Preparation and Information Sharing

Seven Fundamental Questions Strategic Forethought © 2016 South University

SFQS

Successful negotiators tend to ask seven fundamental questions (SFQs) as part of strategic forethought:

• What do I want?

• What does the other person want?

• Why should the other person negotiate with me?

• Why should I negotiate with the other person?

• What alternatives or choices are available?

• What is the point beyond which I should not negotiate?

• What are the strategies and tactics needed for this specific negotiation event?

Failing to think through these core questions of negotiation may result in confusion, loss of confidence, missed opportunities, and public embarrassment. For instance, in crucial negotiations such as mergers or acquisitions, a team should be engaged to assess the issues and potential outcomes and to develop a strategic negotiation plan that answers the SFQs. One misassumption is that the negotiation process begins only once the parties have taken their seats at the negotiation table. However, the above SFQs can help you see that negotiations really begin before the parties begin to talk. That is, a large portion happens as preparation. Unprepared negotiators are often unsuccessful negotiators. Just building answers to the SFQs before you negotiate will enhance your skill and increase the likelihood of positive outcomes.

The SFQs can also help you define several key factors of strategic negotiation. For example, questions about what you want and why you should negotiate reflect your self-awareness as a negotiator. Questions about what the other person wants and why he or she should negotiate with you reflect your awareness of the other party. All of the questions, especially the one about strategies and tactics, reflect the need for you to understand and utilize the tools of negotiation.

Let’s look at those key factors as a model.

Authentic Self + Other Awareness + Skilled Use of Tools = Strategic Negotiation

• Authentic Self: Strategic negotiators know their preferences, personal styles, and goals.

2 Seven Fundamental Questions

Strategic Forethought

• Other Awareness: Strategic negotiators take the time to analyze the other parties in the negotiations. Who are they? What are their styles? What are their goals?

• Skilled Use of Tools: Strategic negotiators know the language, concepts, and processes of negotiation. They are able to select and use the tools to achieve positive negotiated outcomes, resolve conflicts, and solve problems.

We will refer to this model several times during the course. As you are introduced to new concepts, you should be able to connect each one to the components of the model. As we work through the course material, you should also be able to evaluate the model as a leadership model.

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Strategic Negotiation

©2016 South University