bargain

The following items are tagged bargain:

Dealing with Difficult People

Posted by & filed under Free Report.

At the Program on Negotiation at Harvard Law School (PON), we are dedicated to helping professionals deal with hard bargainers and resolve even the most challenging disputes. To help you understand the principles of negotiation and conflict resolution, we put together a special report: Dealing With Difficult People. Discover how to collaborate, negotiate, and bargain … Read More 

Framing in Negotiation

Posted by & filed under Business Negotiations.

So, you’ve offered what you think is a great deal, but your counterpart doesn’t seem to agree. What’s the problem? The offer may be excellent—it’s how you’ve approached framing in negotiation that’s holding you back. … Read More 

Why Negotiations Fail

Posted by & filed under Negotiation Skills.

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 More 

The Benefits of Coalitions at the Bargaining Table

Posted by & filed under Negotiation Skills.

Labor unions may be the most obvious example of a negotiating coalitions. When a company negotiates with an employee individually, it could threaten to hire someone else in the face of the employee’s demands. By contrast, when employees bargain collectively through a union, they avoid the need to compete against one another (at least on … Read More 

Integrative Negotiation Examples: Making Wise Bets on the Future in Bargaining Scenarios

Posted by & filed under Negotiation Skills.

A town government and a private fuel-oil company have a standing contract that they have renewed for several years in a row. The contract is again up for renewal, and the town manager is under pressure from his constituents to reduce the city’s heating costs and avoid tax increases. The city’s fuel-oil consumption has remained … Read More 

Negotiation Skills and Bargaining Techniques from Female Executives

Posted by & filed under Leadership Skills.

Dozens of female CEOs and other high-level women negotiators have told us about their experiences negotiating in traditionally masculine contexts where standards and expectations were ambiguous. Their experiences varied according to the gender triggers that were present in the negotiations and they adapted their negotiation skills to accommodate these shifts. … Read More 

Salary Negotiation: How to Ask for a Higher Salary

Posted by & filed under Salary Negotiations.

For a new employee, salary negotiation skills can be the most important and the most intimidating, but the most important, of difficult conversations to have at the beginning of your career. A new employee, successfully negotiating a salary offer up by $5,000 could make a huge difference over the course of her career. … Read More 

Learning From Negotiation Role-Plays

Posted by & filed under Teaching Negotiation.

It’s a familiar practice in negotiation training: Students are divided up and assigned to engage in role-play exercises known as simulations. Each person reads confidential information about her role, the two (or more) players get together and negotiate, and then the class reconvenes to debrief the experiences. Simulation took root as a common method for teaching … Read More 

BATNA Examples—and What You Can Learn from Them

Posted by & filed under BATNA.

What is a BATNA in negotiation? In their bestseller Getting to Yes: Negotiating Agreement Without Giving In, Roger Fisher, William Ury, and Bruce Patton (Penguin, 1991) described BATNA, or best alternative to a negotiated agreement, as the path you’ll follow if you don’t reach agreement in your current negotiation. Awareness of your BATNA will keep you … Read More 

How to Negotiate Salary: 3 Winning Strategies

Posted by & filed under Salary Negotiations.

The question of how to negotiate salary seems to preoccupy negotiators more than any other—and with good reason, considering how dramatically even a small salary increase can impact our lifetime earnings. The following three salary bargaining tips from leading negotiation experts will help you gain more from your new-job negotiations. … Read More 

Signing Bonus Negotiation 101

Posted by & filed under Business Negotiations.

After engaging in a successful salary negotiation for a coveted job, most people are ready to shake hands and start sharing the good news with friends and family. But these days, there may be one more negotiation you should consider launching before saying yes: a signing bonus negotiation. … Read More 

Famous Negotiations Cases – NBA and the Power of Deadlines at the Bargaining Table

Posted by & filed under Crisis Negotiations.

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 

Types of Negotiation for Business Professionals

Posted by & filed under Uncategorized.

What is negotiation? In her book The Mind and Heart of the Negotiator, Northwestern University professor Leigh Thompson defines negotiation as “an interpersonal decision-making process necessary whenever we cannot achieve our objectives single-handedly.” This definition stresses the interdependence that’s fundamental to any negotiation. Narrowing in on this definition, when preparing to negotiate, business professionals often wonder … Read More 

Right of First Refusal for Real Estate

Posted by & filed under Uncategorized.

