zone of possible agreement

The following items are tagged zone of possible agreement

Daily

A Negotiation Preparation Checklist

Posted by & filed under Negotiation Skills.

Negotiation preparation checklist

Without a doubt, the biggest mistake that negotiators make—and one that many make routinely—is failing to thoroughly prepare. When you haven’t done the necessary analysis and research, you are highly likely to leave value on the table and even to be taken advantage of by your counterpart. A negotiation preparation checklist can help you avoid … Read More 

Product

Canada-China Panda Acquisition Negotiation

Posted by & filed under .

Stephen Weiss Two-team (6 person), multi-issue contract negotiation between Canadian zoo CEOs and representatives of Chinese organization responsible for giant panda loans … Read More 

Free Report

Daily

Product

Super Slipster

Posted by & filed under .

Matt Smith under the supervision of Robert C. Bordone, with revisions by Michael Moffitt Two-party personal injury settlement negotiation between the attorney for the injured plaintiff and general counsel for the defendant toy manufacturing company … Read More 

Daily

Win Win Negotiation: Managing Your Counterpart’s Satisfaction

Posted by & filed under Win-Win Negotiations.

win win

As the following points of win-win negotiation will demonstrate, ensuring that your counterpart is satisfied with a particular deal requires you to manage several aspects of the negotiation process, including his outcome expectations, his perceptions of your outcome, the comparisons he makes with others, and his overall negotiation experience itself. … Read More 

Product

Summitville Service Agreement

Posted by & filed under .

Patrick Field and Tracy Dyke A two-team (four-party), co-mediated, multi-issue negotiation simulation involving a bitter property tax dispute between a small town and an Indian band living on a nearby reservation … Read More 

Daily

How to Find the ZOPA in Business Negotiations

Posted by & filed under Business Negotiations.

zopa in business

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 More 

Product

Hong Kong Property Deal

Posted by & filed under .

Larry Crump, based on a concept developed by Lawrence Susskind Two-party potentially integrative negotiation between a property owner and a neighboring business over the sale of two real estate parcels … Read More 

Daily

Compensation Negotiation Tips for Salary Bargaining

Posted by & filed under Salary Negotiations.

compensation negotiation tips

Job candidates are often eager for compensation negotiation tips, and with good reason: they tend to be at a bargaining disadvantage relative to the hiring organization. Due to the well-documented anchoring effect, the first figure introduced into the discussion can strongly influence the final outcome—and the wage or wage range cited by employers is likely … Read More 

Product

Bakra Beverage

Posted by & filed under .

Dan Vogel, under the supervision of Robert Bordone and Gillien Todd … Read More 

Daily

Daily

Daily

What Is Distributive Negotiation?

Posted by & filed under Negotiation Skills.

distributive negotiation

What is distributive negotiation? Distributive negotiation involves haggling over a fixed amount of value—that is, slicing up the pie. In a distributive negotiation, there is likely only one issue at stake, typically price. When you are negotiating with a merchant in a foreign bazaar, or over a used car closer to home, you are generally … Read More 

Daily

Daily

Case Studies: Examples of Conflict Resolution

Posted by & filed under Conflict Resolution.

conflict resolution

Conflict resolution is the process of resolving a dispute or a conflict by meeting at least some of each side’s needs and addressing their interests. Conflict resolution sometimes requires both a power-based and an interest-based approach, such as the simultaneous pursuit of litigation (the use of legal power) and negotiation (attempts to reconcile each party’s … Read More 

Daily

Daily

Daily

Daily

Daily

Daily

An Example of the Anchoring Effect

Posted by & filed under Negotiation Skills.

anchoring effect

People tend to irrationally fixate on the first number put forth in a negotiation—the anchor—no matter how arbitrary it may be. Even when we know the anchor has limited relevance, we fail to sufficiently adjust our judgments away from it. This is the anchoring effect. … Read More 

Daily

Setting Standards in Negotiations

Posted by & filed under Salary Negotiations.

