The Importance of a Relationship in Negotiation

By on / Negotiation Training

Relationship in Negotiation

At the negotiation table, what’s the best way to uncover your negotiation counterpart’s hidden interests? Build a relationship in negotiation by asking questions, then listening carefully. Even if you have decided to make the first offer and are ready with a number of alternatives, you should always open by asking and listening to assess your … Read The Importance of a Relationship in Negotiation 

Negotiating a Salary When Compensation Is Public

By on / Salary Negotiations

Great Negotiators

Faced with the prospect of negotiating a salary with a new employer, job candidates often feel anxious, confused, and tentative. Historically, organizations have tended to keep information about salaries for open positions opaque, assuming they benefit when prospective employees are in the dark about how much they might earn. But new laws and broader marketplace … Read Negotiating a Salary When Compensation Is Public 

The Best New Simulations

By on / Teaching Negotiation

How to Respond to Questions

Looking to update your curriculum with innovative new simulations? Check out these new simulations from the Teaching Negotiation Resource Center (TNRC).
Ren the Robot – New Simulation 
Ren the Robot is a one-and-a-half hour, two-party, multi-issue negotiation between a Tokyo-based robotics company, Grubotics, and a U.S.-based tech company, Delivered, over a potential acquisition deal. It is designed to … Read The Best New Simulations 

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 What is Anchoring in Negotiation? 

7 Tips for Closing the Deal in Negotiations

By on / Dealmaking

Closing the Deal

“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 7 Tips for Closing the Deal in Negotiations 

Learning from Feedback without Losing Your Mind

By on / Conflict Resolution

learning from feedback

During the coronavirus pandemic, you might have gotten a lot of feedback, whether from the new “coworkers” in your home, the boss you only see in video meetings, or strangers critical of your social-distancing practices. You can begin learning from feedback, though. Instead of retreating after receiving feedback, open up a conversation, Heen and Stone … Read Learning from Feedback without Losing Your Mind