If you are interested in buying the property you’re renting, but aren’t able to do so immediately, you may benefit by negotiating a right of first refusal from the property owner. A right of first refusal for real estate can create value for buyers and sellers alike. But what is “right of first refusal” in … Read More 

Negotiation Example: When Michael Bloomberg and NYC Teachers Both Lost

Posted by & filed under Mediation.

It’s hard to imagine a negotiation example in which negotiating counterparts would choose to sacrifice hundreds of millions of dollars rather than reach agreement. But back in 2013, this is the choice that New York City and its teachers union, the United Federation of Teachers (UFT), made when they declared impasse on a new teacher evaluation … Read More 

Negotiation research you can use: Should you brandish your BATNA?

Posted by & filed under BATNA.

On August 23, the British government unveiled an initial set of contingency plans for exiting the European Union (E.U.) in the event the so-called Brexit negotiations end in impasse. Brexit negotiations have been slow and contentious, stymied most recently by infighting within factions of the British government about how closely to bind the nation’s economy … Read More 

Compensation Negotiation Tips for Salary Bargaining

Posted by & filed under Salary Negotiations.

Job candidates are often eager for compensation negotiation tips, and with good reason: they tend to be at a bargaining disadvantage relative to the hiring organization. Due to the well-documented anchoring effect, the first figure introduced into the discussion can strongly influence the final outcome—and the wage or wage range cited by employers is likely … Read More 

MESO: Make Multiple Equivalent Simultaneous Offers to Create Value in Dealmaking Table

Posted by & filed under Conflict Resolution.

MESO negotiation, a negotiation strategy for creating value with a counterpart who may be reluctant to negotiate, allows negotiators to propose multiple offers without signaling commitment or preference for any one option. Business negotiators that practice integrative negotiation strategies often complain that although they try to focus on creating value, they run into far too many difficult … Read More 

A Criminal Plea Bargain Simulation

Posted by & filed under Daily, Negotiation Skills.

The Teaching Negotiation Resource Center (TNRC) at PON offers hundreds of role simulations, from two-party, single-issue negotiations to complex multi-party exercises. State v. Huntley is a two-party criminal plea bargain negotiation between a prosecutor and a public defender for a man charged with aggravated rape. Criminal Plea Bargain Scenario: Two police officers on routine patrol were … Read More 

Price Negotiation Advice for Consumers

Posted by & filed under Business Negotiations.

It’s official: Price negotiations aren’t just for big-ticket items anymore. The prices of furniture, electronics, wine, jewelry, and other “medium-ticket” goods are now frequently up for discussion. The ancient art of haggling has made a comeback, so brush up on your skills with our six price negotiation tactics. … Read More 

How to Negotiate a Higher Salary

Posted by & filed under Salary Negotiations.

When considering how to negotiate a higher salary, job candidates often focus on back-and-forth haggling strategies. But it’s at least as important to think about our broader goals, the type of organization we’d be joining, and the best way to frame an offer. The following advice on how to bargain salary should set you up … Read More 

Preparing for the worst in business negotiations

Posted by & filed under Business Negotiations.

In the #MeToo era, entertainment companies are pushing for broad morality clauses in their employment contracts—and raising the larger question of how to manage risk in negotiation. After dozens of accusations of sexual abuse and assault against film producer Harvey Weinstein launched the #MeToo movement, entertainment companies began incurring significant financial and reputational damage from alleged misbehavior … Read More 

For Better Negotiation Training, Study the U.S. Government’s Mistakes

Posted by & filed under Negotiation Training.

Business professionals seeking to improve their negotiation training can learn a great deal from the mistakes made in newsworthy negotiations. To take one recent example, Steven M. Davidoff of the New York Times’ “DealBook” recently analyzed how the U.S. governments rushed negotiations to save U.S. automaker Chrysler led to a costly long-term problem. … Read More 

Negotiation Preparation Strategies

Posted by & filed under Business Negotiations.

When an important negotiation is looming, “winging it” is never the answer. The best negotiators engage in thorough negotiation preparation. That means taking plenty of time to analyze what you want, your bargaining position, and the other side’s likely wants and alternatives. … Read More 

Successes & Messes: The Florida Marlins sale: Did one bad deal beget another?

Posted by & filed under Business Negotiations.

