 15-17, 2017 | June 19-21 2017

Become a More Effective Negotiator Great leaders are great negotiators. By equipping you with the innovative negotiation strategies you need to excel at the bargaining table, Negotiation and Leadership will help you:

Improve working relationships and resolve seemingly … Read More 

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Job Negotiation, The

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Jennie Hatch & Kessely Hong A three-party employment negotiation involving a mid-career student negotiating two job offers via email at the same time. … Read More 

Free Report

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Does Your Personality Impact Your Ability to be a Successful Negotiator?

Posted by & filed under Negotiation Skills.

Imagine that after some negative experiences at the bargaining table or if you are frustrated in your efforts to improve your negotiation skills, you’ve started to worry that you simply don’t have the right personality to be a great negotiator let alone a value-creating, integrative negotiations expert. The other party always seems to get the … Read More 

Courses and Training

Getting to YES with Yourself

Posted by & filed under 1 Day Courses, executive training.

What’s the greatest obstacle to successful agreements and satisfying relationships? The unexpected truth is that often we are. In this new, one-day program led by William L. Ury, co-founder of the Program on Negotiation and author of the new book Getting to Yes with Yourself (and Other Worthy Opponents), you’ll discover how to uncover and … Read More 

Product

Dioxin – Waste to Energy Game

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Denise Madigan, Steve Foster, and Lawrence Susskind Six-party, multi-issue negotiation among four scientists, a city representative, and an environmentalist to develop the city’s solid waste management strategy; also known as: Dioxin: Resource Recovery. … Read More 

Free Report

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Courses and Training

Negotiation and Leadership: Dealing with Difficult People and Problems

Posted by & filed under Executive Education Seminars (3 Day Courses), executive training.

It’s often said that great leaders are great negotiators. But how does one become an effective negotiator? On-the-job experience certainly plays a role, but for most executives, taking their negotiation skills to the next level requires outside training. Designed to accelerate your negotiation capabilities, Negotiation and Leadership examines core decision-making challenges, analyzes complex negotiation scenarios, … Read More 

Product

West Wind in Pine Hills

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A 2-participant, 2-issue, scorable negotiation between a wind company rep and a rural community rep about a proposed wind turbine project … Read More 

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Negotiating with the Ministry of Health

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Larry Susskind (MIT), Ona Ferguson, and Meredith Sciarrio Two, separate, two-person, non-scorable negotiations: one between Technical Co-chairs from the Center for Disease Control and USAID; the other between a CDC Technical Co-Chair and the Minister of Health in the imaginary host country of Sabada. … Read More 

Free Report

Harborco: Role-Play Simulation

Posted by & filed under Free Report.

Harborco is a consortium of development, industrial, and shipping concerns that are eager to proceed with the building of a new port, but face hurdles and potential opposition as they advance through the licensing process. The Federal Licensing Agency would like to see them work with other stakeholders to develop a project that is acceptable … Read More 

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Exercising Its BATNA, American Apparel Ousts Dov Charney

Posted by & filed under BATNA.

On June 18, 2015 the board of retailer American Apparel informed the company’s controversial founder, Dov Charney, that it was ousting him from his roles as chairman and CEO. For years, Charney had fended off sexual-harrassment lawsuits and rumors of inappropriate behavior. But only when the company’s creditors grew anxious about its long-term liability did … Read More 

Product

Negotiating with Another Federal Agency

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Larry Susskind (MIT), Ona Ferguson, and Meredith Sciarrio Two, separate, two-person, non-scorable negotiations: one between Technical Co-chairs from the Center for Disease Control and USAID; the other between a CDC Technical Co-Chair and the Minister of Health in the imaginary host country of Sabada. … Read More 

Free Report

Sally Soprano: Role-Play Simulation

Posted by & filed under Free Report.

Sally Soprano is a distinguished soprano who is now somewhat past her prime. She has not had a lead role in two years but would like to revive her career. The Lyric Opera has a production scheduled to open in three weeks, but its lead soprano has become unavailable. Lyric’s representative has requested a meeting … Read More 

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Negotiating About Pandas for San Diego Zoo

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Stephen Weiss and Sarah Tatrallyay This case study centers on the most challenging task for a negotiator: to reach a satisfactory agreement with a tough counterpart from a position of low power—and to do so in an uncommon context. The case concerns the executive director of a zoo in the U.S. who seeks two giant pandas, … Read More 

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What an Operatic Role-Play Simulation Can Teach You About Negotiation

Posted by & filed under Teaching Negotiation.

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 good … Read More 

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Consultant, The

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Two-party, multi-issue negotiation in which the parties are at an apparent impasse: the most one party can pay is substantially less than the least the other party can accept. … Read More 

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Negotiation Strategies for Mutual Gain

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This volume is a collection of essays which present key concepts and strategies intended to promote effective negotiation and mutually beneficial dispute resolution. This book is for people in all fields who need to deal with conflict and resolve issues on a continual basis. The book assumes that conflicts, managed well, can provide the impetus … Read More 

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Setting Standards in Negotiations

Posted by & filed under Salary Negotiations.

As the starting point from which all commercial transactions occur, from purchasing equipment to setting salaries, negotiation in business is an essential skill no matter what field a negotiator finds herself. Using an objective standard can strengthen your proposal and eliminate emotional bias. … Read More 

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Williams Medical Center

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Eileen Babbitt and Lawrence Susskind Five-party negotiation among representatives of pharmacists, physicians, nurses, and administrators to develop recommended changes to the drug prescription policy of a large metropolitan teaching hospital … Read More 

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Value Claiming in Negotiation

Posted by & filed under Negotiation Skills.

In most negotiations, we face two goals: claiming value and creating value. Value can be defined as anything you would like to get out a negotiation, whether it be more dollars, a consulting contract, a new rug, an end to conflict, and so on. … Read More 

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Welding Connection

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Marjorie Corman Aaron and Jim Lawrence Four-person grievance mediation among counsel for a welding company, a union representative, and a discharged employee over the legitimacy of the discharge, which was based on a positive drug test … Read More 

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Water on the West Bank

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Susan Podziba and Lawrence Susskind Seven-person, four-issue mediation among three Israeli water authority and regional representatives and three Palestinian water authority and political representatives over plans to drill a new well on the West Bank … Read More 

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Conflict and Negotiation Case Study: The Pitfalls of Negotiations Over Email

Posted by & filed under Conflict Resolution.

