How do you negotiate an internal management conflict in the face of looming crisis and a deep loss of trust? In Discord at the Daily Herald, a new simulation from the Teaching Negotiation Resource Center (TNRC), the co-owners of the Daily Herald must grapple with these issues or face the complete dissolution of their partnership … Read New Simulation: Negotiating a Management Crisis
Should Salary Expectations Be a Laughing Matter?
In salary negotiations, job candidates are often at a disadvantage relative to the hiring organization. Due to the well-documented anchoring effect, the first figure introduced into the discussion tends to strongly influence the salary expectations. Unfortunately for candidates, the first figure mentioned in a negotiation often is not in their favor. … Read Should Salary Expectations Be a Laughing Matter?
Negotiation Techniques: The First Offer Dilemma in Negotiations
The first offer dilemma in negotiations – should you make the first offer? Few questions related to negotiation techniques and negotiation strategies have yielded more academic attention and debate among practitioners in negotiation research. … Read This Post
Interest-Based Negotiation: In Mediation, Focus on Your Goals
How can you get through to people who seem uninterested in finding common ground? How can you deal with seemingly irrational negotiators who use insults, threats, and other hardball tactics to try to get their way? … Read This Post
Contract Negotiations and Business Communication: How to Write an Iron-Clad Contract
In contract negotiations, writing a contract that both encapsulates the negotiated agreement but also incorporates future elements such as the business relationship and the sustainability of the agreement can be a daunting task for even the most experienced negotiators. Executives often leave the legal issues surrounding their deals to their attorneys. While this division of … Read This Post
Negotiation Skills: Which Negotiating Style Is Best?
Is one negotiating style “better” than another? Most research suggests that negotiators with a primarily cooperative style are more successful than hard bargainers at reaching novel solutions that improve everyone’s outcomes. Negotiators who lean toward cooperation also tend to be more satisfied with the process and their results, according to Weingart. At the same time, … Read This Post
Deceptive Tactics in Negotiation: How to Ward Them Off
Deceptive tactics in negotiation can run rampant: parties “stretch” the numbers, conceal key information, and make promises they know they can’t keep. The benefits of negotiation in business offer strong incentives to detect these behaviors. Unfortunately, however, most of us are very poor lie detectors. … Read This Post
5 Ways to Be a More Strategic Business Partner
If you’re looking to be a strategic business partner, you need to have your eyes and ears open at all times. … Read 5 Ways to Be a More Strategic Business Partner
Understanding Exclusive Negotiation Periods in Business Negotiations
The clearest method for achieving exclusivity in negotiation is an exclusive negotiation 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. … Read This Post
Managing Difficult Employees, and Those Who Just Seem Difficult
Ask the many managers of a certain high-volume restaurant in the Midwest what their greatest work challenge is, and they’d most likely say something along the lines of, “managing difficult employees.” … Read This Post
Emotional Intelligence as a Negotiating Skill
The concept of emotional intelligence burst into the cultural imagination in 1995 with the publication of psychologist Daniel Goleman’s bestselling book of the same name. Experts have predicted that scoring high on this personality trait would boost one’s bargaining outcomes and have found many successful negotiation examples using emotional intelligence in their research. … Read Emotional Intelligence as a Negotiating Skill
The Winner’s Curse: Avoid This Common Trap in Auctions
Imagine that a professor shows a jar full of coins to his class and announces he’s auctioning it off. Students are told they can write down a bid and that the highest bidder will win the contents in exchange for the money he or she bid. After everyone has written down their bids, the professor … Read This Post