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ZOPA

Zone of Possible Agreement: The bargaining range created by the two reservation values. The ZOPA defines a

The following items are tagged ZOPA

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Managing Your Counterpart’s Satisfaction in Negotiations

Posted by & filed under Win-Win Negotiations.

As the following points of win-win negotiating 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. … Read More 

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Super Slipster

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Matt Smith under the supervision of Robert C. Bordone, with revisions by Michael Moffitt Two-party personal injury settlement negotiation between the attorney for the injured plaintiff and general counsel for the defendant toy manufacturing company … Read More 

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Setting Standards in Salary Negotiations

Posted by & filed under Salary Negotiations.

As the starting point from which all commercial transactions occur, from purchasing equipment to setting salaries, negotiation in business is an essential skill no matter what field a negotiator finds herself. Using an objective standard can strengthen your proposal and eliminate emotional bias. … Read More 

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Summitville Service Agreement

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Patrick Field and Tracy Dyke A two-team (four-party), co-mediated, multi-issue negotiation simulation involving a bitter property tax dispute between a small town and an Indian band living on a nearby reservation … Read More 

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Repairing Relationships Using Negotiation Skills

Posted by & filed under Dispute Resolution.

Negotiation is not only something we do at work; often the toughest negotiations we encounter are in our personal lives. Some of the most successful negotiation examples of the power of negotiation skills in dispute resolution is when they repair relationships between friends. … Read More 

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Multisearch Software

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Eric Gould and Michelle Easter Two-party integrative negotiation between a software developer and a software manufacturer over a possible contract for a new search engine product … Read More 

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Hong Kong Property Deal

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Larry Crump, based on a concept developed by Lawrence Susskind Two-party potentially integrative negotiation between a property owner and a neighboring business over the sale of two real estate parcels … Read More 

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Metaphorical Negotiation and Defining Negotiation Skills

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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. … Read More 

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In Platform Negotiations with Clinton, Sanders is Finally Victorious

Posted by & filed under BATNA.

With the 2016 Democratic National Convention now over, Vermont senator Bernie Sanders used the Hillary Clinton campaign’s fear of a divisive spectacle in Philadelphia to extract concessions on the party’s official platform and committee assignments. The senator’s tough dealmaking suggests an important negotiation lesson: Always know your BATNA and ZOPA in any negotiation. … Read More 

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Leadership Style Assessment: Road Map for Podemos in Spain

Posted by & filed under Leadership Skills.

The skills required for honing an effective participative leadership style have a great deal in common with those used by good negotiators. Following the May 24, 2015 municipal elections in Spain, all of those skills are being put to the test. The elections delivered a stunning rebuke to the incumbent conservative Popular Party of Mariano … Read More 

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7 Tips for Closing the Deal in Negotiations

Posted by & filed under Dealmaking.

“ABC: Always Be Closing.” That’s the sales strategy that actor Alec Baldwin’s character Blake shared in the 1992 film Glengarry Glen Ross as he tried to motivate a group of real estate salesmen. In his verbally abusive, profanity-laced speech, Blake presented a ruthless model of closing a business deal that ignores customers’ needs and cuts … Read More 

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What is Anchoring in Negotiation?

Posted by & filed under Negotiation Skills.

What is anchoring in negotiation, and how does it play out? Consider this anchoring bias example from Harvard Business School and Harvard Law School Guhan Subramanian. While running a negotiation simulation in one of his classes, Subramanian noticed that one student spent a considerable amount of time explaining why $10.69 per hour would be an impossible … Read More 

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How to Find the ZOPA in Business Negotiations

Posted by & filed under Business Negotiations.

In business negotiation, two polar-opposite errors are common: reaching agreement when it wouldn’t be wise to do so, and walking away from a mutually beneficial outcome. How can you avoid these pitfalls? Through careful preparation that includes an analysis of the zone of possible agreement, or ZOPA. The agreement trap The “agreement trap” describes the tendency to agree … Read More 

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How a Bad BATNA Keeps Medicare Drug Prices High

Posted by & filed under Business Negotiations.

