BATNA
In negotiation, BATNA refers to your “best alternative to a negotiated agreement,” or the best outcome you can expect if you fail to reach agreement at the bargaining table with your counterpart. An evaluation of your BATNA is critical if you are to establish the threshold at which you will reject an offer. Effective negotiators determine their BATNAs before talks begin. … view posts
Business Negotiations
Effective business negotiation is a core leadership and management skill. This is the ability to negotiate effectively in a wide range of business contexts, including dealmaking, employment discussions, corporate team building, labor/management talks, contracts, handling disputes, employee compensation, business acquisitions, vendor pricing and sales, real estate leases, and the fulfillment of contract obligations. Business negotiation is critical to be creative in any negotiation in a business setting. … view posts
Conflict Resolution
Conflict resolution is the process of resolving a dispute or a conflict by meeting at least some of each side’s needs and addressing their interests. Conflict resolution sometimes requires both a power-based and an interest-based approach, such as the simultaneous pursuit of litigation (the use of legal power) and negotiation (attempts to reconcile each party’s interests). There are a number of powerful strategies for conflict resolution. … view posts
Crisis Negotiations
In examining crisis negotiation, analysts discovered that even the most experienced executives have difficulty resolving a situation that feels like a hostage negotiation. These lessons, taken from crisis negotiation situations and hostage negotiators’ techniques, can help in a variety of crisis negotiation conditions. For example, hostage negotiators follow certain rules that can be applied to your own crisis negotiation. … view posts
Dealing with Difficult People
Dealing with difficult people involves negotiating with counterparts you mistrust, dislike, or even think are "evil." Nonetheless, a skilled negotiator knows where to find and create value in any negotiation. When dealing with difficult people, integrative bargaining strategies, including knowledge of your BATNA (best alternative to a negotiated agreement) and ZOPA (zone of possible agreement), will help you overcome any perceived differences between yourself and your counterpart … view posts
Dealmaking
Dealmaking is defined as the art of crafting deals through negotiations focused on an integrative, or value-creating process, rather than through distributive bargaining, or a haggling process. Dealmaking includes the range of activities both at the bargaining table and away from it that seek to bring two or more parties together toward some common end, whether it is the sale of an asset, a vendor agreement, or a merger between corporations. … view posts
Dispute Resolution
Dispute resolution generally refers to one of several different processes used to resolve disputes between parties, including negotiation, mediation, arbitration, collaborative law, and litigation. Dispute resolution is the process of resolving a dispute or a conflict by meeting at least some of each side’s needs and addressing their interests. Dispute resolution strategies include fostering a rapport, considering interests and values separately, appealing to overarching values, and indirect confrontation. … view posts
International Negotiation
International negotiation requires the ability to meet special challenges and deal with the unknown. Even those experienced in cross-cultural communication can sometimes work against their own best interests during international negotiations. Skilled business negotiators know how to analyze each situation, set up negotiations in ways that are advantageous for their side, cope with cultural differences, deal with foreign bureaucracies, and manage the international negotiation process to reach a deal. … view posts
Leadership Skills
People who leverage powerful leadership strategies are adept and skilled negotiators. Experience certainly informs these leadership skills, but negotiation training will take a negotiator's negotiation skills to the next level. Leadership skills and negotiation involves an analysis of complicated negotiation case studies as well as learning an array of sophisticated competitive and cooperative negotiating strategies. … view posts
Mediation
Mediation is a process of third-party involvement in a dispute. A mediator cannot impose an outcome but rather assists the disputing parties in reaching their own agreement. Mediation can be used in a wide range of disputes, including labor disputes, public policy disputes, disagreements among nations, family disputes, and neighborhood and community quarrels. According to research, about 80% of dispute mediations lead to resolution. … view posts
Negotiation Skills
Negotiation is a deliberative process between two or more actors that seek a solution to a common issue or who are bartering over an item of value. Negotiation skills include the range of negotiation techniques negotiators employ to create value and claim value in their dealmaking business negotiations and beyond. Negotiation skills can help you make deals, solve problems, manage conflicts, and build relationships as well as preserve relationships. … view posts
Negotiation Training
Negotiation training refers to the range of activities and exercises you can undertake to improve or sharpen your negotiation skills. The Program on Negotiation includes articles discussing the latest role-play simulations and field research, articles on effective negotiation training for you and your organization, as well as the research work of pioneers in the field of negotiation. … view posts
Salary Negotiations
Teaching Negotiation
Teaching negotiation includes instructional areas such as deal setup and design, dispute resolution systems, arbitration, mediation, and meeting facilitation as well as the use of interactive role-play exercises, books, videos, training materials and role-play simulations designed around a specific negotiation skill or concept. The Program on Negotiation’s educational resource center, known as the Teaching Negotiation Resource Center (TNRC), develops a wide-range of role-play simulations … view posts
Win-Win Negotiations
Win-win negotiations are those negotiations in which each party walks away from the bargaining table having achieved its goals within the confines of an integrative, or value-creating, bargaining process rather than through a haggling, or distributive, bargaining process. Win-win negotiation is a principle feature of integrative bargaining and is promoted by the Program on Negotiation throughout its literature and research. Win-win strategies are all about increasing your opponent’s satisfaction even as you achieve the outcome you desire. … view posts