Negotiation research suggests that email often poses more problems than solutions when it comes to relationships, information exchange, and outcomes in conflict resolution negotiation scenarios. First, establishing social rapport via email can be challenging. The lack of nonverbal cues and the dearth of social norms regarding its use can cause negotiators to be impolite and … Read More 

Product

Trademore Personnel

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Lawrence Susskind and Bruce Patton Three-person, integrative, facilitated negotiation with two department heads and a Human Resources observer/facilitator regarding the possible transfer of an employee from one department to the other … Read More 

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TownCenter.com

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Eric Gould and Michelle Easter Two-party negotiation between a start-up company owner and a marketing firm over the potential sale of an internet domain name … Read More 

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Power in Negotiation: The Impact on Negotiators and the Negotiation Process

Posted by & filed under Negotiation Skills.

According to Dacher Keltner of the University of California at Berkeley and his colleagues, power in negotiation affects two primary neurological regulators of behavior: the behavioral approach system and the behavioral inhibition system. Powerful negotiators demonstrate “approach related” behaviors such as expressing positive moods and searching for rewards in their environment. … Read More 

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Three-Party Coalition Exercise

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Lawrence Susskind Short three-party scoreable negotiation among representatives of three organizations over the integrative and distributive aspects of a possible 2- or 3-party coalition … Read More 

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What is Negotiation?

Posted by & filed under Negotiation Skills.

Many people dread negotiation, not recognizing that they negotiate on a regular, even daily basis. Most of us face formal negotiations throughout our personal and professional lives: discussing the terms of a job offer with a recruiter, haggling over the price of a new car, hammering out a contract with a supplier. … Read More 

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Theotis Wiley

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Jake Erhard, under the supervision of Robert Bordone Two-party integrative negotiation between agents for a basketball player and a shoe manufacturer over a possible sneaker endorsement deal … Read More 

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Terminal Lighting Problems

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Marjorie Corman Aaron and JAMS/ Endispute Two-party integrative negotiation between a contractor and an airport client regarding the delayed installation of lighting fixtures … Read More 

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Worst Negotiation Tactics of 2015

Posted by & filed under Negotiation Skills.

Here are some of the worst negotiation tactics displayed during calendar year 2015 – from hard-bargaining, distributive negotiation strategies aimed at getting the whole pie to stonewalling strategies intended to stymy the development of a negotiated agreement. … Read More 

Product

Teflex Products

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Lawrence Susskind and James Lawrence Five-party, multi-issue negotiation among representatives of a pharmaceutical company, a medical drug manufacturer, and three consumer organizations over the delayed release of a new drug … Read More 

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Super Slipster

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Matt Smith under the supervision of Robert C. Bordone, with revisions by Michael Moffitt Two-party personal injury settlement negotiation between the attorney for the injured plaintiff and general counsel for the defendant toy manufacturing company … Read More 

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BATNA and Other Sources of Power at the Negotiation Table

Posted by & filed under BATNA.

BATNA negotiations involve a negotiators knowledge of her best alternatives to a negotiated agreement and are one of three sources of negotiating power at the bargaining table, according to negotiation researcher Adam D. Galinsky and New York University’s Joe C. Magee. … Read More 

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Social Services

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Denise Madigan Three-party scoreable negotiation among three non-profit social service providers over whether to apply for funding in a consortium of two or three; variation of Three-Party Coalition Exercise … Read More 

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10 Top Business Negotiations

Posted by & filed under Dealmaking.

Looking back on the past, 2013 witnessed a series of colorful mergers, acquisitions, and other deals. Here are the 10 top negotiations and negotiation trends of that year from which business dealmakers can learn. … Read More 

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Ship Bumping Case

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Andrew Clarkson Two-party international negotiation between Russian and U.S. negotiators over a naval incident; teams internally prepare instructions for a representative not involved in the preparation … Read More 

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Managing Difficult Negotiators

Posted by & filed under BATNA.

In negotiation, we are often confronted with the task of dealing with difficult people—those who seem to prefer to set up roadblocks rather than break down walls, or who choose to take hardline stances rather than seeking common ground. If you’re skilled in BATNA negotiations, you’ll have an easier time dealing with such people. … Read More 

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Sally Soprano II

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Wayne Davis, Mark N. Gordon and Bruce Patton Two-party integrative negotiation between agents for an opera singer and an opera house regarding a possible contract for an upcoming production, under conditions of full disclosure. … Read More 

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Managing a Multiparty Negotiation

Posted by & filed under Dealmaking.

Multiparty negotiations can be incredibly challenging. Just ask the negotiators from over 170 countries who managed to reach agreement on October 15 on a legally binding accord to combat climate change. … Read More 

Product

Rockwell Quarry

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Todd Bryan, Alexandra Mitchell, Hilary Collins, and Sarah Fordyce Bock Five-party, multi-issue negotiation among elected officials, property owners, and a gravel company over a permit for a gravel quarry in a recreationally valuable canyon … Read More 

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Radwaste II

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Tod Loofbourrow, Lawrence Susskind, Denise Madigan and Wendy Rundle Six-party, multi-issue negotiation among state and local government, enviromental, and industry representatives to select one of three sites for low-level radioactive waste disposal … Read More 

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Negotiation in Business Without a BATNA – Is It Possible?

Posted by & filed under BATNA.

In a negotiation scenario, you always have a best alternative to a negotiated agreement. Negotiation research and negotiation strategy helps negotiators find their BATNA, leverage it at the bargaining table, and illustrates the impact that knowing your BATNA has on a negotiation. … Read More 

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Radwaste I

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Tod Loofbourrow, Lawrence Susskind, Denise Madigan and Wendy Rundle Seven-party, multi-issue, scoreable negotiation among regulatory, environmental, tribal, local government, and industry representatives to choose criteria for selecting a low-level radioactive waste disposal site … Read More 

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10 Top Negotiation Examples

Posted by & filed under Negotiation Skills.

