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Best Practices in Negotiations

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Best Practices in Negotiations
Best Practices in
Negotiations
McGraw-Hill/Irwin
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
1.
Be prepared
— Understand and articulate your goals and
interests
— Set high but achievable aspirations for
negotiation
2.
Diagnose the fundamental structure of the
negotiation
— Make conscious decisions about the nature of
the
negotiation: is it a distributive or integrative
negotiation or blend of the two
— Choose strategies and tactics accordingly
122
3. Identify and work the BATNA
— Be vigilant about the BATNA
— Be aware of the other negotiator’s BATNA
4. Be willing to walk away
— Strong negotiators are willing to walk away
when no
agreement is better than a poor agreement
— Have a clear walkaway point in mind where you
will
halt the negotiation
123
5. Master the key paradoxes of negotiation
— Claiming value versus creating value
— Sticking by your principles versus being resilient to
the flow
— Sticking with the strategy versus opportunistic
pursuit
of new options
— Facing the dilemma of honesty: honest and open
versus closed and opaque
— Facing the dilemma of trust: trust versus distrust
124
6. Remember the intangibles
— “See what is not there”
— Ask questions
— Take an observer or listener with you to the
negotiation
7. Actively manage coalitions
— Coalitions against you
— Coalitions that support you
— Undefined coalitions that may materialize for or
against you
125
8.
Savor and protect your reputation
— Start negotiation with a positive reputation
— Shape your reputation by acting in a consistent and
fair manner
9.
Remember that rationality and fairness are
relative
— Question your perceptions of fairness and ground
them in clear principles
— Find external benchmarks of fair outcomes
— Engage in dialogue to reach consensus on fairness
126
10. Continue to learn from your experience
— Practice the art and science of negotiation
— Analyze each negotiation



Plan a personal reflection time after each negotiation
Periodically take a lesson from a trainer or a coach
Keep a personal diary on strengths and weaknesses and
develop a plan to work on weaknesses
127
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