Week 3

 Most People are Ineffective Negotiators  Negotiation Traps Leaving money on the table Settling for too little Walking away from the table

 Egocentrism  Confirmation Bias  Satisficing  Self-Reinforcing Incompetence

 No clear objectives or targets…  Don’t see strengths and weaknesses…  Fail to consider alternatives…  Don’t respond well when flexibility needed…

Goals StrategyPlanning

 Wishes are not goals  Goals are often linked  Goals have boundaries  Effective goals: concrete, specific, & measurable

The overall plan to accomplish one’s goals in a negotiation and the action sequences that will lead to the accomplishment of those goals  Strategy vs. Tactics  Unilateral vs. Bilateral

Collaboration/Problem Solving Accommodation/ Yielding Competitive/ Contending Avoidance Compromise Substantive Outcome Important? Relationship Outcome Important? Yes No

Preparation Relationship Building Information Gathering Information Using Bidding Closing the Deal Implementing Agreement Stages

1. Define the Issues 2. Define Bargaining Mix 3. Define Interests 4. Know your limits 5. Know your Alternatives

6. Setting Targets and Asking Prices 7. Assess Constituents & Social Context 8. Analyze Other Party (i.e. Resources, interests, issues, alternatives, constituents, reputation, likely strategy)

9. Presenting Issues to Other  Provide Clarity  Support your point of view 10. What Protocol to Follow  Scope  Sequence  Framing  Packaging

 Myth 1: Negotiations are Fixed-Sum  Myth 2: You Need to be either Tough or Soft  Myth 3: Good Negotiators are Born  Myth 4: Life Experience is a Great Teacher  Myth 5: Good Negotiators Take Risks  Myth 6: Good Negotiators Rely on Intuition