It never hurts to learn from the past. Here’s a recap of some of the most interesting and challenging negotiations from the past, featuring many of the world’s most famous negotiators. … Read More 

Product

PowerScreen Problem

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Bruce Patton, Mark Gordon and Andrew Clarkson Two-party integrative negotiation between the lawyers for business partners concerning the ownership of a new computer program one of them has developed … Read More 

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People v. Malvenue

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Ron Karp and Bruce Patton Two-party plea bargaining negotiation between a prosecutor and the court-appointed defender for a man accused of abusing his wife, who refuses to sign the complaint against him … Read More 

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Leadership in Crisis Negotiations

Posted by & filed under Leadership Skills.

Since the start of the global economic recession in 2008, few issues have proven as explosive as the Greek debt crisis. The Greek government’s commitment to repay billions of dollars in loans has been a source of contention with creditors ever since a sizable bailout was issued in 2010. … Read More 

Product

Ocean Splash

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The Consensus Building Institute, Inc. Two-party, two-issue scoreable negotiation between a charity and a corporate sponsor regarding the number and placement of advertising banners at a fundraising walk … Read More 

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New Crimea Prison Overcrowding Simulation

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Susan Podziba and Lawrence Susskind Eight-party, multi-issue negotiation among prison administrators, government leaders, criminal justice advocates, and prisoners’ rights advocates to develop recommendations for a comprehensive state policy to alleviate prison overcrowding … Read More 

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Top Ten Business Negotiation Articles

Posted by & filed under Business Negotiations.

Here are the top ten business negotiations articles on the Program on Negotiation website. Drawn from a variety of negotiation case studies as well as negotiation research, the following articles present negotiation examples in real life and offer strategies for engaging in integrative negotiations strategies aimed at creating win-win scenarios for each party at the … Read More 

Product

Negotiated Development in Redstone

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Lawrence Susskind and John Forester Two-party, two-issue scoreable negotiation between a developer and a neighborhood association representative regarding the development terms of a new condominium project … Read More 

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The Negotiation Process in China

Posted by & filed under International Negotiation.

With its booming economy and growing international consumer influence, the role of negotiation in international business is more important than ever and negotiation skills appropriate for China are in high-demand. Here are a few negotiation tips to help you successfully navigate your next round of business negotiations in China. … Read More 

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Nazi Party of America v. Town of Hokey

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Bruce Patton Two-party highly political negotiation between a lawyer for Nazi convention organizers and a town attorney a permit application for a Nazi Party parade in a Jewish neighborhood … Read More 

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Negotiating Around a Bad BATNA

Posted by & filed under BATNA.

Don’t assume your public statements will win over a reluctant negotiator. Know when it’s best to move on and make the most of your current situation. … Read More 

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Mountain View Farm

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Roger Fisher and Andrew Clarkson Two-party, multi-issue integrative negotiation between a farmer and a neighbor over the sale or lease of part of the neighbor’s land … Read More 

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Monroe Energy Assistance Game I

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Allan Morgan and Lawrence Susskind Six-party, four-issue negotiation among representatives of consumer groups, political leaders, and public utilities to develop a statewide energy assistance plan for low-income residents … Read More 

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Take your BATNA to the Next Level

Posted by & filed under BATNA.

If your current negotiation reaches an impasse, what’s your best outside option? Most seasoned negotiators understand the value of evaluating their BATNA, or best alternative to a negotiated agreement, a concept that Roger Fisher, William Ury, and Bruce Patton introduced in their seminal book, Getting to Yes: Negotiating Agreement Without Giving In (Penguin, 1991, second … Read More 

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Meridia and Petrocentram

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Abram Chayes and Antonia Handler Chayes Two-party, four-issue negotiation between representatives of a Central American country and an international petroleum corporation over the terms of an offshore drilling project … Read More 

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MAPO – Administration Negotiation

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Mark Gordon, Elizabeth Gray, Tim Rieser, and Lynn Gerber Two-team, multi-issue collective bargaining negotiation between three police union representatives and three municipal representatives over police salaries, benefits, and working conditions … Read More 

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Least-Cost Planning Exercise

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Clinton Andrews and Lavinia Hall Six-party, multi-issue mediation among electric utilities, consumer interests, environmentalists, and mediator with technical expertise, over the best way to meet increased demands for electricity … Read More 

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Your BATNA and How to Achieve Optimal Outcomes in Negotiations

Posted by & filed under BATNA.

The following question was posed to Program on Negotiation faculty member and associate professor of business administration at Harvard Business School in the Negotiations, Organizations & Markets Unit, Francesca Gino and involves a negotiation example from real life from the world of business negotiations. … Read More 

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Law Library, The

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John Palenberg, Elizabeth Gray, Deborah Winter, and Wayne Davis Two-party negotiation between representatives of two law firms over the sale of a collection of law books … Read More 

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How to Control Your Emotions in Conflict Resolution

Posted by & filed under Conflict Resolution.

To guard against acting irrationally or in ways that can harm you, authors of Beyond Reason: Using Emotions As You Negotiate Roger Fisher and Daniel Shapiro advise you to take your emotional temperature during a negotiation. Specifically, try to gauge whether your emotions are manageable, starting to heat up, or threatening to boil over. … Read More 

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Lake Wasota Fishing Rights

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Denise Madigan, Tod Loofbourrow with teaching notes by Eileen Babbitt and Lawrence Susskind Six-party, six-issue, scoreable negotiation among representatives of tribal, state, federal, recreation, and business interests over fishing rights in a large lake … Read More 

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Repairing Relationships Using Negotiation Skills

Posted by & filed under Dispute Resolution.

Negotiation is not only something we do at work; often the toughest negotiations we encounter are in our personal lives. Some of the most successful negotiation examples of the power of negotiation skills in dispute resolution is when they repair relationships between friends. … Read More 

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Kelly Corporation, The

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Ron Karp and Bruce Patton Three-party brief negotiation among a supervisor and two employees who are each asking for a raise … Read More 

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Making the Most of an Unappealing BATNA

Posted by & filed under BATNA.