The fallout from a disadvantageous negotiation can reverberate for years to come. That’s what the City of Miami is learning from its 2009 stadium deal with Florida Marlins owner Jeffrey Loria as he reached an agreement to sell the team this past August. Off to a winning start Loria launched his career as a Major League Baseball … Read More 

For Price Negotiators, Preparation is the Key to Success

Posted by & filed under Dealmaking.

Some cultures have a long tradition of haggling—bargaining back and forth about the price of an item—in markets and bazaars. By contrast, in the United States and many other countries, haggling between buyers and sellers is an under-practiced skill. You might routinely pass up opportunities to haggle in situations where financial negotiations are not the … Read More 

Deal-Making Negotiation Strategies: Short on Cash? Try Bartering

Posted by & filed under Dealmaking.

In an economic downturn, negotiation opportunities sometimes dry up because parties think they have nothing left to give. During times like these, bartering flourishes. This article will help you decide how and when to include bartering as a component of your negotiations. Here are four guidelines to help you bargain successfully at the negotiation table. … Read More 

Resolving Conflicts Over Deeply Held Values

Posted by & filed under Conflict Resolution.

Astronomers consider Mauna Kea, a dormant volcano that rises more than two miles above the Pacific Ocean on the island of Hawaii, to be the premier site in the world for viewing the night sky. Due to the volcano’s high altitude and tranquil, dark nights, NASA and groups of scientists from around the globe began … Read More 

Negotiation Research: When Many Alternatives Are Worse Than One

Posted by & filed under BATNA.

Negotiators are often taught that the more alternatives they have, the more fortunate they are. If it’s good to have one strong best alternative to a negotiated agreement, or BATNA, then it’s better to have many alternatives, right? Not necessarily, results from a new study by Michael Schaerer of INSEAD and his colleagues show. In a … Read More 

Successes & Messes: A Notoriously Bad Deal

Posted by & filed under Business Negotiations.

In business negotiations, we’re sometimes tempted to break the mold and do things in a new and entirely different way. But if our strategies aren’t supported by sound analysis and advice, we risk winding up with regrets. Take the case of star running back Ricky Williams, now retired, and the sports agency he worked with as … Read More 

Creating and Claiming Value Through Haggling – Assess The Other Party’s BATNA in Dealmaking Negotiations

Posted by & filed under BATNA.

Now it’s time to assess the best deal you might get. Figuring out the other party’s reservation price is the key to knowing how far you will be able to push him, write Deepak Malhotra and Max H. Bazerman in their book Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining … Read More 

Is Your Deal Too Good to Be True?

Posted by & filed under Business Negotiations.

In an episode of the fictional HBO series Silicon Valley, partners in a red-hot technology startup, Pied Piper, receive funding offers from a number of venture capitalist firms. Raviga Capital is by far the highest bidder; its offer of $20 million values Pied Piper at a whopping $100 million. … Read More 

A Second Look at Rights of First Refusal

Posted by & filed under Negotiation Skills.

When transferring property, sellers sometimes insist on rights of first refusal—the chance to be first in line to repurchase the property if their buyer later decides to sell. A right of first refusal can be an obvious advantage if your financial circumstances later change. … Read More 

Top 10 Celebrity Negotiations of 2015

Posted by & filed under Negotiation Skills.

Here are the top 10 celebrity negotiations from the year 2015. From integrative bargaining strategies to building bridges with counterparts in contentious talks, these negotiation scenarios demonstrate the effectiveness of collaborative, win-win negotiation tactics. … Read More 

The Fiscal Cliff and the Debt Ceiling: Program on Negotiation Chair Robert Mnookin Discusses Recent and Future Negotiations Between Congressional Republicans and the White House

Posted by & filed under Conflict Resolution.

What methodology was driving the posturing and statements behind congressional Republicans and the Obama administration’s negotiations regarding the debt ceiling and how both sides came together to avoid going off of the “fiscal cliff.” … Read More 

For More Productive Talks, Complement Your Partner’s Style

Posted by & filed under Negotiation Skills.

Negotiators who adapt their behavior to the other party may reap gains. In negotiation, we bring our unique personalities and styles to the table. A reserved, cautious person is likely to bargain differently than someone who is outgoing and proactive, for example. There is much we can do to improve our negotiation performance—such as preparing thoroughly … Read More 

Building Momentum Through Goodwill Gestures

Posted by & filed under Dealing with Difficult People.

