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Sometimes negotiators get off on the wrong foot. Maybe you and your partner had a different understanding of your meeting time, or one of you makes a statement that the other misinterprets. Such awkward moves at the beginning of an interaction can lead one party to question the other side’s motives.
In a recent article, Robert Lount, Chen-Bo Zhong, J. Keith Murnighan, and Niro Sivanathan, all of the Kellogg School of Management at Northwestern University, examined trust building in negotiation.
Encourage information sharing.
Avoid a gender backlash effect.
“Lessons in Diplomacy: Building a Successful Negotiating Career,” our cover story, presents lessons that Secretary of State James A. Baker, III, recipient of the Great Negotiator Award 2012 from the Program on Negotiation at Harvard Law School and the Future of Diplomacy Project at Harvard Kennedy School, shared from over the course of his long, successful career as a lawyer, campaign manager, and diplomat.
I want to make four simple points regarding corporate social responsibility and mineral extraction in Colombia. I presented these ideas several weeks ago at a Harvard Law School seminar sponsored by the Colombian government. We had senior officials present along with a great many Colombian graduate students studying at Boston-area schools. I think these prescriptions apply globally, but they are especially relevant in Latin America.
Corporate Social Responsibility (CSR) provides a new point of entry for those concerned about the social and environmental impacts of mineral extraction.
Group negotiations are a fact of managerial life, yet the outcomes of teamwork are highly unpredictable. Sometimes, groups cohere, reaching novel solutions to nagging problems, and sometimes infighting causes them to collapse. How can you predict when conflict will emerge in groups, and what can you do to stop it?
Effective negotiators seek opportunities to create value. By making tradeoffs across issues, parties can obtain greater value on the issues that are most important to them. But how can you be sure you’re making the right offer?
Victoria Husted Medvec and Adam D. Galinsky of Northwestern University argued that, in negotiations involving many issues, you can create a great deal of value by making multiple equivalent simultaneous offers or MESOs. This strategy entails identifying several proposals that you value equally and presenting them to the other side.By making multiple offers, the theory goes, you appear more flexible, collect information about the other side’s preferences based on which offer she likes best, and increase the odds of reaching agreement.
Decision makers often overlook others’ viewpoints. When we do take others’ thinking into account, we tend to assume that they know as much as we do. For this reason, marketing experts are generally worse than non-expert consumers at predicting the beliefs, values, and tastes of consumers.
Similarly, individuals who correctly solve a problem overestimate the percentage of their peers who will be just as successful solving the same problem.
We generally think of mediation as a dispute-resolution device. Federal mediators intervene when collective bargaining bogs down. Diplomats are sometimes called in to mediate conflicts between nations. So-called multidoor courthouses encourage litigants to mediate before incurring the costs – and risks – of going to trial.
Scott R. Peppet, a professor at the University of Colorado School of Law in Boulder, Colorado, reports that mediation may be quietly creeping into transactional negotiation, or traditional dealmaking, as well. In Peppet’s survey of 122 practicing mediators, 48 reported having been involved in deals ranging from $100,000 to $26 million in value.
Power and Negotiation
MASSACHUSETTS INSTITUTE OF TECHNOLOGY (15.665)
FALL 2012
Instructor:
Denise Lewin Loyd
This course is designed to provide you with a competitive advantage in negotiation. You will learn and practice the technical skills and analytic frameworks that are necessary to negotiate successfully with peers from other top business schools, and you will learn methods for developing the powerful
As members of organizations and families, we all know from experience that even people with identical backgrounds can have vastly different negotiating styles and values. Nonetheless, we continue to be intrigued by the idea that distinct patterns emerge between negotiators from different cultures.
Researchers do confirm a relationship between national culture and negotiation style and success. An ongoing research project sponsored by Northwestern University’s Dispute Resolution Research Center is exploring the link between process and outcomes – specifically, how cultural tendencies lead to certain process choices, which, in turn, can lead to better or worse negotiation results.
The hardest step in negotiation is often the first. Costly lawsuits can drag on it everyone is afraid to be the first to blink. Prospective buyers and sellers can waste endless hours dancing around a possible deal. And in collective bargaining, labor and management teams sometimes paint themselves into corners by refusing to negotiate “matters of principle.”
Taught by world-renowned professors, distinguished thought leaders and best-selling authors.
BATNA
Business Negotiations
Conflict Management
Conflict Resolution
Crisis Negotiations
Dealmaking
Dispute Resolution
International Negotiation
Mediation
Meeting Facilitation
Negotiation Skills
Negotiation Training
Pedagogy
Sales Negotiations
Win Win
Women and Negotiation