In business negotiations, we tend to assume that it’s the more financially successful party that has an edge. But if that party has a weak BATNA, or best alternative to a negotiated agreement, it could be the seemingly weaker party that comes out on top. … Read More 

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Kaotian Crisis

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Bruce Patton Two-team, ten-party international crisis negotiation between U.S. and “Kaotian” military and security officials to address Kaotian seizure of an American vessel and the ensuing military crisis … Read More 

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Guatemala Role Play, The

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Michael Maturo, Kate Mahoney, Francisco Ingouville and Anthony Wanis St. John, under the direction of David Fairman Six-person mediated negotiation among representatives of the Guatemalan government, military, rebel groups, indigenous people, and U.S. government to address post-armed-conflict human rights, land claims, and cultural and political rights issues … Read More 

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Bargaining at a Fever Pitch

Posted by & filed under Leadership Skills.

Have you ever won an auction only to realize later that you overbid for the prize? In competitive bidding situations, it’s easy to get carried away in the heat of the moment and overpay. The Boston Red Sox 2006 procurement of Japanese pitching phenomenon Daisuke “Dice-K” Matsuzaka offers a lesson in keeping cool in these … Read More 

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GE International Contract

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Duncan MacLaren; adapted from The Tendley Contract Two-party potentially integrative contract negotiation between representatives of a large corporation and a consulting firm over very different expectations of the cost of services … Read More 

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Top 10 Negotiation Skills

Posted by & filed under Negotiation Skills.

Increasingly, business negotiators recognize that the most effective bargainers are skilled at both creating value and claiming value—that is, they both collaborate and compete. The following 10 negotiation skills will help you succeed at integrative negotiation. … Read More 

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Fishladder Claim

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Susan Podziba and Lawrence Susskind Three-party, two-round internal negotiation among agency officials over whether to litigate or pursue non-binding arbitration to settle a contract claim against a private contractor … Read More 

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First City Bank and the Press

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Jeffrey Litwak and Lawrence Susskind Six-party negotiation among lending institution representatives, community leaders, a contractors’ association, and the mayor’s office to develop a public relations strategy and solutions to a foreclosure crisis caused by a widespread mortgage scam … Read More 

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Negotiation Examples to Help You Become a Better Mediator

Posted by & filed under Teaching Negotiation.

When opposing parties cannot come to a satisfactory resolution, a strong mediator can make all the difference. By effectively examining the issues at hand and helping parties identify creative solutions, a well-trained mediator builds consensus where there once was none. To help professionals learn the art of mediation, the Program on Negotiation’s Teaching Negotiation Resource Center … Read More 

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Farrakhan Negotiation, The

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Eric Collins Five-person, multi-issue negotiation among university administrators and student organizers over cost and arrangements for a controversial figure to speak on campus … Read More 

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Ellsworth v. Ellsworth

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Frank Sander and William Ury Two-party, multi-issue negotiation between lawyers for a divorcing couple over the terms of the divorce, including alimony, child support, and income tax issues … Read More 

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Negotiation Games

Posted by & filed under Conflict Resolution.

Going to trial, it’s said, is like rolling the dice. In this article, we discuss what negotiators need to be aware of before heading to the court room. … Read More 

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Eazy’s Garage

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Bruce Patton (adapted by Sheila Heen) Four-party, two-stage negotiation between an auto mechanic and a client and their respective attorneys over a disputed repair bill; first stage involves lawyer-client interviews and second stage involves negotiation … Read More 

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Discount Marketplace and Hawkins Development

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Lawrence Bacow Two-party negotiation between a shopping center developer and a prospective anchor tenant over the terms of the proposed lease’s “use, assignment, and subletting” clause … Read More 

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Dirty Laundry

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Pat Aaron Three-person mediated small-claims dispute between a dry cleaning business and a customer over compensation for torn shirts … Read More 

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Deke Slims’ Silver Dollars

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Ron Karp and Bruce Patton Three-person distributive exercise consisting of two separate two-party negotiations between the representative of an estate and two separate coin dealers over the price of a silver coin collection large enough to affect the silver market … Read More 

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DEC v. Riverside

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David Lax, James Sebenius, Lawrence Susskind, and Thomas Weeks Two-party, multi-issue, scoreable negotiation between a manufacturer and a state environmental agency to reach a settlement over the manufacturer’s pollution of a local river … Read More 

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Costless Warehouse

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Joe Voyticky Four- or five-person negotiation to settle an employee’s claim of discriminatory firing and employer’s claim of illegal conduct; negotiators represent each party, with optional fifth role who knows confidential details of each party’s case … Read More 

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Contract Negotiations in the Building Trades

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Lawrence Susskind Nine-party, multi-issue contract negotiation among three coalitions involved in the building trades; includes internal coalition meetings before the external negotiations … Read More 

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Using Negotiation Games to Develop Skills for Commercial Dispute Resolution

Posted by & filed under Teaching Negotiation.

Private sector or commercial negotiations can range from relatively straightforward, high-stakes contract negotiations between suppliers and distributors to complex, multiparty negotiations between government, industry, and other interest groups. By honing their skills and more effectively engaging in negotiations, firms can positively influence their bottom line. Likewise, government officials and other stakeholders will achieve better outcomes … Read More 

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Construction in Bunyonville

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Bruce Patton Six-person, multi-issue mediation between two construction company representatives and two neighborhood residents over a construction project’s safety and noise issues; mediated by two representatives of the bank financing the construction … Read More 

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The Importance of Power in Negotiations

Posted by & filed under Dispute Resolution.

In negotiation, our success often hinges on our bargaining power—which in turn can depend on forces beyond our control. That truism was highlighted in two recent disputes arising from business negotiations over the pricing of copyrighted material in the digital era, one from the music world, the other from publishing. … Read More 

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Colortek Job

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Deborah Kolb Two-party, multi-issue integrative negotiation between a corporate VP and a prospective employee over salary and other terms of hire … Read More 

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Star Wars Stories: George Lucas and a Strong BATNA, Passed Over

Posted by & filed under BATNA.

