Private sector or commercial negotiations can range from relatively straightforward, high-stakes contract negotiations between suppliers and distributors to complex, multiparty negotiations between government, industry, and other interest groups. To help teach these key negotiation skills the Teaching Negotiation Resource Center (TNRC) has developed a wide range of role-play exercises that reflect the full breadth and depth of business and commercial negotiations.
The following items are tagged negotiation strategy.
Two-party term sheet negotiation between a venture capitalist and the founder of an aerospace start-up company in which participants are scored both on their substantive performance and on the other party’s perception of the relationship
Negotiation can be challenging. And so can teaching it! At the Program on Negotiation (PON) at Harvard Law School, we help educators, scholars and practitioners like you learn how to more effectively teach negotiation.
Notably, role-play simulations are a particularly useful way to facilitate experimentation and introduce participants to new dispute resolution tools, techniques and strategies. To help you gain a greater understanding of the impact of role-plays, we’ve recently introduced a new, free report: Teaching Negotiation. It reveals the answers to many common questions like:
• What does it mean to make a negotiation exercise “authentic”?
• When a role-play simulation is based on an historic event, how do you prevent students from simply “re-enacting” what happened?
• What role do human emotions play in role-play simulations?
• How do you create an immersive simulation experience in a short amount of time?
You can’t control the U.S. financial markets, but you can take these three steps to make sure your deals don’t contribute to a predictable surprise in your own home or organization.
Subscribe to Negotiation, the monthly newsletter of negotiation strategy that helps you build agreements and partnerships.
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:
Aggressive tactics and hard-bargaining strategies may, at face value, provide a roadmap to success at the bargaining table but, as the Washington Post’s Kelly Johnson discovered in her interview with Program on Negotiation faculty member Michael Wheeler, adaptability to ever-changing circumstances is essential for the “dynamic” negotiations one encounters in everyday life.
This report reveals how wise negotiators extract unexpected value using an indirect approach to conflict management. An aggressive management style can set you up for repeated failure. Direct conflict management approaches can be overly combative and counter-productive. Experienced negotiators know that compromise seldom succeeds. Win/lose is really lose/lose. The best negotiation strategy results in a deal that works for all parties.
Program on Negotiation at Harvard Law School faculty member Erica Ariel Fox recently published an article for Forbes.com discussing the inner negotiations that she advises leaders to focus on when formulating theirnegotiation strategy and how this relates to US President Barack Obama’s deliberations with regard to the crisis in Syria.
In the past we have encouraged you to ‘debias’ your own behavior by identifying the assumptions that may be clouding your judgment. We have introduced you to a number of judgment biases – common, systematic errors in thinking that are likely to affect your decisions and harm your outcomes in negotiation. Learn how to identify your biases and learn how to correct them.
Based on current research, the following is a summary of the information you need to set up an optimal accountability system for negotiators in your organization.
Here are four pieces of advice that current negotiation research offers to reduce your overconfidence.
Great Negotiator Award winner and former United States trade representative (1997-2001) to Japan and China, Ambassador Charlene Barshefsky visited Harvard Law School to speak with students in HLS Clinical Professor Robert Bordone’s Advanced Negotiations Workshop course on October 3.
Advice seeking inherently employs multiple self-presentation tactics (including ingratiation, self-promotion, and supplication), it allows us to improve both our competence and our likability. Think about the last time someone asked you for advice. How did you respond? You probably had at least one of these reactions:
Negotiation preparation is as much an organizational task as an individual one. For example, when determining their best alternative to a negotiated agreement or BATNA (the point at which the negotiators ought to walk away from the table), executives should check in with key organizational leaders. If senior managers are unwilling to invest time in such a conversation – or if they offer less-than-helpful advice such as, “Whatever you do, don’t lose that account!” – an executive can’t be held responsible for poor negotiation preparation.
Reading groups at Harvard Law School, consisting of 2Ls and 3Ls, present faculty and students with opportunities to study with one another in a less formal setting. Additionally, students are encouraged and are able to gain an in-depth knowledge of the particular reading group’s subject matter.
Death to modifiers! All hail the active verb. Be succinct. These are some of Strunk and White’s commandments for simple and direct writing from The Elements of Style. They may also be effective guidelines for establishing verbal power in negotiation – though not always, it turns out.
Researchers have argued that negotiators learn more from cases and real-world experiences when they can take away an abstract version of the lesson. Such abstractions come from analogies developed across two or more different negotiation contexts, say Leigh Thompson and Dedre Gentner of Northwestern University and Jeffrey Loewenstein of the University of Texas, who propose that such analogical reasoning be incorporated into negotiation training.
But researchers Simone Moran and Yoella Bereby-Meyer of Ben Gurion University and Max H. Bazerman of Harvard Business School argue that teaching people more general negotiation principles – such as “value can be created” – enables a more successful transfer to a broader range of new negotiation tasks than focused analogies.
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.