Imagine that you are a sales rep with a company that is getting hit hard by the current financial crisis. No one has been laid off yet, but everyone is nervous about that possibility. In an effort to save jobs, your sales manager has quietly proposed that everyone take lower base salaries, along with more
Harvard Business School professor
The following items are tagged Harvard Business School professor.
March 2012
Reach a more creative agreement. You’ve heard it many times: to get the most out of an agreement and a new business relationship, you have to collaborate to find new sources of value in addition to claiming value for yourself. Yet coming up with original, value-creating ideas can be easier said than done. We present
Negotiate for what you really want
It may seem elementary, but one of the first questions you should ask when you’re thinking about negotiating for an important purchase is whether you truly want or need it.
We tend to assume that future events—such as buying a new car or signing a seemingly important contract—will have a lasting impact on our overall happiness.
New Conflict Management Skills
Adapted from “Resolve Hot Topics with Cooler Heads,” first published in the Negotiation newsletter, May 2007.
Negotiating effectively with colleagues can be more challenging than dealing with outsiders. Conventional wisdom advises addressing team conflict by staying focused on tasks and avoiding relationship issues. Yet a study by Harvard Business School professor Amy Edmondson and Diana McLain
Bringing outsiders to the negotiating table
Adapted from “Why Your Negotiating Behavior May Be Ethically Challenged—and How to Fix It,” first published in the Negotiation newsletter, March 2008.
In the late 1990s, pharmaceutical company Schering-Plough filed a patent-infringement lawsuit to prevent rival Upsher-Smith from introducing a generic version of one of Schering-Plough’s products. The two companies reached an out-of-court settlement: Upsher-Smith
Conflict management from the start
Adapted from “Before You Sign on the Dotted Line…”first published in the Negotiation newsletter, May 2009.
After reaching an agreement, professionals often rely on their lawyers to draw up the official contract. Unfortunately, miscommunication between negotiators and their lawyers often leads to costly mistakes. Contract terms may not accurately represent the negotiated agreement, key deal terms
Negotiation lessons from the M&A world
Adapted from “What to Do When the Table Gets Crowded,” first published in the Negotiation newsletter, May 2008.
Negotiators often have to deal with more than one party to reach their goals. These situations pose unique challenges, yet most negotiation advice focuses on talks between two parties.
Where can we turn for guidance? For many years, Harvard
Is it really worth that much?
Adapted from “Trying to Make a Sale? Avoid These Common Pitfalls,” first published in the Negotiation newsletter, April 2010.
Why is it that even in sluggish markets, some homes are plucked off the real estate listings within days or weeks, and others sit for months, even years? Location and curb appeal have something to do with
When Negotiation Trumps Procurement Auctions
Adapted from “Negotiations versus Auctions: New Advice for Buyers,” first published in the Negotiation newsletter, August 2007.
Economists have long advocated auctions as an effective means of increasing value. Yet recent research contradicts this conventional wisdom. In fact, as compared with negotiations, auctions can actually raise prices in procurement contracts. Suppliers tend to prefer negotiations because
Consider the Setting
Adapted from “The Crucial First Five Minutes,” first published in the Negotiation newsletter, October 2007.
Your designated meeting place can have a critical impact on talks. When you don’t have a choice about where to meet, be aware that situational factors may color your judgment. For instance, the visual cues of a car lot—flashy banners, cheerful
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