The late psychologist Daniel Kahneman, with his research partner Amos Tversky, spurred a scientific revolution in economics by pinpointing predictable ways in which intuition impairs our judgment. The pair also made key contributions to our understanding of negotiation. … Read More
How an Authoritarian Leadership Style Blocks Effective Negotiation
Those who favor an authoritarian leadership style, also known as an autocratic leadership style, tend to believe their approach to management is more efficient and decisive than a more collaborative leadership style. But because a top-down approach can heighten the power differential between leaders and those who report to them, it often backfires, generating resentment … Read More
Why Negotiations Fail
When we think of failed business negotiations, most of us picture negotiators walking away from the table in disappointment. But that’s only one type of disappointing negotiation. Failed business negotiations also include those that parties come to regret over time and those that fall apart during implementation. The following three types of negotiation failures are … Read Why Negotiations Fail
Famous Negotiations Cases – NBA and the Power of Deadlines at the Bargaining Table
It’s a classic famous negotiations case. In the summer of 1988, National Basketball Association (NBA) team owners and players were at loggerheads over their new contract. At midnight on June 30, the owners declared a lockout, halting preparations for the start of the 1998–99 NBA season. The players and owners negotiated for six long months, … Read More
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 More
Five Fundamentals of Negotiation from Great Negotiator Tommy Koh
Negotiation as an art and negotiation as a science: Two fundamentally different statements but one cohesive element binds them together – process. … Read More
Teach Your Students to Take Their Mediation Skills to the Next Level
Mediation is a critical conflict resolution skill for students in a variety of fields: business, international relations, law, and public policy, to name a few. Once students have mastered mediation basics, they can hone their skills by trying to mediate more complex conflicts as well as by learning the key differences between facilitation and mediation. … Read More
What is Alternative Dispute Resolution?
So, you’re stuck in a serious dispute, but you’re desperate to avoid the hassle and expense of a court case. You’ve heard about alternative dispute resolution but are not sure what it entails. … Read What is Alternative Dispute Resolution?
Paternalistic Leadership: Beyond Authoritarianism
What’s your first reaction to the concept of paternalistic leadership? If you’re new to the concept and from an individualistic culture, such as the United States, Canada, Australia, or many European nations, you might dismiss the idea out of hand. After all, paternalism connotes top-down leadership, an outdated and exclusionary male-centered viewpoint, and strict authoritarianism. … Read Paternalistic Leadership: Beyond Authoritarianism
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 More
Finding Mutual Gains In “Non-Negotiation”
The National Football League’s Pittsburgh Steelers faced a dilemma. Mid-contract, the team’s star wide receiver, Antonio Brown, asked the team to improve upon the six-year, $42.5 million deal they negotiated back in 2012. Brown had risen to become the best receiver in football and believed he was underpaid. … Read Finding Mutual Gains In “Non-Negotiation”
Appealing to Sympathy When Dealing with Difficult Situations
Imagine that you are about to enter into a negotiation. Unbeknown to your counterpart, the stakes are particularly high because you are dealing with difficult situations behind the scenes. Maybe your organization is struggling financially and needs a break to stay in the black. Or you are planning to ask for a raise to help … Read More