Sometimes disputes are left to fester for years, even decades, until parties decide there is something to be gained from reaching agreement. The nations of Bangladesh and India recently seized on an opportunity to push the “restart” button on their bumpy relationship by resolving one such ongoing dispute. Living in no man’s land Until recently, on each … Read More 

Business Negotiation Techniques and Dealmaking – Bargaining with Agents

Posted by & filed under Negotiation Skills.

When using an agent in negotiation, your negotiation strategy and definitely the negotiation techniques you use to achieve success at the bargaining table change – but how much so? How different is negotiating with an agent from negotiating with an equal counterpart? In this article the Program on Negotiation explores the business negotiation techniques negotiators … Read More 

Negotiate for what you need to succeed

Posted by & filed under Salary Negotiations.

You may be adept at negotiating for your organization, but are you passing up career opportunities back at the office? One of the more interesting tidbits to emerge from the December 2014 leaks of hacked Sony Pictures data was an e-mail revealing a young actress’s efforts to be paid on the same level as her male … Read More 

Lessons in Negotiation: Guhan Subramanian Cited by US Securities and Exchange Commissioner Daniel Gallagher

Posted by & filed under Business Negotiations.

Program on Negotiation executive committee member and Harvard Law School and Harvard Business School professor Guhan Subramanian was recently cited by Commissioner Daniel M. Gallagher of the United States Securities and Exchange Commission during his opening statement at the Proxy Voting Roundtable. In discussing the equalizing effect of a universal balloting system on corporate governance, Commissioner … Read More 

Dear Negotiation Coach: Negotiations Stalled Over Price

Posted by & filed under Dealmaking.

I am trying to buy a smaller company in my industry, but the negotiations have stalled over price. It probably won’t surprise you to hear the seller thinks his company is worth a lot more than I think it is. So far we have been talking about doing a straight cash deal, but now I’m contemplating … Read More 

“No One is Really in Charge” Hostage Taking and the Risks of No-Negotiation Policies

Posted by & filed under Crisis Negotiations.

In the business world, we sometimes are tempted to avoid negotiating with unsavory counterparts—people or groups we view to be immoral, untrustworthy, or simply unlikable—even if they appear to offer the straightest path to our goals. Imagine a counterpart who works in a business that you believe to be immoral, someone who has a reputation for gossiping, or … Read More 

In Dealmaking, Look for the Needle in the Haystack

Posted by & filed under Dealmaking.

When you’re desperate to make a good deal, breakthroughs can come at unexpected times and places. Consider what happened when Assistant U.S. Attorney Richard Elias was looking through a sheaf of J.P. Morgan Chase & Co. documents while taking care of his newborn son in 2012. At the time, directed by President Barack Obama, the … Read More 

In business negotiations, share the wealth wisely

Posted by & filed under Business Negotiations.

After graduating from the University of Chicago’s business school in 1971, David G. Booth took what he had learned and ran with it. The firm he founded, Dimensional Fund Advisors, bases its investment decisions on the type of academic research Booth absorbed from his professors in Chicago. That scholarly approach has paid off: Dimensional Fund … Read More 

Detroit Moves Forward, Thanks to Mediation

Posted by & filed under Mediation.

About 15 months after becoming the largest U.S. city to file for bankruptcy, Detroit is on track to begin rebuilding and growing stronger. On November 7, a federal judge approved a plan aimed at ridding the city of its $7 billion in debt and investing about $1.7 billion in city services, the New York Times … Read More 

Dealmaking: What About the Fine Print?

Posted by & filed under Business Negotiations.

Choosing the right words for your contract is a negotiation in itself. Five guidelines will help you achieve greater precision. When negotiators sign on the dotted line, they sometimes worry about the wrong concerns. “Did I overpay?” wonders the buyer as he inks the sales agreement. Across the table, the seller is thinking, “I bet if I’d pushed … Read More 

For Detroit Pensioners, Dispute Resolution Pays Off

Posted by & filed under Dispute Resolution.

On April 15, Detroit city employees and retirees breathed a huge sigh of relief after the city’s emergency manager and its pension fund managers reached a deal that would significantly reduce proposed cuts to pension benefits, CNNMoney reports. Some civilian workers will face a 4.5% reduction in pensions and lose cost-of-living adjustments. Retired public-safety workers … Read More 

Bringing Congress back to the negotiating table

Posted by & filed under Dealmaking.

