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.


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Negotiating the Impossible

Posted by & filed under 1 Day Courses.

Bonus day for May Negotiation and Leadership program. In this one-day program, based on his acclaimed book, Negotiating the Impossible: How to Break Deadlocks and Resolve Ugly Conflicts (Without Money or Muscle), Malhotra identifies principles for breaking impasses and resolving conflicts when things seem impossible, and provides scores of actionable lessons from behind-the-scenes stories of fascinating … Read Negotiating the Impossible 

5 Common Negotiation Mistakes and How You Can Avoid Them

Posted by & filed under Negotiation Skills.

Sometimes our negotiation mistakes are glaring: We accidentally reveal our bottom line, criticize the other party when patience was warranted, or get our numbers mixed up. More often, though, our negotiation mistakes are invisible: We get a perfectly good deal but are unaware that we could have gotten a better one if we hadn’t succumbed … Read More 

6 Bargaining Tips and BATNA Essentials

Posted by & filed under BATNA.

The best bargaining tips taught by the experts should offer ways to enhance your bargaining power in negotiation. To do this, you must cultivate a strong BATNA, or best alternative to a negotiated agreement. The more appealing your best alternative is, the more comfortable you will feel asking for more in your current negotiation—secure in … Read 6 Bargaining Tips and BATNA Essentials 

Implicit and Explicit Bias: When Negotiators Discriminate Based on Race

Posted by & filed under Leadership Skills.

Implicit and explicit bias are common, whether the guilty parties are aware of it, or not.  On July 14, 2015, American Honda Finance Corporation (AHFC), the U.S. financing division of Japanese car manufacturer Honda, agreed to refund $24 million to minority borrowers to settle federal investigations. AHFC was alleged to have racially discriminated against the … Read More 

Negotiating Skills: How to Bargain “Behind the Table”

Posted by & filed under Negotiation Skills.

After the fall of the Berlin Wall in 1989, U.S. president George H. W. Bush and his secretary of state, James Baker, were eager to win international support for German reunification and German membership in NATO. But Soviet president Mikhail Gorbachev faced strong opposition to these measures from members of his own Communist Party. Both … Read More 

Negotiating with Liars: Bluffing versus Puffing

Posted by & filed under Negotiation Skills.

How many time have you sat at the bargaining table, and wondered, “am I negotiating with liars?” And to your own self be true—how many times have you been untruthful in a negotiation? The example below shines a light on how lies can get negotiators into hot water. Back in July 2014, Jesse Litvak, the former … Read Negotiating with Liars: Bluffing versus Puffing 

What is Anchoring in Negotiation?

Posted by & filed under Negotiation Skills.

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

Posted by & filed under Dealmaking.

“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 

Understanding Different Negotiation Styles

Posted by & filed under Negotiation Skills.

In the business world, some negotiators always seem to get what they want, while others more often tend to come up short. What might make some people better negotiators than others? The answer may be in part that people bring different negotiation styles and strategies to the bargaining table, based on their different personalities, experiences, … Read Understanding Different Negotiation Styles 

Managing Cultural Differences in Negotiation

Posted by & filed under International Negotiation.

It’s important to educate yourself about your counterpart’s culture so that you don’t risk offending her or seeming unprepared. At the same time, it would be a mistake to focus too narrowly when preparing for cross-cultural communication in business. Research on international negotiation can help us think more broadly when it comes to managing cultural … Read Managing Cultural Differences in Negotiation 

Negotiation Examples in Real Life: Buying a Home

Posted by & filed under Business Negotiations.

While many of our articles discuss negotiation theory and the latest research, sometimes it helps to discuss negotiation examples in real life when offering negotiation tips and advice. The following negotiation example is based on bargaining in real estate, a negotiation scenario many of us may face in our lifetime. … Read Negotiation Examples in Real Life: Buying a Home 

BATNA Strategy: Negotiating When Negotiation Is Not the Norm

Posted by & filed under BATNA.

Many U.S. law schools are in crisis, to hear some tell it. During the recent recession, many law firms instituted mass layoffs and pay cuts, and few have fully recovered. As a result, college graduates are thinking twice about becoming lawyers, and many law schools have fewer high-quality applicants to choose from. In the past … Read More 

Take your BATNA to the Next Level

Posted by & filed under BATNA.

If your current negotiation reaches an impasse, what’s your best outside option? Most seasoned negotiators understand the value of evaluating their BATNA, or best alternative to a negotiated agreement, a concept that Roger Fisher, William Ury, and Bruce Patton introduced in their seminal book, Getting to Yes: Negotiating Agreement Without Giving In (Penguin, 1991, second … Read Take your BATNA to the Next Level 

Negotiation Logistics: Best Practices for Better Deals

Posted by & filed under Dealmaking.