In negotiation, your best source of power is typically your best alternative to a negotiated agreement, or BATNA. When you are aware that you have an appealing alternative deal to the one you’re working on, you will be less tempted to accept an agreement that doesn’t meet your minimum requirements. A strong BATNA gives you … Read More 

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Chestnut Drive

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Bruce Patton and Mark Gordon Six-party, multi-issue, intra-group negotiation among neighbors in preparation for an external negotiation regarding a local construction project … Read More 

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Changing Times for the Senior Center in Redwood Hills

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Connie Ozawa Multi-party, multi-issue facilitated negotiation for five or six players representing civic and business leaders and owner of a senior center regarding the expansion of other groups’ use of the center … Read More 

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Carter Estate Problem, The

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Mark Drooks, Andrew Tavel, Kenneth Hyatt, Mark Gordon, and Bruce Patton Two-party, multi-issue integrative negotiation between brothers over the settlement of their father’s estate … Read More 

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In Platform Negotiations with Clinton, Sanders Was Victorious

Posted by & filed under BATNA.

With the 2016 Democratic National Convention now over, Vermont senator Bernie Sanders used the Hillary Clinton campaign’s fear of a divisive spectacle in Philadelphia to extract concessions on the party’s official platform and committee assignments. The senator’s tough dealmaking suggests an important negotiation lesson: Always know your BATNA and ZOPA in any negotiation. … Read More 

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Bunyon Brothers

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Mark Gordon, Elizabeth Gray, and Bruce Patton Three-party, multi-issue internal corporate negotiation in preparation for external negotiation with community representatives … Read More 

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Bullard Houses

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Ron Karp, David Gold and Mox Tan Two-party, multi-issue real estate negotiation between representatives for a buyer and seller, where BATNAs are important … Read More 

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10 Negotiation Failures

Posted by & filed under Negotiation Skills.

Here’s a list of some of the most notable negotiation flops – from deals that were over before they started, to those that were botched at the table, to those that proved disastrous well after the ink had dried. … Read More 

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Broken Benches

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Author(s): Marjorie Corman Aaron and JAMS/Endispute Four-person mediation and/or arbitration of a personal injury claim, among plaintiff, plaintiff’s lawyer, and counsel for defendant’s insurance company; arbitrator roles include possible plaintiff or defense bias … Read More 

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How to Predict a Negotiator’s Decisions

Posted by & filed under Dealmaking.

Improving your negotiation skills can only take you so far – eventually you need to assess you behavior preferences as a negotiator. Being able to predict how you will behave in a given bargaining scenario will help you augment the negotiation training you have received as well as help you achieve better outcomes at the … Read More 

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Bradford Development

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Two-party, single-issue distributive negotiation over a linkage payment that a developer must make to a city government; includes ethical issues … Read More 

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The Leadership Skills of Late Night

Posted by & filed under Leadership Skills.

Selecting the right person for a challenging job is often more than just a hiring decision. It’s a negotiation. Doing it well requires exceptional leadership skills. Nowhere is this clearer than in late night television. Last year, Jay Leno left The Tonight Show. … Read More 

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Book Contract, The

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Two-party, single-issue distributive negotiation between a publisher and a literary agent over the advance payment for the agent’s unpublished but very promising client … Read More 

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Big Pipeline in Swagwit

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Kelly Davenport, Pat Field and Lawrence Susskind Two-party, two-issue integrative negotiation between representatives of a construction company and a Native American group regarding allocation of construction jobs … Read More 

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Impact of Leadership Styles on Strategic Decisions: Taylor Swift and Apple Music at the Negotiation Table

Posted by & filed under Leadership Skills.

When Apple Inc. announced plans to step into the market for streaming audio, it had no idea what was waiting for it. To do it, the company negotiated countless agreements with musicians and studios. How someone can take charge of so many complex negotiations with musicians and studio executives begs the question, what is leadership … Read More 

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Bankruptcy Multiparty Negotiation Simulation

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James Emerson with Ben Longoria, under the supervision of Professors Robert Mnookin and Lawrence Susskind This exercise is a six-party simulation of multiparty negotiations in a bankruptcy (reorganization) and mass torts context. The simulation represents a … … Read More 

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Bakra Beverage

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Dan Vogel, under the supervision of Robert Bordone and Gillien Todd … Read More 

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Negotiation Examples in Business: Ethics, Bias, and Bargaining in Good Faith

Posted by & filed under Business Negotiations.

As we’ve discussed in previous articles about negotiation examples in business, a negotiator’s beliefs concerning negotiation ethics are affected by cognitive biases. 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. … Read More 

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Arms Control on Cobia

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P. Terrance Hopmann Multi-issue arms control negotiation among representatives of eight fictional countries … Read More 

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MESO Negotiation: Learn from a Seller’s Market

Posted by & filed under Dealmaking.

What negotiating skills and negotiation tactics can negotiators take away from hyper competitive bargaining situations? With home sales heating up (again) in some parts of the United States, homebuyers are facing competition they haven’t seen since before the real-estate bubble burst back in 2008, and it’s showing up in the form of packed open houses, … Read More 

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Aerospace Investment

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Nicholas Sabin Two-party term sheet negotiation between a venture capitalist and the founder of an aerospace start-up company in which participants are scored both on their substantive performance and on the other party’s perception of the relationship … Read More 

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Ad Sales, Inc.

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Lawrence Susskind Six-party, multi-issue contract negotiation between management and union members of a publishing firm … Read More 

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5 Tips for Improving Your Negotiation Skills

Posted by & filed under Negotiation Skills.

The prospect of boosting our negotiation skills can be so overwhelming that we often delay taking the necessary steps we can follow to improve, such as taking time to prepare thoroughly. The following five guidelines will help you break this daunting task into a series of manageable—and often essential—strategies. … Read More 

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Rushing River Cleanup

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Bruce Patton Three-party, scoreable, single-issue negotiation among three manufacturers over two- or three-party coalitions for complying with waste cleanup regulations; variation of Three-Party Coalition Exercise … Read More 

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Dealmaking Negotiations – Writing the Negotiated Agreement

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Some negotiations end with a negotiated agreement that is a plan of action rather than a signed contract – for example, a plumber agrees to fix the tile damage caused by his work. Other negotiations wouldn’t be appropriate to commemorate in writing, such as how you and your spouse decide to discipline your young … Read More 

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Parking Facility Venture

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Three-party scoreable negotiation among three firms regarding the joint construction of an off-street parking facility; variation of “Three-Party Coalition” … Read More 

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Parker-Gibson

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Two-party, single-issue distributive negotiation between two neighbors regarding the potential sale of a vacant lot; refinement of Appleton-Baker … Read More 

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Negotiation Examples in Real Life: BATNA and Negotiation Scenarios Where Alternatives are Preferable to Negotiated Agreements

Posted by & filed under BATNA.