“I’ve always had a Republican partner, every time,” says former Democratic senator Chris Dodd, speaking of his legislative victories during his 30 years of service. Members of Congress do not always need bipartisan support to push through their legislative agendas, yet some of the most significant initiatives passed by the U.S. Senate and House of Representatives … Read More 

Dear Negotiation Coach: Should age be an issue?

Posted by & filed under Dealmaking.

Q:My daughter is negotiating via e-mail to hire a professional artist in the Netherlands to create cover art for a game book she created and will sell online. The price the artist quoted is high, but appropriate given his skills. My daughter, who is funding the project with her savings, is preparing to make a … Read More 

Dear Negotiation Coach: “Bad acts” and better contracts.

Posted by & filed under Dealmaking.

Q: I work for an international nonprofit that tries to eliminate “bad acts” around the world—not illegal activities, but ones that we consider unethical. We are currently negotiating with a U.S. business owner who is engaged in these bad acts. His business is generating losses, so we are trying to buy him out and put … Read More 

“Confronting Evil” Panel Videos Now Available Online

Posted by & filed under Conflict Resolution, Events, Videos.

On Saturday, April 20, 2013, the Program on Negotiation co-hosted a conference on “Confronting Evil: Interdisciplinary Perspectives,” in partnership with the Mahindra Humanities Center at Harvard University and the Volkswagen Foundation. Originally scheduled to commence on Friday, April 19th, the conference had to be condensed to a single day due to the lock-down of the Boston … Read More 

Leaving millions on the table

Posted by & filed under Mediation.

It’s hard to imagine a situation in which negotiating counterparts would choose to sacrifice hundreds of millions of dollars rather than reach agreement. But this is the choice that New York City and its teachers union, the United Federation of Teachers (UFT), made in January when they declared impasse on a new teacher evaluation system. Back … Read More 

PON co-sponsored conference addresses the challenges of “Confronting Evil”

Posted by & filed under Conflict Resolution.

On Saturday, April 20th more than a hundred people came out to Harvard to attend the PON co-sponsored conference “Confronting Evil: Interdisciplinary Perspectives.”  Held just six days after the bombings at the Boston Marathon, and one day after many area residents were asked to “shelter in place” by the police during their search for the … Read More 

Professor Mnookin’s Op-Ed in The Wall Street Journal

Posted by & filed under Daily, International Negotiation, Middle East Negotiation Initiative.

In an op-ed in The Wall Street Journal, Robert H. Mnookin, Professor at Harvard Law School and Chair of the Program on Negotiation, reflects on Israel’s recent decision to release 1,000 Palestinian prisoners in exchange for the safe return of Gilad Shalit, an Israeli soldier captured by Hamas.  From a negotiating standpoint, according to Mnookin, … Read More 

Let Them Compare and Contrast

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Will Your Proposals Hit the Mark?” First published in the Negotiation newsletter. In negotiation, it’s always better when someone accepts your offer rather than rejecting it, right? Actually, rejection can sometimes be the most effective way to get to “yes.” Let’s look at another story about consumer behavior, as described by Itamar Simonson of Stanford’s … Read More 

Find Strength in Numbers

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Make Your Weak Position Strong,” by Deepak Malhotra (professor, Harvard Business School), first published in the Negotiation newsletter. A common complaint among managers and executives who attend negotiation courses and seminars is that they don’t learn enough about negotiating from a position of weakness. What can you do when you have a weak BATNA, … Read More 

Securities fraud plea bargain

Posted by & filed under Daily, Negotiation Skills.

The Clearinghouse at PON offers hundreds of role simulations, from two-party, single-issue negotiations to complex multi-party exercises. United States v. Dunlop is a four-person, three-issue, two-round exercise between U.S. prosecutors, an executive charged with securities fraud, and defense counsel over the terms of a possible plea bargain; attorney-client interviews are followed by … Read More 

Should you be nasty or nice?

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Honey or Vinegar?”, first published in the Negotiation newsletter. Who brings out the best in us: someone nice or someone nasty? According to a recent study by Gerben A. van Kleef and colleagues of the University of Amsterdam, we may be more generous toward angry people than toward happy people. In the first two … Read More 

Should you bargain with the Devil?

Posted by & filed under Conflict Resolution.

In an age of terror, our national leaders face this sort of question every day. Should we negotiate with the Taliban? Iran? North Korea? What about terrorist groups holding hostages?” In his new book, Bargaining with the Devil: When to Negotiate, When to Fight, Robert Mnookin, Chair of the Program on Negotiation at Harvard Law School, … Read More