Negotiating International Business Transactions Susan Hackley Managing Director, Program on Negotiation at Harvard Law School University of Rome – La Sapienza June 2003

Negotiations are Everywhere In daily life, with family, friends and people in the community In the workplace with co-workers, colleagues and competitors In law and business In politics and governance In all organizations

Symptoms of Failed Negotiations Symptoms of Failed Negotiations Deals lost Lower profitability (or losses) Damaged relationships Broken partnerships Wasted resources Protracted disputes Unrest, chaos, war, genocide

Become a More Skilled Negotiator Learn to prepare systematically for every negotiation Become self-aware about your own habits and behavior Adopt a framework for planning, conducting and analyzing negotiations

The Learning Process Become familiar with a framework for preparation and analysis Interactive exercises – learn by doing Review and reflect

Preparing to Negotiate Think about INTERESTS – yours and theirs. Think about ALTERNATIVES – what will you do with no deal? –What is your BATNA – best alternative to a negotiated agreement? What is theirs? What would give LEGITIMACY to your arguments? – Can you find principles that are persuasive?