Successful Negotiation: Essential Strategies and Skills – Professor George Siedel.
- Prepare: Plan Your Negotiation Strategy
- Should i negotiate? Think of the costs and benefits before a negotiation. Avoid the costs which are pulling you in away from other opportunities. Consider your feeling about negotiation and as well as the potentials risks and rewards.
- Is a position based or interest based negotiation?
- Ask firs why do you want what you are requesting? What’s the reason for your position?
- Always search for underlying interests but also be ready for positional bargaining even after finding mutual interests.
- A dispute resolution or deal making negotiation?
- deal making – forward looking, interest-based, problem solving
- dispute resolution – backward looking, position-based, adversarial
- 6 processes to resolve a dispute:
- Avoidance
- Negotiation – (also used for deal-making)
- Mediation – bringing in a third party to mediate the dispute, is a negotiation assisted by a third party
- Arbitration – bringing in a third party who has the right to decide the dispute
- Litigation – similar to arbitration,
- Power
- ADR – Alternative Dispute Resolution – Negotiation, Mediation, Arbitration
- Third Party Process – Litigation, Arbitration, Mediation
- Power Right Interests – Power, Litigation, Arbitration, Mediation, Negotiation
- If you are involved in a dispute:
- Power to force the other side to do what you want
- Rights – let a third party to decide who is right
- Avoidance – withdraw from a dispute.
- Interests – try to negotiate an agreement based on your needs
- Traditionally, in deal-making the focus is on Negotiation. However, lately arbitration and mediation are used for deal making as well.
- Negotiate: Use Key Tactics for Success
- Close: Create a Contract
- Perform and Evaluate: The End Game