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Flashcards in 2. Strategy in Negotiation Deck (8)
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1

Strategy

The overall plan to achieve one’s goals in a negotiation

- Unilateral: made without active involvement of the other party
- Bilateral: considers the impact of the other’s strategy on one’s own

2

Tactics

Short-term, adaptive moves designed to enact or pursue broad strategies.

3

Four Pillars of Effective Negotiation

- Build a productive relationship
- Pursue outcomes, not points
- Seek solutions, avoid blame
- Focus on fairness

4

Critical factors in distributive negotiation

- Well-defined bargaining range
- good alternative
- good tactics (bluffing, being aggressive, threatening)

5

Critical factors in collaborative negotiations

- Understanding the other party's goals and needs
- Providing free flow of information
- Finding solutions that meet both parties

6

Principled Negotiation Model

1. Participants are problem solvers
2. The goal is to reach a wise outcome; efficiently and amicably
3. Separate people from the problem
4. Be soft on the people, hard on the problem
5. Proceed independent of trust
6. Focus on interest, not positions
7. Invent options for mutual gain
8. Insist on using objective criteria

7

Key phases in Negotiation

1. Preparation
2. Relationship building
3. Information gathering
4. Information using
5. Bidding
6. Closing the deal
7. Implementing agreement

8

Planning process

1. Define issues
2. Assemble the bargaining mix (combined list of issues) and priorities
3. Define your interests
4. Know your limits
5. Know your BATNA
6. Set objectives and opening bids
7. Assess elements and the social context (who is on my side?)
8. Analyse the other party (resources, issues, bargaining mix, what do they want, what is their strategy, what is their reputation etc)
9. Define the protocol (agenda, who will be there)
10. Present your case