Negotiators are more satisfied with the outcome of a negotiation when they think the process has been fair, research shows. To maximize satisfaction and build a strong working relationship, don’t leave the process of business negotiation up to chance. Given the importance of negotiation in business communication, you’d be wise to consider the following seven … Read More
In sales negotiations, making the first offer is often a smart move. The first offer can anchor the discussion that follows and can have a powerful effect on the final outcome.
But if the other party makes the first offer, you’ll need to be prepared to frame your counteroffer carefully. What is framing in negotiation? It … Read More
David Schwimmer, the actor who played Ross on the hit television comedy Friends, famously convinced the show’s five other leads in the early years of its run to negotiate their contracts with NBC as a team. The “mini union” formed by the actors ultimately helped them negotiate an unprecedented $1 million each per episode during … Read More
We’ve all shared a meal with a negotiating counterpart at one point or another, whether a business lunch, a working dinner, or sandwiches in a conference room. What are the advantages and potential pitfalls of combining food and drink with negotiation? Here, we offer business negotiation solutions for those who are trying to decide whether … Read More
In business negotiations, a little power is better than none at all, right? After all, if talks with a prospective client fail, we’d rather have a few unpromising leads to turn to rather than none.
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After engaging in the complex process of business negotiation, business negotiators are often happy to pass off the technicalities of deal drafting to their attorneys. Unfortunately, this handoff is prone to errors. Vague, contradictory, and missing deal terms are not uncommon, and they can lead to serious problems during the implementation stage, according to Harvard … Read More