The choice: arbitration vs. mediation. You’re not sure which of two common dispute resolution processes, mediation or arbitration, to use to resolve your conflict. Mediation is appealing because it would allow you to reach a collaborative settlement, but you’re worried it could end in impasse. You know that arbitration would wrap up your dispute resolution … Read More 
Discover step-by-step techniques for avoiding common business negotiation pitfalls when you download a copy of the FREE special report, Business Negotiation Strategies: How to Negotiate Better Business Deals, from the Program on Negotiation at Harvard Law School.
business deal
What is Negotiation in a Business Deal?
With the right good-faith negotiation strategies, you can build trust and make a favorable business deal with just about anyone.
When it comes to closing a business deal, agreements sometimes fall apart for good reasons. If one or more parties realize they could get better outcomes elsewhere or don’t see how they can work together in the future, there’s no sense in investing further time and effort.
But many of us head into a business negotiation focused on our differences. However, negotiation experts at Harvard University suggest looking for hidden similarities instead. Identifying shared interests that aren’t competitive can pave the way to a solution that benefits all parties.
The more time you spend getting to understand your counterparts and their organizations, the better equipped you will be to assess whether your partnership is a good idea or not.
Closing a business deal is a complex process—and, notably, even when we give it our best efforts, it’s not always the best option. But you can be better equipped to identify when a deal is within reach as well as when you should explore other opportunities.
Effective negotiation strategies in business are critical. If you don’t know how to negotiate a business deal, get the information you need to succeed today by downloading our free special report, written by some of the nation’s foremost experts in negotiation, Business Negotiation Strategies: How to Negotiate a Better Business Deal. It will teach you how to negotiate a business deal and gives you the tools you need to navigate even the stickiest business deals.
We will send you a download link to your copy of the report and notify you by email when we post new business negotiation advice and information on how to improve your dealmaking skills to our website.
The following items are tagged business deal:
Harvard Negotiation Master Class: Advanced Strategies for Experienced Negotiators – November 18–20, 2024
Strictly limited to 60 participants who have completed a prior course in negotiation, this first-of-its-kind program offers unprecedented access to experts from Harvard Law School, MIT, and the Harvard Kennedy School—all of whom are committed to delivering a transformational learning experience.
… Read More
Business Negotiation Strategies: How to Negotiate Better Business Deals
Written by some of the nation’s foremost experts in negotiation, Business Negotiation Strategies: How to Negotiate a Better Business Deal gives you the tools you need to navigate even the stickiest business deals.
… Read More
Right of First Refusal: A Potentially Win-Win Negotiation Tool
Looking for ways to get more value out of your sales negotiations? You may be able to do so by negotiating a right of first refusal. A right of first refusal, also known as a matching right or right of first offer, is a contractual guarantee that one party to a business deal can match … Read More
Dealmaking: Secrets of Successful Dealmaking in Business Negotiations
Discover how to boost your power at the bargaining table in this free special report, Dealmaking: Secrets of Successful Dealmaking in Business Negotiations, from Harvard Law School.
… Read More
Framing in Negotiation
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 Framing in Negotiation
How to Negotiate a Business Deal
In late 2016 and early 2017, news stories abounded of companies that were having second thoughts about planned mega-mergers. Abbott Laboratories began looking for ways to exit its acquisition of Alere, citing investigations of the medical test maker, for example. And Verizon started rethinking its acquisition of Yahoo! following a data breach at the tech … Read How to Negotiate a Business Deal
Trump’s Negotiating Style as President-Elect
Donald J. Trump entered the Oval Office with considerable dealmaking experience in the business world. But his blank slate as an elected official combined with his fluctuating positions on key issues such as immigration and tax policy throughout the presidential race left many wondering what his negotiating style would be.
In the months between being elected U.S. president … Read Trump’s Negotiating Style as President-Elect
7 Tips for Closing the Deal in Negotiations
“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
The Inseparable Link Between Effective Leadership and Communication
Effective leadership and communication go hand in hand, especially when it comes to negotiating a leadership role in an organization.
… Read More
Lessons for Business Negotiators: Negotiation Techniques from International Diplomacy
Executives rarely view themselves as diplomats engaged in international diplomacy but business negotiators often find the two fields share negotiation skills and negotiation techniques. Rightly or wrongly, diplomacy evokes images of frivolity – days spent wandering exotic capitals, nights spent cruising embassy cocktail parties.
… Read More
Dear Negotiation Coach: Managing Perceptions
Sometimes a negotiation is all about managing perceptions. As this question below shows, focusing a counterpart on his own BATNA can persuade him to reduce the intensity of his hard-bargaining tactics.
Q: A customer is pressuring me to make a deal fast. I don’t want to be forced into a one-sided agreement and prefer to reach … Read Dear Negotiation Coach: Managing Perceptions
Alternative Dispute Resolution (ADR) Techniques: Negotiating Conditions
A married couple was debating whether their four-year-old daughter should attend public or private elementary school. It was a difficult issue, and Mike had a tendency to walk out when the conversation got heated. Frustrated, Lisa turned to negotiating terms and conditions just as a negotiator would in a business deal.
… Read More
Closing the Deal in Negotiations When Win-Win Seems Likely
Excerpted from the article “Will Your Negotiation Make It to the Finish Line?” in the December 2020 issue of Negotiation Briefings, the Program on Negotiation’s monthly newsletter of advice for professional negotiators.
When it comes to closing the deal in negotiations, agreements sometimes fall apart for good reason. If one or more parties realize they could … Read More
Right of First Refusal for Real Estate
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 Right of First Refusal for Real Estate
Negotiating From a Social Distance
As the COVID-19 virus began to spread through the United States, Xerox CEO John Visentin announced on March 13 that the company was putting its hostile takeover of HP on hold in order to “prioritize the health and safety of its employees, customers, partners and affiliates over and above all other considerations.”
With health experts worldwide advising citizens … Read Negotiating From a Social Distance
Conflict Negotiation Strategies for Business Negotiators
When closing a deal, new business partners are typically optimistic about the path ahead. But somewhere down the line, conflict is almost inevitable. One party may miss a deadline. The two sides may interpret contract terms differently. Changing economic conditions may make it difficult for one side to uphold its end of the deal.
When a … Read More
Mediation Used in Dispute Resolution Over Art Museums
When partners are negotiating a new business deal, overconfidence can lead them to overlook the possibility that the business will fail or otherwise struggle. Wise negotiators envision not only the best-case scenario, but the worst-case scenario, and prepare for it before signing on the dotted line.
… Read More
How an Indie-Pop Band Used Integrative Negotiation to Keep Their Name
When interests collide, some managers dig in their heels: You get your way or I get mine. Others go for a compromise where the plan is to give up as little as possible. Neither strategy is likely to lead to the best outcome. But businesses, nonprofits, government agencies … and even rock ‘n’ rollers … … Read More
Negotiation and Leadership
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- Business Negotiations
- Conflict Resolution
- Crisis Negotiations
- Dealing with Difficult People
- Dealmaking
- Dispute Resolution
- International Negotiation
- How to Overcome Cultural Barriers in Communication – Cultural Approximations of Time and the Impact on Negotiations
- Cross Cultural Negotiations in International Business: Four Negotiation Tips for Bargaining in China
- Top International Negotiation Examples: Apple’s Apology in China
- Negotiation Team Dynamics: The Divide-and-Conquer Strategy
- Best Negotiators in History: Nelson Mandela and His Negotiation Style
- Leadership Skills
- Mediation
- Negotiation Skills
- Negotiation Training
- Salary Negotiations
- Teaching Negotiation
- Win-Win Negotiations