Negotiation Assignment

Negotiation Assignment,

The Negotiation is a part of our personal and professional lives and it is something that can be learnt, also the negotiation skills is at the heart of our personnel and social harmony

The Negotiation primary is about techniques, tools, process and methods, and there are three main pillars for the negotiation:

1. People

2. Process

3. Problems

Top 10 moves that we should not forget:

1. Preparation before action.

2. Build coalition before meeting.

3. People first.

4. Manage the meeting (who, how and what).

5. Listen actively before speaking.

6. Make the pie bigger to get a bigger part of the pie (make value before claiming value)

7. Understand well the problem; make sure that you have the right information before searching for solutions.

8. Brainstorming, coming to the meeting with several ideas.

9. Evaluating well the situation before making any decision.

10. Clearly summarize the key solutions, by the end of meeting, what we agree and what we disagree.

Put ourselves in the shoes of the other party

Framing Bias

 Reframing scenarios in terms of gains/losses: We are more concerned about losses

 Implications in negotiations?

 Think of different framings of the same problem

Availability Bias

 Availability in memory: Too much emphasis on available information

 Role of Media

 Use historical data, avoid focusing on recent events

Overconfidence Bias

 Usually overconfident on easy questions and under confident on hard questions

 People like to perceive less uncertainty and they tend to be optimistic about their activities

 Implications in negotiations?

 Develop incentives for providing accurate estimates

Negotiations Terminology

What is the Maximum I am willing to pay? Walkaway Price

The lowest price a buyer is willing