Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond

Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond

From two leaders in executive education at Harvard Business School, here are the mental habits and proven strategies you need to achieve outstanding results in any negotiation.Whether youve seen it all or are just starting out, Negotiation Genius will dramatically improve your negotiating skills and confidence.

Drawing on decades of behavioral research plus the experience of thousands of business clients, the authors take the mystery out of preparing for and executing negotiationswhether they involve multimillion-dollar deals or improving your next salary offer.What sets negotiation geniuses apart?

They are the men and women who know how to:Identify negotiation opportunities where others see no room for discussionDiscover the truth even when the other side wants to conceal itNegotiate successfully from a position of weaknessDefuse threats, ultimatums, lies, and other hardball tacticsOvercome resistance and sell proposals using proven influence tacticsNegotiate ethically and create trusting relationshipsalong with great dealsRecognize when the best move is to walk awayAnd much, much moreThis book gets down and dirty.

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I hate conflict, I hate negotiating, but if I don't (for example in job-hunting), I could lose big-time. Claiming value in negotiation: the five step pre-negotiation framework. Step 1: Assess your BATNA (best alternative to a negotiated deal) Step 2: Calculate your reservation value (your walk away point). Step 3: Assess the other partys BATNA Step 4: Calculate the other partys reservation value. Well, based on your offer, which was unexpected, it looks like we have a lot of work ahead of us. I will explain to you how we are valuing this deal, but it appears to me that if we are to reach any agreement, we will both have to work together to make it happen. Give them time to moderate their offer without losing face. The primary benefit of making a first offer in negotiation is that it establishes an anchor. So, focus on your target during negotiation; then when it is over, shift your focus to your reservation value. Ch 2 CREATING VALUE IN NEGOTIATION. If the other party values something more than you do, let them have it but dont give it away, sell it. Create value by adding issues. Some issues you might add: Delivery date Financing Quality Contract length Last-look provisions Arbitration clauses Exclusivity clauses Level of service support Warranties Future business Identify everything that you are interested in and create a scoring system, to calculate your package reservation value. Strategies for value creation: 1.Negotiate multiple issues simultaneously. Step 4: State that it is important for both of you to realize that you are not looking for a new agreement, but for an improved agreement that both parties prefer to the current agreement. Avoid negotiating under time pressure.

Value is whatever people find useful or desirable Can measure in many different ways ($, utility, happiness) Hamilton real estate case Batna: Best alternative to negotiated agreement Reservation value: walk away point Other parties BATNA: what would happen if the other side walked away Other parties reservation value: ZOPA: zone of possible agreement It depends who makes the first offer (anchor) Chapter 2: Creating Value in Negotiation UN problem was solved using a time deadline and pushing it out past the fiscal year Multi-issue negotiation: things are more complicated than a single price between 2 parties Moms.com example negotiation episode prices for a sitcom Effective negotiators look for opportunities to create value by making trades across multiple issues more issues = more currency Pareto improvement: one party improves from something the other party has no value for Contingency contracts: control future outcomes and minimize risk Always identify the reservation value of the overall package There is a difference between value claiming and value creation 70% of two different pies gives a different number Chapter 3: Investigative Negotiation European supplier didnt want to accept exclusivity rights. Focus on each parties underlying interests Create common ground with uncommon allies: Republicans donated to Nader campaign to undermine Kerry Interpret demands as opportunities: builder gets a bonus for early finish Dont dismiss anything as their problem: work together to find a better solution to the problems Dont let negotiations end with a rejection of your offer: always ask for an explanation and why Difference between selling and negotiation: Listen to customer needs! Constantly re-evaluate your reference point like gamblers Take an outsiders point of view Watch out for framing, people are risk averse Chapter 8: Blind Spots in Negotiation Boston Scientific executed the second worst merger in history because they were focused on the small transaction not the big picture Bounded awareness: ignoring information outside your scope Parties away from the table can have a great effect on the current negotiation United and American ran into this problem, united sent a public letter saying that it would meet any offer but it would be unwise. People are more willing to bet on their likelihood of winning a competition than otherwise Approach every negotiation as a mystery to be solved and make it a point to carefully identify your assumptions Chapter 11: Negotiation from a position of weakness Dont reveal how weak you are Overcome your weakness by leveraging their weakness, i.e. dont forget to calculate their BATNA Identify and Leverage your distinct value proposition DVP beyond what they are looking for what makes you stand out Consider relinquishing what little power you have. Lose a couple contracts so you can keep your margin and it evens out Increase your strength by building coalitions, unions They may need you to survive (romania and communism) Understand and attack the source of their power (planned parenthood has people make donations based on the number of protesters) Give information away which could be used against you being weak is unavoidable stick to your fundamentals of prep work and careful strategy planning Chapter 12: When Negotiations Get Ugly: Dealing with Irrationality, Distrust, Anger, Threats and Ego Cuban missile crisis, both sides desperately needed a way to save face publicly Be very careful in labeling someone irrational. The best block is dont be there Ultimatums: ignore it completely Neutralize any other threats ahead of time If its not credible let them know Help all parties save face in irrational decisions Chapter 14: The Path to Genius Experience is a dear teacher, but fools will learn no other Dont blame external factors for failures, look at internal and learn from it Perfect is the enemy of good, try things make changes and dont be paralyzed by perfection Take aways for using the book, read it again, ID a key concept and try it, ID people to discuss it with Look at constraints to improving negotiations (corporate structures or incentives) EVERYTHING is negotiable Negotiation is not about haggling over a price of a car, it is about understanding basic principles of human interaction to become a genius its a combination of natural ability and lot of hard work

