Negotiation Strategies for Success

Negotiation Strategies for SuccesS Be Prepared Develop skills and traits that will improve your negotiating proficiency Analytical Skills Confidence Communication Skills Apply the THREE of Everything Rule! Identify 3 good choices: Get a sense of the market People become desperate and irrational when they only have one choice. Leverage your knowledge to determine your bargaining power. Explore your third favorite option FIRST Be aware of BIASES. Take steps Banish Biases to remove them. Cognitive Biases Partisan Perceptions Assuming our point of view is neutral and others are biased Biases thatundermine decision making • We tend to make systematic errors in processing information, but successful negotiation requires that we perceive and process information accurately • We exaggerate our perception of the other side or vilify the opponent • We selectively remember facts that support our point of view, while conveniently ignoring facts opposed to us • Danger: Our attitudes can become self-fulfilling prophedes Experts ask question for every 4 Ask Questions statements. Experts ask a lot of questions. Questions lead to information! The Risk of Asking Questions Interest-Gathering Questions Information quality - Can you trust the information that has been provided? Why? How does that help you? Loss of control -Your opponent has the opportunity to direct the information flow. What is (most) important to you? Experts spend 2 to 3 times Solution-Seeking Questions Confirmatony/Listening Questions the amount of time as novices asking questions. So do I understand this correctly .? What ideas do you have? How might we implement them effectively? Are you saying ..? What don't you like about my proposal? Does this solution meet your needs? What solution do you prefer (multi-solution oomparisons)? So to summarize.. Resolve Issues Address the Three Categories of People Problems Perception Emotion Misunderstanding Partisan perceptions and cognitive biases get in the way. Educating the parties about each other's views can help. Frustration can be caused by miscommunication. Clarify the information to remove BOTH negative and positive emotions can become too strong and hinder collaboration. Allow the negative or positive emotions to come out. the confusion. Get to YES! with the Pillars of Find Fairness Consider Concessions Principled Negotiation The book "Getting to YES: Negotlating Agreement Without Giving In" by Roger Fisher and Wimmam L. Ury suggests using objective criteria: Concessions that give something of percelved value to the other party tend toward reciprocity • Be open to other ariteria IF objective and fair • Be open to reason but dosed to threats • Never yield to pressure, only to principle • Make concessions of a similar size • Make concessions of a similar number • Do not make more than one concession at a time • Concessions are permanent • Concessions need to be justified UNIVERSITY OF ONOTRE DAME Made avalableby Bisk Education, Inc. O 2014 Bisk Education All rights reserved Company, products and servicenames maybe trademarks of their respective owners. Source www.notredameonlinecom Mendea College of Businees