negotiation
TIPs to reflect on/question practical applications
BCO 323 Negotiation Session 4
Haggling scene from The Life of Brian
What tactics did you observe?
Comments?
Watch the video
Never accept the first offer, no matter how good it sounds
Never negotiate with yourself: if they don’t accept your offer, do not make a new offer, wait for a counter-offer. (If you lower your demands without getting your counterpart to lower their demands, this may be perceived as a sign of weakness)
Do not ‘cut a deal’ with someone who has to ‘get the boss’s approval’. That give the other party room to renegotiate.
If you cannot say ‘yes’, then say ‘no’.
Just because it looks ‘non-negotiable’ it does not mean that it cannot be negotiated; even a ‘standard contract’ can often be altered.
TIPS 1-5
6. Do your homework (due diligence). Learn as much as you can about the other side, their options and drivers. Information is more powerful than instinct.
7. Rehearse, practice. Roleplay with others before the negotiation. “When you fail to prepare, you are preparing to fail” (Benjamin Franklin)
8. Watch out for and beware of the ‘late dealer’, the person who seems indifferent, arrives late or seems ‘not to care’. This is business.
9. Be nice. If you cannot be nice with the other party, send someone else.
10. A deal is always possible provided both sides perceive benefits.
TIPS 6-10
11. A dream is a bargain. Set the scene, tell the tale, generate excitement: get the other side to visualize the benefits and they will sell themselves
12. In any game, top players debrief after every encounter. Negotiation is not a game, but it is worth doing the same (in fact, effective negotiators do this much more than average negotiators do)
13. Nobody ever shows all their cards; try to work out what they really want and why
14. Let the other side talk first; their offer may even surprise you.
TIPS 11- 14
Roleplay The Ugli Orange
How did you set the scene?
Co-operative or competitive?
What agreement did you reach?
Did you explore other options?
Would you want to continue doing business with your partner?
Debrief
Roleplay: Buyers and Sellers
How did you set the scene?
Co-operative or competitive or compromise?
Did it feel like win-win?
What agreement did you reach?
Did you explore other options?
Would you want to continue doing business with your partner?
Did you get close to the total value of the original sale/purchase?
Debrief
www.euruni.edu