Republican presidential candidate Donald Trump disagrees with his Democratic competitors, Hillary Clinton and Bernie Sanders, on most political issues. But on the issue of prescription drug prices under Medicare, Trump agrees with Clinton and Sanders that the U.S. government is getting a lousy deal. Recently, Trump, Clinton, and Sanders have all called for the government to … Read More 

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Characteristics of Negotiation Styles: Are You Ready to Negotiate?

Posted by & filed under Negotiation Skills.

Characteristics of Negotiation Styles “Winging it” is a fine approach to life’s minor decisions, but in negotiation, it can be disastrous. Follow these three preparation steps and improve your agreements. You set up the contract renegotiation with a key client months ago. You had every intention of gathering a range of information to establish realistic goals and … Read More 

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ZOPA Negotiation: Bargaining Between Friends

Posted by & filed under Negotiation Skills.

ZOPA Negotiation: How to Find Points of Agreement While Bargaining Finding the zone of possible agreement in negotiations can be difficult, especially when dealing with friends and family. We all know people who have “alligator arms.” When the restaurant check comes, they can’t manage to reach their wallets, or they quibble that they had the small … Read More 

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When to Make the First Offer in Negotiation

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When or when not to make the first offer in negotiations is a question many expert negotiators ask themselves when approaching business negotiations, real estate transactions, or even interpersonal negotiations with friends and family. In this article drawn from negotiation research, we offer negotiating skills and negotiation tips for when, and when not, to make … Read More 

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Top Ten Conflict Resolution Posts

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Here is a list of our top ten most popular conflict resolution articles. 1. A Cross Cultural Negotiation Example: How to Overcome Cultural Barriers Understanding cultural norms, while avoiding stereotyping, is a key negotiation skill for all international negotiators. Negotiation research reveals that dealmaking across cultures tends to result in worse negotiated agreements than those where … Read More 

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Deal Negotiation and Dealmaking: What to Do On Your Own

Posted by & filed under Dealmaking.

Six negotiation skills tips for negotiators seeking to creative value during their next round at the bargaining table. Business negotiators are often faced with the complex task of coordinating multiple parties – here are some tips for the individual business negotiator on how to achieve success in her next deal negotiation. … Read More 

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Dealmaking Strategies: Haggling – When to Make the First Offer

Posted by & filed under Dealmaking.

After you discuss the pros and cons of your desired item, the salesperson might offer to give you a discount without any prompting. If not, open the negotiation yourself: “I can buy this TV online this weekend at a much lower price. Can we work together toward a more competitive deal?” If the salesperson is willing … Read More 

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Conflict Management: Becoming a Team Player

Posted by & filed under Conflict Resolution.

Show me the money!” That refrain from the 1996 movie Jerry Maguire, shouted by a football player to his agent, continues to echo through U.S. professional sports negotiations today. A public arena, enormous piles of cash, and even bigger egos combine to make sports negotiations a unique context. Yet anyone who has negotiated through agents, … Read More 

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A Worse Deal than You Think?

Posted by & filed under Negotiation Skills.

Most negotiators leave the bargaining table believing they were better at pushing the other side to its limit than was actually the case, according to recent experimental studies by Richard P. Larrick of Duke University and George Wu of the University of Chicago. … Read More 

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Did You Really Get a Great Deal?

Posted by & filed under Negotiation Skills.

Adapted from “A Worse Deal Than You Think?” First published in the Negotiation newsletter, August 2006. Most negotiators leave the bargaining table believing they were better at pushing the other side to its limit than was actually the case, according to experimental studies by Richard P. Larrick of Duke University and George Wu of the University … Read More 

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“Are We Exclusive?”

Posted by & filed under Business Negotiations.

Ron McAfee, a carpenter and roofing expert, spent considerable time working with a condominium association on the design of a new roof deck. After gaining agreement on the proposed layout, design, and materials, McAfee submitted a written bid of $12,500. One of the board members subsequently showed McAfee’s plans to another roofer, who offered to … Read More