negotiations

As the starting point from which all commercial transactions occur, from purchasing equipment to setting salaries, negotiation in business is an essential skill no matter what field a negotiator finds herself. Using an objective standard can strengthen your proposal and eliminate emotional bias. … Read More 

Daily

Add Variety to Your Curriculum with These Top Simulations

Posted by & filed under Teaching Negotiation.

negotiation

Update Your Teaching Materials with Our Top Negotiation Role Play Simulations The field of negotiation is constantly evolving, and as such, requires new ways of teaching negotiation. It can sometimes happen that students come into a class having already encountered the negotiation simulation being used in the course, or that a different kind of exercise is … Read More 

Daily

What is Distributive Negotiation and Five Proven Strategies

Posted by & filed under Dealmaking.

distributive negotiation

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 

Daily

7 Tips for Closing the Deal in Negotiations

Posted by & filed under Dealmaking.

Closing the Deal

“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 More 

Daily

Daily

Daily

5 Dealmaking Tips for Closing the Deal

Posted by & filed under Dealmaking.

dealmaking

When you’ve made progress on certain issues but remain stymied on others in a negotiation, it’s time to take a hard look at what’s standing between you and a mutually acceptable deal. Professor Robert Mnookin of Harvard Law School and his colleagues at Stanford University have created a catalog of common dealmaking barriers to agreement, … Read More 

Daily

Price Negotiation Advice for Consumers

Posted by & filed under Business Negotiations.

price negotiation

It’s official: Price negotiations aren’t just for big-ticket items anymore. The prices of furniture, electronics, wine, jewelry, and other “medium-ticket” goods are now frequently up for discussion. The ancient art of haggling has made a comeback, so brush up on your skills with our six price negotiation tactics. … Read More 

Daily

Daily

What is Anchoring in Negotiation?

Posted by & filed under Negotiation Skills.

anchoring

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 More 

Daily

Teach Coalition Management in Multiparty Negotiations

Posted by & filed under Teaching Negotiation.

multiparty negotiations

Multiparty negotiations can be difficult to manage if you are unprepared for the formation of coalitions. Two-party and multiparty negotiations share some important similarities: the goal of discovering the zone of possible agreement, for example. However, there are some key differences that set them apart. As soon as the number of parties increases past two, … Read More 

Daily

Daily

Value Claiming in Negotiation

Posted by & filed under Negotiation Skills.

value claiming

In most negotiations, we face two goals: claiming value and creating value. Value can be defined as anything you would like to get out a negotiation, whether it be more dollars, a consulting contract, a new rug, an end to conflict, and so on. … Read More 

Daily

Metaphorical Negotiation and Defining Negotiation Skills

Posted by & filed under Negotiation Skills.

negotiation

Negotiators talk about building agreement, bluffing the opposition, and volleying offers back and forth. According to mediator Thomas Smith, careful attention to such metaphors can reveal deeper meaning beneath the explicit words that people use, notably regarding how they view the negotiation process and their relationship to one another. … Read More 

Daily

Daily

Daily

What is the Anchoring Bias?

Posted by & filed under Negotiation Skills.

what is the anchoring bias

It may be the most burning question in business negotiation: Should you make the first offer? Traditionally, negotiators were advised to wait for the other side to make a first offer. According to this reasoning, the other side’s offer gives you valuable information about his goals and alternatives. More recently, however, research on the anchoring bias has … Read More 

Daily

Daily

Price Anchoring 101

Posted by & filed under Negotiation Skills.

Price Anchoring

Opening offers have a strong effect in price negotiations. The first offer typically serves as an anchor that strongly influences the discussion that follows. In research documenting this anchoring effect, psychologists Daniel Kahneman and Amos Tversky found that even random numbers can have a dramatic impact on people’s subsequent judgments and decisions. … Read More 

Daily

Leadership Style Assessment: Road Map for Podemos in Spain

Posted by & filed under Leadership Skills.

