Negotiation Process

The following items are tagged Negotiation Process.

How Power Affects Negotiators

Posted by & filed under Negotiation Skills.

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.

What to Do Before the Deal Breaks Down

Posted by & filed under Dealmaking.

Whenever one side fails to meet its contractual obligations, renegotiation is more likely to succeed if the parties have a strong relationship. Ideally, the aggrieved party will value long-term relations more than potential gains from a claim for breach of contract. For example, a bank will be more willing to renegotiate a loan with a delinquent debtor when the prospect of future business with the debtor is likely. Bondholders of the same debtor, on the other hand, will generally be more resistant to renegotiation, as they tend to lack opportunities for a profitable future business relationship.

Beyond the Bottom Line

Posted by & filed under Negotiation Skills.

What do people value when they negotiate?

Research by Professors Jared R. Curhan and Heng Xu of MIT’s Sloan School of Management and Hillary Anger Elfenbein of Berkeley’s Haas School of Business provides useful insights concerning this basica question.

Using survey data collected from everyday negotiators and filtering it through a sorting procedure conducted by negotiation professionals, the researchers developed a Subjective Value Inventory (SVI) that includes four factors.

Nantucket’s Never-Ending Negotiations: Harvard Negotiation and Mediation Clinical Program (HNMCP) Students Shape How Town and Unions Work Together

Posted by & filed under Negotiation Skills.

Preparation. Practice. Persistence. Those qualities make for a good firefighter, and as Nantucket Firefighter Nate Barber learned from working with Harvard Negotiation and Mediation Clinical Program (HNMCP) students, they also make for a good negotiator.

As a member of Nantucket’s Local 2509 of the International Association of Firefighters and a former undergraduate negotiation student at Boston University, Mr. Barber knew relations between the Town of Nantucket’s management and his union could be better. Since the firefighters’ contracts only lasted two or three years and the negotiation process itself often took that long, the union and the management sat down for contract negotiations every year. And every year, the negotiations spilled over into the next year or, if it was the final year of the contract, went to arbitration. This impacted everyone: arbitration provoked more fighting, poorer relations, and less of what everyone wanted. They hadn’t had a mutual agreement for six years. As one of the interested parties, though, Mr. Barber knew he was not the person to fix a broken bargaining system.

Win-Win Negotiations: Managing Your Counterpart’s Satisfaction

Posted by & filed under Sales Negotiations.

As the following points will demonstrate, ensuring that your counterpart is satisfied with a particular deal requires you to manage several aspects of the negotiation process, including his outcome expectations, his perceptions of your outcome, the comparisons he makes with others, and his overall negotiation experience itself.

Strategies for Negotiating More Rationally

Posted by & filed under Negotiation Skills.

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.

Issuing a Draft in Negotiations: Risks and Pitfalls

Posted by & filed under Business Negotiations.

A draft agreement may allow you to control the early stages of talks, but be aware that it also can obstruct agreement in the long run.

Putting a draft on the table may lock parties into bargaining positions prematurely, interfering with a search for common interests and creative options.

Metaphorical Negotiation

Posted by & filed under Negotiation Skills.

Negotiators talk about building agreement, bluffing the opposition, and volleying offers back and forth. According to mediator Thomas Smith, careful attention to such metaphors can reveal deeper meaning beneath the explicit words that people use, notably regarding how they view the negotiation process and their relationship to one another.