Negotiations

Overview5

Figure out what you want Develop a strategy to get it Plan and prepare for negotiation Evaluate outcome Did you get what you wanted?

2

Define what it means to be an “effective negotiator”

Orange peel story

Examples

Name one from personal experience or movies

Examples of negotiating in your daily lives? Buying a car Borrowing money In the cafeteria With your parents & friends

Foundations of Effective Negotiations 5

Be yourself – know your bargaining style Set goals – not “bottom lines” Be aware of standards and norms Determine your interests & the other parties’

interests Identify and use leverage

More things to keep in mind: 4

Know your backup strategy – know what your alternatives are if you can’t get what you want

Listen, learn, and question – the best negotiators do more listening than speaking

Create a favorable environment Make it easy for the other person to say “yes”

The Negotiations Process 5

Prepare your strategy Exchange information Making concessions Gaining commitment Bargaining with the devil: ethics in

negotiation

Halftime

Do you see

6 human faces here?

They are circled

Negotiation Styles 4

Positional Bargaining Principled Negotiation Is your style soft or hard? Do you enjoy

confrontations? Are you a “compromiser” or “win at all

costs”

Positional Bargaining 5

Extremes, threats and typically end up in the middle.

Distributive approach similar to haggling One gets something, one gets less Try to get the most for yourself May end up walking away when you don’t

really want to walk away.

Principled Negotiation 7

Objective standards and norms Fair to both parties Integrative “win-win” approach that is interest

based No haggling as it will ruin relationships Share information Create value for the other party Do well for yourself

Can you find the baby in this picture?

A Few Strategy Examples5

Ask for more than you want, then concede No, No, No, No…. Use objective criteria – don’t haggle Negotiate from strength – don’t be desperate

(Think “Shark Tank”) Use time to “think about it”

UMass

If you wanted to spend the weekend visiting an older sibling at UMass Amherst (Friday night through Sunday noon) how would you approach it with your parents?

Multi-Party Negotiations 2

Negotiations between 2 or more separate parties

Might have to negotiate with multiple parties who have different interests (especially different from your own)

Things to Remember… 7

Separate the people from the problem Look at interests rather than positions Prepare for the negotiation Know what you want (your interests) Try to find out the other parties’ interests Look for mutual gains Listen to the other party

Some cases to be negotiated….4

Professional Basketball Contract Estate/Will Employment Case (money & benefits)

Name the seven original members of the Justice League?

Superman, Batman, Wonder Woman, Aquaman, Martian Manhunter, Flash, Green Lantern.