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New Simulation on Bidding in an International Business Negotiation: Euro-Idol

By on / Teaching Negotiation

Euro-Idol

Euro-Idol is a four-party, two-round international business negotiation over the selection of the host country and city for the upcoming Euro-Idol music competition. In this new simulation from the Teaching Negotiation Resource Center (TNRC), cities must bid to host the Euro-Idol competition, and therefore gain the economic benefits that come with hosting such a large … Read More 

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Negotiation Research: When Many BATNAs Are Worse Than One

By on / BATNA

batna batnas

Negotiators are often taught that the more alternatives they have, the more fortunate they are. If it’s good to have one strong best alternative to a negotiated agreement, or BATNA, then it’s better to have many BATNAs, right?
Not necessarily, results from a new study by Michael Schaerer of INSEAD and his colleagues show. In a … Read More 

Negotiation Preparation Strategies

By on / Business Negotiations

negotiation preparation

When an important negotiation is looming, “winging it” is never the answer. The best negotiators engage in thorough negotiation preparation. That means taking plenty of time to analyze what you want, your bargaining position, and the other side’s likely wants and alternatives. … Read More 

Business Conflict Management

By on / Conflict Resolution

types of conflict

In the business world, workplace disputes are all too common. Consider these real-life conflict scenarios: a group of employees who, working overtime to make up for staff shortages, complain to their manager that they aren’t getting paid enough for the extra time. A colleague confides about his boss’s verbal abuse. Two employees argue openly about … Read More 

Stonewalling in Negotiations: Risks and Pitfalls

By on / Negotiation Skills

negotiations

Contract negotiations between Jason Pierre-Paul and the New York Giants demonstrate the hazards of intentionally stonewalling your counterpart in negotiations. A successful defensive end with the Giants since 2010, Pierre-Paul was renegotiating his contract after a couple of mildly disappointing seasons. The Giants’ offer of a “franchise tag” designation did not sit well with Pierre-Paul, … Read More 

Sales Negotiation Techniques

By on / Business Negotiations

Sales Negotiation

In sales negotiations, making the first offer is often a smart move. The first offer can anchor the discussion that follows and can have a powerful effect on the final outcome.

But if the other party makes the first offer, you’ll need to be prepared to frame your counteroffer carefully. What is framing in negotiation? It … Read More 

Dear Negotiation Coach: Managing Perceptions

By on / BATNA

managing perceptions

Sometimes a negotiation is all about managing perceptions. As this story below shows, focusing a counterpart on his own BATNA can persuade him to reduce the intensity of his hard-bargaining tactics.
Q: A customer is pressuring me to make a deal fast. I don’t want to be forced into a one-sided agreement and prefer to reach … Read More 

The Importance of Communication in Negotiations: Preparing Your Negotiating Team

By on / Negotiation Skills

negotiations

When a team is preparing for a critical negotiation, members need to appoint a leader, allocate roles and responsibilities, and discuss their at-the-table strategy. Another key objective that teams sometimes fail to discuss is the importance of staying “on message” – that is, making sure that statements by individual members don’t contradict the group’s agreed-upon … Read More