Although forecasting errors are extremely common, you can minimize their impact on your negotiations by following these three guidelines.
Influence
The following items are tagged Influence.
Dealmaking: What to Do After the Deal Breaks Down
Even with these precautions in place, there will be times when one side demands renegotiation of a deal. Here are some guidelines on how to proceed.
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.
Why Do Managers Resist Facilitation?
There are three major reasons that managers are reluctant to seek the assistance they need.
How Nervous Energy Affects Negotiation and Conflict Management
Negotiation is often characterized as a physiologically arousing event marked by pounding hearts, queasy stomachs, and flushed faces. We might assume that heightened physiological arousal would mar our negotiation performance, but this is only true for some, researchers Ashley D. Brown and Jared R. Curhan of the Massachusetts Institute of Technology found in a new study soon to be published in the journal Psychological Science.
Tips for Navigating Negotiations in China
With its booming economy and growing international consumer influence, negotiation skills appropriate for China is in high-demand. Here are a few tips to help you successfully navigate your next round of negotiations in China.
Trust in Negotiations
Trust may develop naturally over time, but negotiators rarely have the luxury of letting nature take its course. Thus it sometimes seems easiest to play it safe with cautious deals involving few tradeoffs, few concessions, and little information sharing between parties. But avoiding risk can mean missing out on significant opportunities. For this reason, fostering trust on the fly is a critical skill for managers. As Kristen knew, the first step to inspiring trust is to demonstrate trustworthiness. All negotiators can apply the six strategies that follow to influence others’ perceptions of their trustworthiness at the bargaining table.
Strategies for Negotiating More Rationally
In past articles, we have highlighted a variety of psychological biases that affect negotiators, many of which spring from a reliance on intuition.
Of course, negotiators are not always affected by bias; we often think systematically and clearly at the bargaining table.
Negotiate, Don’t Litigate
When you’re thinking about resolving a dispute in court, it’s crucial to remember that the decision that will be imposed on you is binding.
If blinders lead a judge to grant a motion that should be denied, deny a motion that should be granted, assign responsibility to the wrong party, or award too much or too little in damages, there can be no going back.
The Dictator Game: Justifying Selfishness in Negotiation
In a recent study of selfishness in negotiation, Fei Song of York University and C. Brian Cadsby and Tristan Morris of the University of Guelph had participants play the “dictator game,” adapted from experimental economics literature. In this game, Party A is given a sum of money to allocate between himself and Party B. Because Party B has no power, Party A’s allocation goes into effect without debate. The dictator game captures the essence of negotiations in contexts with an extreme power differential.
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