interest based negotiation
What is Interest-Based Negotiation?
An interest-based negotiation is one in which parties share the interests that underlie their grievances and try to jointly negotiate a solution that satisfies all parties.
Interest-based negotiation, or integrative negotiation, involves exploring the deeper interests underlying parties’ stated positions to identify potential tradeoffs and win-win opportunities across issues and interests.
Negotiation ultimately involves a choice between the deal you’ve been offered and what you would get by walking away from the table. Thus, the negotiation process should involve a search for solutions that leave both parties better off than they would be if they reached an impasse and turned to their outside options.
It turns out that interest-based negotiation has proven to be the most reliable way to create value and resolve conflicts.
When you know the areas of agreement where you and your counterpart are in alignment (and those areas on which you diverge), a skilled negotiator can craft an agreement that most closely approximates her own and her counterpart’s needs while building a bargaining relationship with her counterpart. Rather than antagonistic, the negotiation process becomes a value-creating, integrative situation in which each side gets a “fair share” of the pool of resources.
By listening closely to each other, treating each other fairly, and jointly exploring options to increase value, negotiators can find ways of working together that reduce the need to rely on hard-bargaining tactics and unnecessary concessions.
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