Although forecasting errors are extremely common, you can minimize their impact on your negotiations by following these three guidelines.
power
The following items are tagged power.
Types of Power in Negotiation
Social psychologists have described types of power that exist in society, and these types of power emerge in negotiation as well.
Two types of power spring from objective features of the bargaining process.
Exclusive Negotiation Periods
The clearest method for achieving exclusivity is an exclusive negotiating period, during which both sides agree not to talk to third parties, even if approached unexpectedly by others. In some arenas, these terms are called no-talk periods.
Expectations and Self-Fulfilling Prophecies
When you expect people to be competitive, it’s not only your own behavior that changes.
You also set up a self-fulfilling prophecy, such that your expectations about the other side’s behavior lead him to behave in ways that confirm your expectations.
How to DEAL with Threats
Our DEAL approach allows you to respond to threats without conveying weakness or escalating the conflict, redirecting talks toward a focus on each other’s interests.
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.
Protecting Yourself from Competitive Expectations
Like other cognitive biases, competitive expectations can be insidious. Fortunately, there are several steps you can take to forestall their negative consequences.
Negotiating in China: The Gold Rush Mentality
If Chinese culture favors insiders, it stands to reason that outsiders face an uphill battle.
In One Billion Customers: Lessons from the Front Lines of Doing Business in China (Free Press, 2005), business executive and Wall Street Journal bureau chief James McGregor writes of the 1996 attempt by Xinhua, the official Chinese news agency, to declare that only it had the right to publish financial data in China, thereby locking out Dow Jones and Reuters. It was a bold move based on brute power. Xinhua backed down only after Dow Jones and Reuters appealed to the U.S. government, which threatened to abandon a trade agreement with China.
Bring Long-Term Concerns to the Bargaining Table
It can be difficult to keep future concerns at the forefront of your company’s most important decisions. Fortunatly, research on intergenerational conflict has uncovered best practices for ensuring that you and your employees take the long view.
Apple and the Art of Persuasion
Whether you have one of its ubiquitous products or even its rivals’ offerings, you most certainly have heard of Apple, the United States electronics giant whose phoenix-like rise to the top of the business world has inspired legions of fans and detractors alike.
Started in a garage in California, Apple has grown into a technological powerhouse of innovation that has changed the way the world works and lives. Along the way, the company has demonstrated unparalleled business acumen and leadership, both commercially and through leaders like Steve Jobs and current CEO Tim Cook.
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