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Negotiating

Negotiating. “Negotiating is the art of reaching an agreement by resolving differences through creativity” . References. Creative Negotiating , Stephen Kozicki, Adams Press, 1998 Business Negotiating Basics , Peter Economy, Briefcase Books, 1994

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Negotiating

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  1. Negotiating “Negotiating is the art of reaching an agreement by resolving differences through creativity”

  2. References Creative Negotiating, Stephen Kozicki, Adams Press, 1998 Business Negotiating Basics, Peter Economy, Briefcase Books, 1994 “Diagnosing and Overcoming Barriers to Agreement”, Michael Watkins, HBS, 2000 “Negotiation Analysis”, Michael Wheeler, HBS, 2001

  3. Negotiating Decisions Style Outcome Principles

  4. Style • Style is a continuum between two styles: • Quick • Deliberate • Middle is compromise

  5. Quick Style • Negotiate in a hurry • Use when you won’t negotiate with these people again • Get the best deal without regard to the other side’s “win” • Price main consideration

  6. Deliberate Style • Use when long term relationship likely • Involves cooperation and relationship building to reach agreement • Needs much prep, hard work • May move in fits and starts

  7. Outcomes • Realistic • Both sides satisfied, win/win situation • Usually results from deliberate style • Acceptable • Likely to result from quick style • Something is better than nothing • Always ask for a better deal • Worst • When you’re too stubborn to be flexible • Usually from quick style

  8. Outcomes • Predetermine the outcomes before you start negotiations, you have a better chance of getting a better result • “Think carefully, think creatively, and think ahead”

  9. Principles • There are no rules • Establish an agenda • Everything is negotiable • Ask for a better deal • Be creative • Learn to say “NO” yourself

  10. Enthusiasm Confidence Engaged Recognition Accomplishment Pat on the back Integrity No trickery Trustworthiness Social Skills Enjoy people Interest in others Teamwork Better as a team Self-control Creativity Always looking for ways to complete the deal Are you a Motivated Negotiator?

  11. Negotiation Steps • Investigate • Presentation • Bargaining • Agreement

  12. Step 1: Investigate • What do you want? • Who are the real parties involved. • What does the other side need? • Value to be created and who gets it? • Decide on style • What are the consequences of each choice.

  13. Consequences of Not being Prepared • Can’t defend your position • Trouble evaluating the issues • Succumbing to pressure to end negotiation • Giving up too much too soon • Forgetting key details • Losing control of the process

  14. Step 2: Presentation • Prepare other side’s case • Present the reasons for your side better • Planning sheet • Issues involved • Realistic, possible, worst

  15. Creative title Reduce to “must know” items Keywords Mini-speeches around keywords Visuals Don’t give concessions just to keep things going Make note of concerns and keep going “The” Presentation

  16. Step 3: Bargaining • When in doubt, ask questions! • Open questions • Reflective questions • Tactics • Ethics

  17. Barriers to Agreement • Structural • Strategic • Psychological • Institutional • Cultural

  18. Use Walk out Substitution Don’t use Emotional outburst Argue special case Pretend ignorance Play for time Nibble and retreat “You go first” Bad environment Defer to higher authority Not willing to make any changes Silence Good cop/bad cop Tactics

  19. Do’s Keep your word Listen carefully Leave room for maneuvering Feel free to reject Conditional offers Probe attitudes Don’ts Make early concession s Extreme opening offer Use “never” Make other side appear foolish Use “yes” or “no answers Do’s and Don’ts

  20. Step 4: Agreement • Arrangements should be neutral and comfortable • Pay attention to what others say • Screen out all visual distractions • Ask open ended questions • Listen to responses • Proactive vs. reactive behavior

  21. If Disagreement Persists • Recognize and list areas of disagreement • Rank the issues • Assess the value to each party • Compromise • Brainstorm solutions

  22. A Good Negotiator Is.. • Creative • Versatile • Motivated • Has the ability to walk away Strive for…. Goal(1) + Limits (1)  Goal (2) + Limits (2)

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