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 Writing the Negotiated Agreement 
Discover step-by-step techniques for avoiding common business negotiation pitfalls when you download a copy of the FREE special report, Business Negotiation Strategies: How to Negotiate Better Business Deals, from the Program on Negotiation at Harvard Law School.
business negotiation skills
What are Business Negotiation Skills?
It’s often said that great leaders are great negotiators. That’s one reason that improving your business negotiation skills is so important.
Our business negotiation skills can help us reach a win-win negotiation where both sides are satisfied with their agreement, and the odds of a long-lasting and successful business partnership are much higher. Those skills may include anything from how you prepare for a negotiation to how you frame the deal to more subtle skills, such as how well negotiators’ personalities complement one another.
Some more “concrete” business negotiation skills that we can learn or improve upon include construction of a strong BATNA, or best alternative to a negotiated agreement, understanding the power of MESOs, or multiple equivalent simultaneous offers, and thorough preparation, not to mention familiarity with laws, ethics, and structuring a solid agreement.
One of the business negotiation skills that is often overlooked is an understanding of fairness when negotiating. Psychologist David Messick has found that people commonly choose among fairness norms based on their self-serving desire for more. That is, our greed determines how we define fairness in a given situation.
Of all the business negotiation skills, however, one of the most important is looking for a win-win outcome. Consider that people tend to view negotiation as a competition between parties fighting over the biggest piece of a “fixed pie.” Even when negotiators prefer the same outcome, they tend to believe that the other side’s interests are opposed to their own.
But in a win-win negotiation, when both sides are satisfied with their agreement, the odds of a long-lasting success are much higher. Finding your way to a win-win negotiation often involves reaching mutual gains by trading off your differing preferences to create value.
Discover step-by-step techniques for avoiding common business negotiation pitfalls when you download a copy of the FREE special report, Business Negotiation Strategies: How to Negotiate Better Business Deals, from the Program on Negotiation at Harvard Law School.
The following items are tagged business negotiation skills:
Salary Negotiation: How to Negotiate Salary: Learn the Best Techniques to Help You Manage the Most Difficult Salary Negotiations and What You Need to Know When Asking for a Raise
Salary negotiations are often stressful and challenging. But with the right strategies, you can negotiate your employment terms with ease. In Salary Negotiation: How to Negotiate Salary: Learn the Best Techniques to Help You Manage the Most Difficult Salary Negotiations and What You Need to Know When Asking for a Raise, you’ll discover innovative ways … Read More
Negotiation Skills in Business Negotiation and Status Consciousness
Before and during your negotiation, think about who you’ve chosen as a reference group against which you measure yourself. Did you select the group purely to enhance your own status, or did you try to make a more appropriate comparison? What are your negotiation skills in business communication?
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Overcoming Cultural Barriers in Negotiation: Cross Cultural Communication Techniques and Negotiation Skills From International Business and Diplomacy
Learn how to better understand cultural differences—and improve your working relationships—with Overcoming Cultural Barriers in Negotiation: Cross Cultural Communication Techniques and Negotiation Skills From International Business and Diplomacy.
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Contract Negotiations and Business Communication: How to Write an Iron-Clad Contract
In contract negotiations, writing a contract that both encapsulates the negotiated agreement but also incorporates future elements such as the business relationship and the sustainability of the agreement can be a daunting task for even the most experienced negotiators. Executives often leave the legal issues surrounding their deals to their attorneys. While this division of … Read More
Negotiation Training: How Harvard Negotiation Exercises, Negotiation Cases and Good Negotiation Coaching Can Make You a Better Negotiator
Discover how to refine your negotiation skills with this free special report, Negotiation Training: How Harvard Negotiation Exercises, Negotiation Cases and Good Negotiation Coaching Can Make You a Better Negotiator, from Harvard Law School.
