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Successful Negotiating

Successful Negotiating. Advantage Discussion Session #74 for X420 Class Kelley School of Business Presented by Richard D. Attiyeh. Win-win Negotiating. You need goodwill on both sides Giving and getting information is vital Different people want different things

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Successful Negotiating

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  1. Successful Negotiating Advantage Discussion Session #74 for X420 Class Kelley School of Business Presented by Richard D. Attiyeh

  2. Win-win Negotiating • You need goodwill on both sides • Giving and getting information is vital • Different people want different things • Afterwards people are willing to deal with you again • Both parties confident the agreement will hold • Each side has achieved something

  3. Guidelines for Successful Negotiating • Be prepared • Acknowledge differences in perception • Anticipate no agreement • Be creative and flexible

  4. Guidelines for Successful Negotiating • Look for areas of trade off • Ask questions and listen • Avoid threats and ultimatums • Suggest a deadline

  5. Q & A • Which of the following are win-win? • “What do you think about sending our staffs to the tech training seminars? They’d gain valuable knowledge and begin to learn how to work together effectively.” • “Yeah, we can pay for the seminars if your organization will cover the travel costs.” • “Whoa! Let’s remember who the senior trading partner here is. It’s not your client, that’s for sure!” • “Well, if we can’t even agree on this then we might as well leave right now.” • “Before we end these discussions, let’s set a date for our next meeting.”

  6. Preparing for a Negotiation • Think through how the other person is going to view the negotiation

  7. Anticipate No Agreement • Anticipate no agreement • Think through your alternative • Be as well-informed as possible

  8. Ask Questions and Listen • Understand the importance of the relationship

  9. Common Negotiating Mistakes • Inadequate preparation • Not looking for a win-win result • Not listening • Pulling rank • Scoring points for personal satisfaction

  10. Common Negotiating Mistakes • Being aggressive • Arguing • Ignoring conflict • Impatience • Failing to end on a positive note

  11. Five “Don’ts” • Don’t accept the first offer – at least not immediately • Don’t be the first • To name a price • To offer to split the difference • Don’t get seduced so you can’t walk away • Don’t admit you’re under time pressure • Don’t leave a single issue outstanding

  12. Q & A • Which of the following is wise, which is foolish? • Negotiator to counterpart: “Let me start out by telling you • that we are willing to meet you halfway on all costs.” • 2) Negotiator to counterpart: “We are all tired of your • excuses. We’re out of here.” • Negotiator to counterpart: “Before we go on, I want to make sure that you’re comfortable with things so far. If not, let’s take some more time and examine the issues completely.” • Negotiator to counterpart: “Let’s get one thing clear – we don’t need you, you need us.” • Opening statement: “We’re here because we both realize that if we can come to an effective arrangement we will both benefit. The more we agree, the more we benefit.” • Closing statement: “What a good meeting! When can we get together again?”

  13. Focus of Negotiators Structure/Facts ANALYSIS FOCUS RESULTS FOCUS Unassertive Assertive STABILITY FOCUS INVOLVEMENT FOCUS Variety/Emotions

  14. Focus of Negotiators Structure/Facts • RESULTS FOCUS • Be concise • Use key points • Be positive, not aggressive • Be businesslike • ANALYSIS FOCUS • Be detailed • Give reasons • Allow time Unassertive Assertive • STABILITY FOCUS • Develop trust • Present a clear case • Go slowly • INVOLVEMENT FOCUS • Be enthusiastic • Be informal • Present the facts clearly • Be interesting • Appeal to imagination Variety/Emotions

  15. Personal Action Plan • Review the Guidelines • Practice Your Skills • Review your Exchange

  16. Review the Guidelines • Be prepared • Acknowledge differences in perception • Anticipate no agreement • Be creative and flexible

  17. Practice Your Skills

  18. Review your Exchange • What were the issues? • How were they handled? • Were gains accomplished? • How does your future relationship look? • Did you use the guidelines?

  19. Successful Negotiating: Evaluation Questions • Use: • Strongly agree • Agree • Disagree • Strongly disagree • Don’t know • I found the presentation of material easy to understand. • This Advantage session increased my knowledge on the subject presented. • I will be able to use some of the information from this Advantage session in the future. • The presenter was well prepared for this Advantage session. • This presentation should be repeated in future semesters.

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