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Mastering Effective Negotiations: Strategies for Success

This guide provides a comprehensive overview of effective negotiation strategies, focusing on key elements essential for successful outcomes. Learn to define your goals, develop a strategy, and prepare thoroughly for discussions. Differentiate between positional and principled negotiation styles while honing your listening skills. Discover personal anecdotes and relatable examples, such as negotiating the purchase of a car or collaborating with friends. With insights into leveraging your interests and building a favorable environment, this resource is perfect for anyone looking to enhance their negotiating skills.

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Mastering Effective Negotiations: Strategies for Success

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  1. Negotiations

  2. Overview5 • Figure out what you want • Develop a strategy to get it • Plan and prepare for negotiation • Evaluate outcome • Did you get what you wanted?

  3. 2 • Define what it means to be an “effective negotiator” • Orange peel story

  4. Examples • Name one from personal experience or movies • Examples of negotiating in your daily lives? • Buying a car • Borrowing money • In the cafeteria • With your parents & friends

  5. Foundations of Effective Negotiations 5 • Be yourself – know your bargaining style • Set goals – not “bottom lines” • Be aware of standards and norms • Determine your interests & the other parties’ interests • Identify and use leverage

  6. More things to keep in mind: 4 • Know your backup strategy – know what your alternatives are if you can’t get what you want • Listen, learn, and question – the best negotiators do more listening than speaking • Create a favorable environment • Make it easy for the other person to say “yes”

  7. The Negotiations Process 5 • Prepare your strategy • Exchange information • Making concessions • Gaining commitment • Bargaining with the devil: ethics in negotiation

  8. Halftime • Do you see 6 human faces here?

  9. They are circled

  10. Negotiation Styles 4 • Positional Bargaining • Principled Negotiation • Is your style soft or hard? Do you enjoy confrontations? • Are you a “compromiser” or “win at all costs”

  11. Positional Bargaining 5 • Extremes, threats and typically end up in the middle. • Distributive approach similar to haggling • One gets something, one gets less • Try to get the most for yourself • May end up walking away when you don’t really want to walk away.

  12. Principled Negotiation 7 • Objective standards and norms • Fair to both parties • Integrative “win-win” approach that is interest based • No haggling as it will ruin relationships • Share information • Create value for the other party • Do well for yourself

  13. Can you find the baby in this picture?

  14. A Few Strategy Examples5 • Ask for more than you want, then concede • No, No, No, No…. • Use objective criteria – don’t haggle • Negotiate from strength – don’t be desperate (Think “Shark Tank”) • Use time to “think about it”

  15. UMass • If you wanted to spend the weekend visiting an older sibling at UMass Amherst (Friday night through Sunday noon) how would you approach it with your parents?

  16. Multi-Party Negotiations 2 • Negotiations between 2 or more separate parties • Might have to negotiate with multiple parties who have different interests (especially different from your own)

  17. Things to Remember… 7 • Separate the people from the problem • Look at interests rather than positions • Prepare for the negotiation • Know what you want (your interests) • Try to find out the other parties’ interests • Look for mutual gains • Listen to the other party

  18. Some cases to be negotiated….4 • Professional Basketball Contract • Estate/Will • Employment Case (money & benefits)

  19. Name the seven original members of the Justice League?

  20. Superman, Batman, Wonder Woman, Aquaman, Martian Manhunter, Flash, Green Lantern.

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