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3 Team-Building Techniques for Successful Negotiations

Posted by & filed under Business Negotiations.

Newly formed teams are often encouraged or even required to engage in team-building techniques and exercises, which might range from volunteering at a nonprofit together to sharing little-known secrets about each other to building a tower out of marshmallows and spaghetti. Although such activities can be effective at building bonds and trust, they don’t do … Read More 

Fresh Air

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Candace Modlin and Robert C. Bordone Two-party or two-team, multi-issue, integrative/distributive negotiation between representatives of a new low-cost airline and a potential headquarters city over an incentives package and airport facilities … Read More 

Development on Bay Island

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Rafael Montalvo and Bruce Stiftel Two-party distributive negotiation between a developer and a city representative over the amount of money the developer will pay the city to defray costs associated with development … Read More 

When Not to Show Your Hand in Negotiations

Posted by & filed under Negotiation Skills.

Here, we consider four types of information that may be best kept under wraps: sensitive or privileged information, information that isn’t yours to share, information that diminishes your power, and information that may fluctuate during negotiations. Fearful of being hurt by revealing too much information, most negotiators play their facts and preferences close to the vest. … Read More 

5 Types of Negotiation Skills

Posted by & filed under Negotiation Skills.

Businesspeople who are looking for effective negotiation strategies often confront a dizzying array of advice. It can be useful to take a step back and categorize these strategies into various types of negotiation tactics. Highlighting the benefits of negotiation in business, the following five types of negotiation tactics can help you think more broadly about … Read More 

When First Offers Fail

Posted by & filed under Dealmaking.

In negotiation, the party who makes the first offer often gets the lion’s share of the value. That can be due to the anchoring effect, or the tendency for the first offer to “anchor” the bargaining that follows in its direction, even if the offer recipient thinks the offer is out of line. Yet plenty of … Read More 

Satisficing and Negotiation

Posted by & filed under Business Negotiations.

It stands to reason that devoting less time to relatively unimportant choices should free you up for more meaningful pursuits and increase your overall satisfaction. But how does the concept of satisficing apply to your most important decisions and negotiations? … Read More 

MESO Negotiation: Learn from a Seller’s Market

Posted by & filed under Dealmaking.

What negotiating skills can negotiators take away from hyper competitive bargaining situations? With home sales heating up (again) in some parts of the United States, homebuyers are facing competition they haven’t seen since before the real-estate bubble burst back in 2008, and it’s showing up in the form of packed open houses, multiple bids above … Read More 

Should You Appeal to Their Sense of Sympathy?

Posted by & filed under Negotiation Skills.

Imagine that you are about to enter into a negotiation. Unbeknown to your counterpart, the stakes are particularly high because of difficulties you are suffering behind the scenes. Maybe your organization is struggling financially and needs a break to stay in the black. Or you are planning to ask for a raise to help cover … Read More 

Negotiation Skills in Business Communication: Heading Off Deception

Posted by & filed under Business Negotiations.

In all types of negotiations and across all phases of the process, people can sometimes misrepresent or fail to tell the truth. Individual negotiators lie with the hope of improving their own outcomes. When negotiating his salary with the Cranbury, N.J.–based pharmaceutical marketing firm Carter-Wallace in 1997, Robert Bonczek misrepresented his prior title and salary … Read More 

Ask better questions in negotiation

Posted by & filed under Negotiation Skills.

Consider questions you might overhear in a typical business negotiation: ■ “ You want how much for that order?” ■ “Can you see what an excellent offer this is?” ■ “Are you ready to take this deal, yes or no?” It’s not difficult to see the limitations of these questions. The first one is likely to promote defensiveness. The … Read More 

Negotiating among friends

Posted by & filed under Business Negotiations, Daily.

Adapted from “Pick the Right Negotiating Team,” first published in the Negotiation newsletter, November 2007. We’ve all seen teams and work groups implode under the stress of personality clashes. These experiences might lead you to conclude that your negotiating team should be a tight-knit and harmonious group of colleagues. Yet in their research, Leigh Thompson, … Read More 

Picking Teams

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Pick the Right Negotiating Team,” first published in the Negotiation newsletter. We’ve all seen teams and work groups implode under the stress of personality clashes. These experiences might lead you to conclude that your negotiating team should be a tight-knit and harmonious group of colleagues. Yet Northwestern University professor Leigh Thompson and her coauthors … Read More