One of the most popular questions concerning negotiation strategy and an area of negotiation research that draws heavily on negotiation examples in real life is how do negotiators identify their BATNA, or best alternative to a negotiated agreement, and even better, how do they identify their counterpart’s BATNA? Consider the saga of a company that … Read More 

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Managing Growth in Rockville

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Armand Ciccarelli and Lawrence Susskind Seven-person, multi-issue mediation among business, planning, environmental, and agricultural interests regarding growth management and comprehensive planning … Read More 

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Are You Your Own Worst Enemy?

Posted by & filed under Teaching Negotiation.

Q&A with William Ury, author of the new book, Getting To Yes With Yourself We recently interviewed William Ury, co-founder of Harvard’s Program on Negotiation, one of the world’s leading experts on negotiation, and bestselling author of Getting to Yes and Getting Past No, about his new book, Getting To Yes With Yourself. Great negotiators know that … Read More 

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Jerry

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Ron Karp and Bruce Patton Two-party conversation between an employee and his supervisor regarding the employee’s recent poor job performance and potential termination … Read More 

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Global Impact Negotiation Simulation

Posted by & filed under Teaching Negotiation.

International law and diplomacy is a rapidly evolving field that depends on the brokering of agreements between nations and other stakeholders. Whether there are language barriers, cultural differences, or both, some of the most challenging negotiations involve parties from different nations. Because of the relative lack of clear legal precedents and the difficulties of enforcement, … Read More 

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Jefferson Hazardous Waste Negotiation

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Vicki Arroyo and Lawrence Susskind Eight-party, five-issue negotiation among community, environmental, business, and government interests over the formulation of a statewide hazardous waste siting policy … Read More 

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For Modern Farmer Magazine, a Bad BATNA

Posted by & filed under BATNA.

In business negotiations, our mistakes sometimes end up affecting not only the current deal, but our best alternative to a negotiated agreement, or BATNA, in deals that lie down the road. That’s a lesson that Ann Marie Gardner, the founder and editor of the hip new magazine Modern Farmer, has learned the hard way. … Read More 

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Eazy’s Garage

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Bruce Patton Two-party negotiation between lawyers for an auto mechanic and a customer over a disputed auto repair bill … Read More 

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Chestnut Village

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Thomas Wiegand Multi-party, multi-issue negotiation between 3-4 construction company representatives and 5-6 neighborhood representatives over safety and nuisance complaints regarding a local construction project; internal team meetings precede external negotiations … Read More 

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Casino

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Sheila Heen, Scott Peppet and John Richardson Two-party intra-organizational discussion between a newly-promoted manager and her division vice-president over work performance, responsibility for a new computer game project, and office environment issues … Read More 

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How to Find the ZOPA in Business Negotiations

Posted by & filed under Business Negotiations.

In business negotiation, two polar-opposite errors are common: reaching agreement when it wouldn’t be wise to do so, and walking away from a mutually beneficial outcome. How can you avoid these pitfalls? Through careful preparation that includes an analysis of the zone of possible agreement, or ZOPA. The agreement trap The “agreement trap” describes the tendency to agree … Read More 

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Axis Affair

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Anita Ramasastry and Erin Monaghan Two-party negotiation between attorneys for a male executive and a recently terminated female employee regarding allegations of sexual harassment and gender discrimination … Read More 

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How a Bad BATNA Keeps Medicare Drug Prices High

Posted by & filed under Business Negotiations.

Republican presidential candidate Donald Trump disagrees with his Democratic competitors, Hillary Clinton and Bernie Sanders, on most political issues. But on the issue of prescription drug prices under Medicare, Trump agrees with Clinton and Sanders that the U.S. government is getting a lousy deal. Recently, Trump, Clinton, and Sanders have all called for the government to … Read More 

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Bamara Border Dispute

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Michael D. Landry Two-team, multi-issue negotiation between representatives of two fictional countries regarding a disputed border and a military stand-off … Read More 

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Global Management of Organochlorines

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Lawrence Susskind, Sarah McKearnan, Mike Gordon, Adil Najam, Joshua Secunda, Granville Sewell, Parag Shah and Andrea Strimling Thirteen-person, multi-issue facilitated negotiation among eight country representatives, four NGO representatives, and a working group chairperson must draft a treaty aimed at reducing harmful organochlorines; also known as “Chlorine Game” … Read More 

Daily

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Blender, The

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Bruce Patton Two-party, single-issue negotiation between a customer and a department store clerk about the return of a defective blender … Read More 

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With Patient Approach, FBI Steered Oregon Occupiers Toward Their BATNA

Posted by & filed under BATNA.

The 41-day armed takeover of the Malheur National Wildlife Refuge in Oregon ended on February 11 when the last occupiers surrendered. Federal authorities in six states also arrested seven others accused of being involved in the occupation, according to the Associated Press. The standoff had begun when Ammon Bundy and his followers took over the … Read More 

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67 Fish Pond Lane

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Elizabeth Gray, Mark Gordon and Bruce Patton Two-party distributive and potentially integrative negotiation between principals over the sale of a house … Read More 

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Best-In-Class Negotiation Case Studies

Posted by & filed under Teaching Negotiation.

What’s one of the best ways to teach the art and science of negotiation? Case studies and articles that spark lively discussion or facilitate self-reflection. Based on real-world examples, these teaching resources are designed to help students envision how to apply what they’ve learned in the classroom and beyond. The Teaching Negotiation Resource Center (TNRC) at … Read More 

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Sally Soprano I

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Norbert Jacker and Mark Gordon Two-party integrative negotiation between agents for an opera singer and an opera house regarding a possible contract for an upcoming production … Read More 

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The High Cost of Bad Advice at the Negotiation Table

Posted by & filed under BATNA.

If you’re thinking about buying a house, one of your first moves may be to choose a real estate agent who can advise you through the process. If you want a big-name publisher to buy your book, you probably will try to sign on an experienced literary agent as your counselor and advocate. Less formally, … Read More 

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Bentley Convertible

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Roger Fisher and Bruce Patton Two-party distributive negotiation over the sale of a rare automobile … Read More 

Daily

Daily

In Negotiations with Ben Affleck, No Appealing BATNA

Posted by & filed under BATNA.

