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Negotiations

Negotiations. Overview 5. 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.

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Negotiations

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  1. Negotiations

  2. 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?

  3. 2 • Define what it means to be an “effective negotiator” • Orange peel story

  4. 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

  5. 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

  6. 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”

  7. The Negotiations Process 5 • Prepare your strategy • Exchange information • Making concessions • Gaining commitment • Bargaining with the devil: ethics in negotiation

  8. Halftime • Do you see 6 human faces here?

  9. They are circled

  10. 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”

  11. 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.

  12. 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

  13. Can you find the baby in this picture?

  14. 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”

  15. 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?

  16. 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)

  17. 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

  18. Some cases to be negotiated….4 • Professional Basketball Contract • Estate/Will • Employment Case (money & benefits)

  19. Name the seven original members of the Justice League?

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

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