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What is Anchoring in Negotiation?

By on / Negotiation Skills

anchoring

Consider this anchoring bias example from Harvard Business School and Harvard Law School faculty member 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 wage rate to offer the student’s counterpart. The … Read More 

Negotiating with Millennials – How to Overcome Cultural Differences in Communication

By on / Business Negotiations

negotiating

Negotiation training often focuses on bridging gaps between negotiators with different styles, backgrounds, or objectives, but what about overcoming generational barriers in negotiation? Generational differences need not stymie efforts at the bargaining table. In this segment from “Dear Negotiation Coach,” we explore how to overcome cultural differences in communication with members of the Millennial generation. … Read More 

MESO Negotiation Strategies and Negotiation Techniques

By on / Dealmaking

meso negotiation

MESO negotiation techniques for negotiators include creating value at the bargaining table by identifying multiple proposals of equal value and presenting them to your counterpart simultaneously. 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 … Read More 

Win-Win Negotiations: Should You Consider a Deal Sweetener?

By on / Win-Win Negotiations

win-win negotiations

The following question was asked of Andrew Wasynczuk, MBA Class of 1953 and Senior Lecturer of Business Administration Harvard Business School in the Negotiation Briefings monthly “Ask the Negotiation Coach” column:
I run a midsized retail sports-apparel chain located in the southwestern United States. I’ve been searching for a seasoned executive to lead new store expansion … Read More 

Positional Bargaining Pitfalls

By on / Negotiation Skills

positional bargaining

When they think of negotiation, many people imagine a positional bargaining scenario where two people are haggling back-and-forth over the price of an item, both refusing to budge. In positional bargaining, “each side takes a position, argues for it, and makes concessions to reach a compromise,” write Roger Fisher, William Ury, and Bruce Patton in … Read More 

5 Tips for Improving Your Negotiation Skills

By on / Negotiation Skills

improving your negotiation skills

The prospect of boosting our negotiation skills can be so overwhelming that we often delay taking the necessary steps we can follow to improve, such as taking time to prepare thoroughly. The following five guidelines will help you break this daunting task into a series of manageable—and often essential—strategies. … Read More