In negotiation, your best source of power is typically your best alternative to a negotiated agreement, or BATNA. Having a strong outside alternative enables you to walk away from a deal that doesn’t meet your needs or that would compromise your vision or ethics. But when you are dealing with a negotiating partner who seems irreplaceable, … Read More 

Daily

Top 10 Celebrity Negotiations of 2015

Posted by & filed under Negotiation Skills.

Here are the top 10 celebrity negotiations from the year 2015. From integrative bargaining strategies to building bridges with counterparts in contentious talks, these negotiation scenarios demonstrate the effectiveness of collaborative, win-win negotiation tactics. … Read More 

Daily

Win-Win Negotiation with Bethenny Frankel

Posted by & filed under Business Negotiations.

In this negotiation scenario straight from reality television, Lu Ann de Lesseps, Ramona Singer, and Sonja Morgan test their negotiating prowess against reality tv network Bravo in their contract renewal renegotiations. Skinnygirl mogul and financial whiz kid, Bethenny Frankel, offers a template for bargaining for success on reality tv and beyond. … Read More 

Daily

Advanced Negotiation Strategies and Concepts Using Negotiation Examples from Real Life: Hostage Negotiation Tips for Business Negotiators

Posted by & filed under Conflict Resolution.

Upset by a delay in the delivery of one of your products, a longtime buyer threatens to turn to the media unless you meet his extreme demands. Not only is the relationship in jeopardy, but your company’s reputation seems to be as well. What should you do? Turn to some tried and true hostage negotiation … Read More 

Daily

Crossed Wires? Negotiation Games To Help Your Business Deal Sidestep Legal, Technical And Emotional Glitches

Posted by & filed under Teaching Negotiation.

What’s faster than the pace of technological development? The pace of lawsuits being filed about the adoption of new technologies, patent infringement, and intellectual property rights. In our modern world, professionals must be able to resolve highly challenging technology-related disputes – often before they reach the courtroom. That’s where the Program on Negotiation’s Teaching … Read More 

Daily

Daily

Gender Discrimination: How to Reach a Negotiated Agreement

Posted by & filed under Teaching Negotiation.

As you know, gender stereotypes often enter the negotiation process. Women and men are perceived to, and often do, act differently in negotiations. Furthermore, gender-based discrimination—such as less pay, unequal treatment, and sexual harassment—is often a source of conflict. With the resources available through the Teaching Negotiation Resource Center (TNRC), professionals can learn how to … Read More 

Daily

VIDEO: William Ury on “Getting to Yes with Yourself”

Posted by & filed under Negotiation Skills, Videos.

On January 22nd, 2015, the Program on Negotiation was pleased to welcome back William Ury to Harvard Law School. Ury, a founding member of the Program on Negotiation and co-author of the seminal book Getting to Yes, spoke about his latest book, Getting to Yes with Yourself (and Other Worthy Opponents). Over 250 community members, students, … Read More 

Daily

Deal Negotiation and Dealmaking: What to Do On Your Own

Posted by & filed under Dealmaking.

Six negotiation skills tips for negotiators seeking to creative value during their next round at the bargaining table. Business negotiators are often faced with the complex task of coordinating multiple parties – here are some tips for the individual business negotiator on how to achieve success in her next deal negotiation. … Read More 

Daily

Tough Negotiation Tips from Jennifer Aniston?

Posted by & filed under Negotiation Skills.

Fans of the television show Friends got a treat last month when Netflix made all 236 episodes of the blockbuster hit available to stream online. At first glance actors Lisa Kudrow, Jennifer Aniston and the rest of the star-studded cast might not be your first pick to peg as formidable negotiators, but at the height … Read More 

Daily

Daily

Daily

For Bank of America, Dealmaking to Turn the Page

Posted by & filed under Dealmaking.

Negotiation often marks a new beginning: of a partnership, a project, or employment relationship. At other times, the goal of dealmaking is as much about reaching an ending as it is about moving forward. That’s the attitude with which Bank of America wrapped up its settlement negotiations with the Department of Justice (DOJ) last month. For … Read More 

Daily

Daily

Bullard Houses Role-Play Simulation Helps Researchers Explore Gender Inequality

Posted by & filed under Teaching Negotiation.

In a recent Slate.com article, writer and PhD in Psychology Jane Hu described the findings of a research study by Professor Laura J. Kray, University of California, Berkeley. Kray, along with co-authors Jessica Kennedy, PhD, and Alex Van Zant, PhD, investigated the role gender played in negotiation and focused specifically on whether the stereotype of … Read More 

Daily

Daily

Daily

Dealing with Difficult People? Lessons from Ronald Reagan

Posted by & filed under Conflict Resolution.

In recent months, U.S. President Barack Obama and other world leaders have struggled to find a winning strategy to convince Russian President Vladimir Putin to back away from his aggressions toward Ukraine. In a Wall Street Journal editorial, Ken Adelman, U.S. President Ronald Reagan’s ambassador to the United Nations and arms-control director, writes that recently … Read More 

Daily

For Detroit Pensioners, Dispute Resolution Pays Off

Posted by & filed under Dispute Resolution.

On April 15, Detroit city employees and retirees breathed a huge sigh of relief after the city’s emergency manager and its pension fund managers reached a deal that would significantly reduce proposed cuts to pension benefits, CNNMoney reports. Some civilian workers will face a 4.5% reduction in pensions and lose cost-of-living adjustments. Retired public-safety workers … Read More 

Daily

Daily

Searching for a Debt Ceiling: Boehner’s Uncertain BATNA

Posted by & filed under BATNA.

As the U.S. government approaches a potentially catastrophic default on its debt in October, President Obama remains determined to avoid negotiations with Republican leaders on the issue, the New York Times reports, a situation that leaves House of Representatives Speaker John Boehner with an uncertain BATNA, or best alternative to a negotiated agreement. … Read More 

Daily

Choosing When to Choose

Posted by & filed under Negotiation Skills.