The authors use a nice analogy of the crime detective to emphasise their main point that the best and often the only way to get what you want from a negotiation is to approach the negotiation from an investigative viewpoint rather than assuming you know what the motivation is behind the other partys wants. Like so many good books of its type, its a shame that the people who really need to apply the principles outlined by Malhotra and Bazerman in Negotiation Genius (e.g. our politicians, international trade negotiators and the like) will not be reading and applying their investigative approach.

Do not suspect all their motivations Avoid negotiating under time pressure. Prepare for negotiation; What are top priorities What is initial proposal How to influence Highlight potential losses rather than gains Why is opponent angry?

If you want to figure out how to get that raise on a personal level, or make the 'big deal' on the business level, this book will provide you with productive habits of thought to improve how you negotiate your way through the real world.

Is this the best book to read on negotiating? Even if you've done a lot of negotiating, you'll probably pick us some valuable ideas and insights from this book.

I hate conflict, I hate negotiating, but if I don't (for example in job-hunting), I could lose big-time. Claiming value in negotiation: the five step pre-negotiation framework. Step 1: Assess your BATNA (best alternative to a negotiated deal) Step 2: Calculate your reservation value (your walk away point). Step 3: Assess the other partys BATNA Step 4: Calculate the other partys reservation value. Well, based on your offer, which was unexpected, it looks like we have a lot of work ahead of us. I will explain to you how we are valuing this deal, but it appears to me that if we are to reach any agreement, we will both have to work together to make it happen. Give them time to moderate their offer without losing face. The primary benefit of making a first offer in negotiation is that it establishes an anchor. So, focus on your target during negotiation; then when it is over, shift your focus to your reservation value. Ch 2 CREATING VALUE IN NEGOTIATION. If the other party values something more than you do, let them have it but dont give it away, sell it. Create value by adding issues. Some issues you might add: Delivery date Financing Quality Contract length Last-look provisions Arbitration clauses Exclusivity clauses Level of service support Warranties Future business Identify everything that you are interested in and create a scoring system, to calculate your package reservation value. Strategies for value creation: 1.Negotiate multiple issues simultaneously. Step 4: State that it is important for both of you to realize that you are not looking for a new agreement, but for an improved agreement that both parties prefer to the current agreement. Avoid negotiating under time pressure.

He teaches courses on negotiation strategy to MBA students, as well as in a variety of executive programs, including the Owner/President Management Program, Changing the Game and Families in Business.Deepak's research focuses on negotiation strategy, trust development, competitive escalation, and international and ethnic dispute resolution, and has been published in top journals in the fields of management, psychology, conflict resolution and foreign policy.

  • English

  • Business

  • Rating: 4.15
  • Pages: 352
  • Publish Date: September 25th 2007 by Bantam
  • Isbn10: 055380488X
  • Isbn13: 9780553804881