negotiator

The following items are tagged negotiator.

Capitalize on the Similarity Effect

Posted by & filed under Business Negotiations.

The evidence from social science is clear: people’s behavior is powerfully influenced by the actions of those who are like them. A classic study by Harvey Hornstein, Elisha Fisch, and Michael Holmes found that New York City residents were highly likely to return a lost wallet after learning that a “similar other”—another New Yorker—had first tried to do so. But evidence that a dissimilar other—a foreigner—had tried to return the wallet did not increase the likelihood that they would try. When people are trying to determine how to act, they pay attention to how others like them behave in the same situation.

When It Pays to Delay

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Kathy, a serial entrepreneur, was negotiating the acquisition of a boutique software-development firm when a dispute arose regarding the valuation of one of the software firm’s assets. Specifically, the firm owned the rights to a technology patent of uncertain value. The firm’s owner argued that this patent was worth millions. Kathy agreed that the patent had potential, but there was a problem. The technology potentially infringed on existing patents, and the holders of these patents would almost certainly challenge the firm’s patent in court. If the patent could withstand these legal challenges, it would indeed be worth millions. If not, it might be worthless.

Is Your Role Not Quite Right? Negotiate a Better “Fit”

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What happened the last time you faced a new leadership opportunity? Whether you were called on to head a team, a task force, a unit, a division, or a company, chances are you negotiated the compensation and perquisites of the appointment—your salary, title, vacation, and bonus. But did you look beyond these basics and negotiate for what you would need to succeed in the new role? New leaders often fail to address issues critical to their ability to perform on the job, including their fit with the role, Judith Williams, Carol Frohlinger, and I learned from interviews with more than 100 women who had taken on leadership positions.

Financial Negotiations: Brad Pitt’s Negotiation Nightmare

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In challenging economic times, negotiators can find themselves in an entirely new ball game. That’s what happened to actor Brad Pitt, film director Steven Soderbergh, and their production team when Sony Pictures abruptly pulled the plug on their film project Moneyball just days before the start of shooting in late June.

Become a Better Haggler

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Imagine you’re celebrating a special occasion with friends at an upscale restaurant. Soon after you take your seats, the wine director introduces himself and hands you a list of high-end bottles of wine. You notice that the prices—all in the $200–$600 range—have been slashed through with a red pen.

Negotiating Financial Strategies that Work: Adding Third Parties to Seal the Deal

Posted by & filed under Business Negotiations, Daily.

As negotiation experts, David Lax and Professor James Sebenius find that many negotiators focus on process and substance. Whether in person, over the phone, or through email, business outcomes seem determined by how well parties can establish trust, communicate, and put the best deal on the table. These are the first two and best known dimensions to financial negotiations.

How to Avoid the “Winner’s Curse”

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Imagine that at the beginning of class, a professor produces a jar full of coins and announces that he is auctioning it off. Students can write down a bid, he explains, and the highest bidder wins the contents of the jar in exchange for his or her bid.