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. … Read More 

Daily

Daily

Bring Your Deal Back from the Brink: Probe the Other Side’s Point of View

Posted by & filed under Business Negotiations.

How can you figure out the motives behind someone’s seemingly stubborn position? Begin by questioning her about the problem she is trying to solve. Deal blockers may be held back by financial, legal, personal, or other constraints you don’t know about, according to Harvard Business School professor Deepak Malhotra. A tough stance could also communicate … Read More 

Daily

Crisis Negotiations – Rolling the Dice in Court

Posted by & filed under Negotiation Skills.

Going to trial, it’s said, is like rolling the dice. That proved true when an exasperated federal judge, the Honorable Gregory A. Presnell, ordered litigants to play a game of Rock Paper Scissors if they could not privately resolve their differences over a procedural issue. The lawyers were stalemated on where to depose a witness … Read More 

Daily

Winning at “Win-Win”

Posted by & filed under Daily, Negotiation Skills.

Lawrence Susskind (Ford Professor of Urban and Environmental Planning, Massachusetts Institute of Technology) “Win-win” has become a popular term in the field of negotiation, but many people have mis-perceptions about what it actually means. In this blog post, Professor Lawrence Susskind, a member of PON’s Executive Committee, clarifies that a “win-win” negotiated outcome is … Read More 

Daily

Get Ready for Team Talks

Posted by & filed under Daily, Mediation.

Adapted from “Strength in Numbers: Negotiating as a Team,” by Elizabeth A. Mannix (professor, Cornell University), first published in the Negotiation newsletter, May 2005. The widespread belief in “strength in numbers” suggests that having more players on your team should be a benefit, not a burden. But this belief can lead team members to underprepare … Read More 

Daily

Why Classic Cases?

Posted by & filed under Daily, Negotiation Skills, Pedagogy at the Program on Negotiation (Pedagogy @ PON).

Why are some negotiation exercises still used in a great many university classes even twenty years after they were written? In an effort to understand more about the enduring quality of some classic teaching materials, we asked faculty affiliated with PON to explain why they think some role play simulations remain bestsellers in the Clearinghouse … Read More 

Daily

Find Strength in Numbers

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Make Your Weak Position Strong,” by Deepak Malhotra (professor, Harvard Business School), first published in the Negotiation newsletter. A common complaint among managers and executives who attend negotiation courses and seminars is that they don’t learn enough about negotiating from a position of weakness. What can you do when you have a weak BATNA, … Read More 

Daily

Keeping Your Options Alive

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Better or Best: Keeping Your Options Open,” by Michael Wheeler (professor, Harvard Business School), first published in the Negotiation newsletter. Jim, a well-regarded residential developer operating outside Philadelphia, has been scouting around for a site for his next project. Two properties seem promising. The Abbott estate consists of 75 acres of woodlands and some … Read More 

Daily

When Does Personality Matter?

Posted by & filed under Daily, Negotiation Skills.

Adapted from “When Tough Talk Is Beside the Point,” by Hal Movius (instructor, The Program on Technology Negotiation, Program on Negotiation, Harvard Law School), first published in the Negotiation newsletter. Most of us intuitively believe that personality traits such as toughness matter a great deal in negotiation. Yet studies by Bruce Barry and Raymond Friedman of … Read More 

Daily

Questioning threats

Posted by & filed under Daily, Negotiation Skills.

Adapted from “How to Defuse Threats at the Bargaining Table,” by Katie A. Liljenquist (professor, Brigham Young University) and Adam D. Galinsky (professor, Northwestern University), first published in the Negotiation newsletter. Sooner or later, every negotiator faces threats at the bargaining table. How should you respond when the other side threatens to walk away, file a … Read More 

Daily

Dealing with pharmaceutical delays

Posted by & filed under Business Negotiations, Daily.

The Clearinghouse at PON offers hundreds of role simulations, from two-party, single-issue negotiations to complex multi-party exercises. Teflex Products is a five-party, multi-issue negotiation among representatives of a pharmaceutical company, a medical drug manufacturer, and three consumer organizations over the delayed release of a new drug. SCENARIO: Midland Pharmaceutical Company has developed Renaid, a breakthrough drug that … Read More 

Daily

When “fairness” is a distraction

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Accept or Reject?” by Deepak Malhotra (professor, Harvard Business School), first published in the Negotiation newsletter.

Negotiators usually have strong feelings about fairness. Unfortunately, our fairness perceptions tend to be biased in a self-serving manner. Research has shown that, at the end of a negotiation, most people feel they were more cooperative … Read More 

Daily

Gain greater leverage with sole suppliers

Posted by & filed under Business Negotiations, Daily.

Adapted from “Negotiating with Sole Suppliers,” by David Lax (managing principal, Lax Sebenius LLC), first published in the Negotiation newsletter. Negotiators often wonder how to do business with sole suppliers who know they don’t have any real outside alternative and who take advantage of this. Without the power of a realistic best alternative to a negotiated … Read More 

Daily

Powerful Thoughts

Posted by & filed under Business Negotiations.

For many people, thinking about the role of power in negotiation can be paralyzing. In fact, the same people who are anxious about negotiating in general tend to be anxious about exerting their power during negotiation. Why? Perhaps because most of us realize that power, even when not explicitly discussed, is often the precipitating and … Read More 

Daily

Too much commitment?

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Are You Overly Committed to the Deal?” First published in the Negotiation newsletter. A telecommuter hires a carpenter to build a workstation for her home office. The carpenter’s contract requires payment of 50% upon signing, an additional 30% halfway through the job, and the final 20% upon completion. When the job is done, … Read More 

Daily

“Are We Exclusive?”

Posted by & filed under Business Negotiations.

Ron McAfee, a carpenter and roofing expert, spent considerable time working with a condominium association on the design of a new roof deck. After gaining agreement on the proposed layout, design, and materials, McAfee submitted a written bid of $12,500. One of the board members subsequently showed McAfee’s plans to another roofer, who offered to … Read More 

Daily

Negotiating When Business and Family Collide

Posted by & filed under Daily, Mediation.

Basic negotiation skills may seem easy to apply in business situations but what about when business and family collide? For example, a 69-year-old CEO of a large financial firm that has been in his family for three generations is considering retirement. He has three children who may be interested in taking over the business in addition … Read More