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5 Win-Win Negotiation Strategies
Business negotiators understand the importance of reaching a win-win negotiation: when both sides are satisfied with their agreement, the odds of a long-lasting and successful business partnership are much higher. But concrete strategies for generating a win-win contract often seem elusive. The following five, from experts at the Program on Negotiation at Harvard Law School, … Read 5 Win-Win Negotiation Strategies
Negotiation Skills: Negotiation Strategies and Negotiation Techniques to Help You Become a Better Negotiator
Students who master business negotiation become better leaders. But it starts with building the right skills. And that’s where our latest free report comes in. In Negotiation Skills: Negotiation Strategies and Negotiation Techniques to Help You Become a Better Negotiator, you’ll learn:
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Right of First Refusal: A Potentially Win-Win Negotiation Tool
Looking for ways to get more value out of your sales negotiations? You may be able to do so by negotiating a right of first refusal. A right of first refusal, also known as a matching right or right of first offer, is a contractual guarantee that one party to a business deal can match … Read More
What Is the Difference Between Leadership and Management?: Successful Leadership Strategies From Harvard’s Program on Negotiation
In this FREE special report, we offer advice to help you improve your leadership and negotiation skills.
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Framing in Negotiation
So, you’ve offered what you think is a great deal, but your counterpart doesn’t seem to agree. What’s the problem? The offer may be excellent—it’s how you’ve approached framing in negotiation that’s holding you back.
… Read Framing in Negotiation
Win-Win or Hardball?: Learn Top Strategies from Sports Contract Negotiations
In this Special Report, we offer advice from the world of sports to help you navigate your most important negotiations. You will learn to get your head in the game, manage team dynamics, and get a competitive edge.
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Dear Negotiation Coach: What Are Business Negotiation Skills for Entrepreneurs?
To get an idea or innovation off the ground takes strong business negotiation skills as an entrepreneur.
Yet, in their book Entrepreneurial Negotiation: Understanding and Managing the Relationships that Determine Your Entrepreneurial Success (Palgrave/Macmillan, 2018), Program on Negotiation instructor Samuel Dinnar and MIT professor Lawrence Susskind write that many entrepreneurs are falling short. Here, Susskind explains … Read More
Using Business Negotiation Skills To Move a Deal in your Favor
Performers have increasingly learned business negotiation skills and played an outsized role in shaping plays and musicals vying for a Broadway stage. In 2016, the original off-Broadway cast of Hamilton negotiated with the show’s producers to acknowledge their contributions to the hit musical by guaranteeing them a small share of the show’s profits.
With other actors … Read More
In Contract Negotiation, Wise Business Negotiators Sweat the Small Stuff
What are business negotiators responsible for in contract negotiation? Many would say they’re in charge of building relationships and new business, crafting creative solutions, and fighting for the best deal possible. Few, however, would say they’re responsible for ensuring that the deal holds up well over time.
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Navigating Business Relationships Using Negotiation
A three-year dispute between Starbucks and Kraft Foods over distribution of Starbucks packaged coffee in grocery stores was resolved in 2013 when an arbitrator determined that Starbucks had breached its agreement with Kraft and ordered the coffeemaker to pay the food giant $2.75 billion.
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For Price Negotiators, Preparation is the Key to Success
Some cultures have a long tradition of haggling—bargaining back and forth about the price of an item—in markets and bazaars. By contrast, in the United States and many other countries, haggling between buyers and sellers is an under-practiced skill. You might routinely pass up opportunities to haggle in situations where financial negotiations are not the … Read More
Famous Negotiation Case: How Jamie Dimon Avoided Disaster
Sometimes your goal in negotiation is to improve your fortunes. But sometimes, as in this famous negotiation case, the best you can hope for is to lessen the fallout from past mistakes.
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How Snap Judgments Can Lead Bargainers Astray In Negotiations
New research shows that our stereotypes about other people’s warmth and competence often mar our decisions and behavior in negotiation conversations.
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With Second Book Deal, Amy Schumer Gets the Last Laugh
Dissatisfied with her initial book contract, comedian Amy Schumer used her negotiation skills to bargain for an even better contract. Find out how she did it in this article drawn from examples of negotiation in real life.
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In Business Negotiations, Capitalize on a Right of First Refusal
As dealmakers look for more sophisticated ways to reduce risks and increase returns, a right of first refusal—a contractual guarantee that one side can match any offer that the other side later receives—has become a common and useful tool to add to your business negotiation skills.
Claim your FREE copy: Negotiation Skills
Build powerful negotiation skills and become a better dealmaker and leader. Download our FREE special report, Negotiation Skills: Negotiation Strategies and Negotiation Techniques to Help You Become a Better Negotiator, from the Program on Negotiation at Harvard Law School.