Negotiators are often so intent on preparing for the substance of a negotiation—researching the other party, analyzing their alternatives, and so on—that they neglect to devote adequate time to critical negotiation logistics, such as where to negotiate, how formal or informal talks should be, and even the shape of the negotiating table. Before the official start … Read More 

What is Distributive Negotiation and Five Proven Strategies

Posted by & filed under Dealmaking.

Most negotiations call for very different, even opposing, skills: collaboration and competition. To get a great deal, we typically must work with others to find new sources of value while also competing with them to claim as much of that value for ourselves. Before mastering the intricacies of value creation in negotiation, it helps to … Read More 

Negotiators: Resist Vividness Bias in Negotiations

Posted by & filed under Salary Negotiations.

Vividness bias is the tendency to overweight the vivid and prestigious attributes of a decision, such as salary or an employer’s status, and underweight less impressive issues, such as location or rapport with colleagues. Let’s talk about a clear vividness bias example from 2015 in Major League Baseball. For the New York Mets, it was hard … Read More 

In Negotiation, How Much Authority Do They Have?

Posted by & filed under Business Negotiations.

While hammering out an agreement during negotiation, a mid-level manager offered a customer a significant price discount. When the discount failed to materialize, the customer sued. In response, company representatives argued that the manager did not have the authority to offer the discount. Who is right? … Read In Negotiation, How Much Authority Do They Have? 

Why Great Negotiators Earn More Money

Posted by & filed under Salary Negotiations.

What’s the best way to claim more money in a negotiation? Many professional negotiators would recommend hard-bargaining tactics, such as asking the other party to disclose their bottom line, standing firm on price, and threatening to walk away. But truly great negotiators recognize that using haggling strategies alone may leave significant money on the table. … Read Why Great Negotiators Earn More Money 

How to Find the ZOPA in Business Negotiations

Posted by & filed under Business Negotiations.

In business negotiation, two polar-opposite errors are common: reaching agreement when it wouldn’t be wise to do so, and walking away from a mutually beneficial outcome. How can you avoid these pitfalls? Through careful preparation that includes an analysis of the zone of possible agreement, or ZOPA in business negotiations. … Read How to Find the ZOPA in Business Negotiations 

Value Conflict: What It Is and How to Resolve It

Posted by & filed under Conflict Resolution.

Some of our most heated negotiations and disputes involve value conflict over our core values, such as our personal moral standards, our religious and political beliefs, and our family’s welfare. Consider these value conflict examples:

Business partners clash over the ethical standards they expect each other to uphold. A negotiator refuses to do business with a potential counterpart … Read Value Conflict: What It Is and How to Resolve It 

3 Keys to Effective Leadership in Difficult Negotiations

Posted by & filed under Conflict Resolution.

A medical facility might not be the first place you think of for effective leadership in a negotiation. But that’s precisely what took place between a doctor and his patients. At Memorial Sloan Kettering Cancer Center (MSKCC) in New York City, a leading cancer research and treatment institution, doctors often will advise men who are … Read More 

How to Control Your Emotions in Conflict Resolution

Posted by & filed under Conflict Resolution.

To guard against acting irrationally or in ways that can harm you, authors of Beyond Reason: Using Emotions As You Negotiate Roger Fisher and Daniel Shapiro advise you to take your emotional temperature during a negotiation. Specifically, try to gauge whether your emotions are manageable, starting to heat up, or threatening to boil over. … Read More 

Business Negotiation Skills: How to Deal with a Failing Business Partnership

Posted by & filed under Business Negotiations.

It had seemed like the beginning of a fruitful relationship. In April 2012, six wealthy businessmen teamed up to buy the Philadelphia Inquirer and several affiliated businesses for $61.1 million, promising to work together to reverse the newspaper’s flagging fortunes. Their infusions of cash and appointment of a Pulitzer Prize–winning reporter, William K. Marimow, as … Read More 

Dear Negotiation Coach: Eliminating Unconscious Biases at Work By Naming Them

Posted by & filed under Leadership Skills.

Black men and women continue to be vastly underrepresented in leadership roles in corporate America due to unconscious biases in the workplace, amongst other reasons that may be more conscious. Those who advance in majority-white organizations encounter both covert and overt bias, and often struggle to feel authentic and connected, write contributors to the book … Read More 

Dressing for Success: How Wealth and Status Cues Affect Business Negotiation

Posted by & filed under Negotiation Skills.

In business negotiations, we know we’re supposed to focus on substance: which issues matter to both sides, what each party can afford, what each side’s outside alternatives are, how to build a strong relationship, and so forth. Yet we’re often swayed by more superficial, often irrelevant aspects of negotiation, such as the shape of the table, whether … Read More 

Try a Game-Changing Move in Your Next “Negotiauction”

Posted by & filed under Dealmaking.

Increasingly in the business world, negotiators must compete not only with their counterpart across the table but also with others fighting for the same deal. A procurement officer may announce to a longtime supplier that she is putting their contract up for an auction for the first time, for example. Or competitors bidding for a … Read More