Leadership Style Assessment: Road Map for Podemos in Spain

The skills required for honing an effective participative leadership style have a great deal in common with those used by good negotiators. Following the May 24, 2015 municipal elections in Spain, all of those skills are being put to the test. The elections delivered a stunning rebuke to the incumbent conservative Popular Party of Mariano … Read More 

Daily

Video: Setting the Stage for Productive Negotiations

Posted by & filed under Daily, Resources, Videos.

productive negotiations

Understanding how to arrange the meeting space is a key aspect of preparing for productive negotiations. In this video, Guhan Subramanian, professor at Harvard Law School and Harvard Business School, discusses a real world example of how seating arrangements can influence a negotiator’s success. The discussion was held in his negotiation training workshop “Setting the … Read More 

Daily

For Price Negotiators, Preparation is the Key to Success

Posted by & filed under Dealmaking.

For Price Negotiators Preparation is the Key to Success

Some cultures have a long tradition of haggling—bargaining back and forth about the price of an item—in markets and bazaars. By contrast, in the United States and many other countries, haggling between buyers and sellers is an under-practiced skill. You might routinely pass up opportunities to haggle in situations where financial negotiations are not the … Read More 

Daily

Negotiation Advice: When to Make the First Offer in Negotiation

Posted by & filed under Negotiation Skills.

negotiation advice - when to make the first offer in negotiation

When or when not to make the first offer in negotiations is a question many expert negotiators ask themselves when approaching business negotiations, real estate transactions, or even interpersonal negotiations with friends and family. In this article drawn from negotiation research, we offer negotiating skills and negotiation tips for when, and when not, to make … Read More 

Daily

Daily

In Platform Negotiations with Clinton, Sanders Was Victorious

Posted by & filed under BATNA.

With the 2016 Democratic National Convention now over, Vermont senator Bernie Sanders used the Hillary Clinton campaign’s fear of a divisive spectacle in Philadelphia to extract concessions on the party’s official platform and committee assignments. The senator’s tough dealmaking suggests an important negotiation lesson: Always know your BATNA and ZOPA in any negotiation. … Read More 

Daily

Deal Negotiation and Dealmaking: What to Do On Your Own

Posted by & filed under Dealmaking.

Six negotiation skills tips for negotiators seeking to creative value during their next round at the bargaining table. Business negotiators are often faced with the complex task of coordinating multiple parties – here are some tips for the individual business negotiator on how to achieve success in her next deal negotiation. … Read More 

Daily

Conflict Management: Becoming a Team Player

Posted by & filed under Conflict Resolution.

Show me the money!” That refrain from the 1996 movie Jerry Maguire, shouted by a football player to his agent, continues to echo through U.S. professional sports negotiations today. A public arena, enormous piles of cash, and even bigger egos combine to make sports negotiations a unique context. Yet anyone who has negotiated through agents, … Read More 

Daily

Daily

Did You Really Get a Great Deal?

Posted by & filed under Negotiation Skills.

Adapted from “A Worse Deal Than You Think?” First published in the Negotiation newsletter, August 2006. Most negotiators leave the bargaining table believing they were better at pushing the other side to its limit than was actually the case, according to experimental studies by Richard P. Larrick of Duke University and George Wu of the University … Read More 

Daily

Should You Dwell on Past Negotiation Outcomes?

Posted by & filed under Conflict Resolution, Daily.

Adapted from “Learn to Negotiate with an Open Mind,” first published in the Negotiation newsletter. After wrapping up a difficult negotiation, it’s tempting to forget about it and move on. The regret triggered by counterfactual thinking, or reflections on “what might have been,” can be so painful that many people will do whatever they can to … Read More 

Daily

“Are We Exclusive?”

Posted by & filed under Business Negotiations.

Ron McAfee, a carpenter and roofing expert, spent considerable time working with a condominium association on the design of a new roof deck. After gaining agreement on the proposed layout, design, and materials, McAfee submitted a written bid of $12,500. One of the board members subsequently showed McAfee’s plans to another roofer, who offered to … Read More