Negotiating Flashcards
What is negotiating
The ongoing process which 2 or more parties, whose positions are not necessarily consistent, work in an effort to reach an agreement
What is the EASY process
1) engage: recognize you are in a negotiation and quickly review viable strategies
2) assess: evaluate your tendency to use each of negotiation strategies and other persons
3) strategize: select the proper strategy for this particular negotiation
4) your one minute drill: each time you begin negotiating, take a min to review the 3 steps
What is the negotiation strategy matrix
Top proactive: competition and collaboration
Bottom reactive: avoidance and accommodation
Left: low cooperation with competition and avoidance
Right: high cooperation with collaboration and accommodation
What are the 2 categories of collaborators
Sages- true collaborators that understand how to negotiate and create a win win situation
Dreamers- they believe they are collaborators when in rest they are just accommodating or competing
What are the 4 basic interaction styles
1) drivers
2) expressives
3) amiables
4) analyticals
What is the drivers style and what is their tendency
Don’t want to lose the deal, negotiating worries them, want to look at the bigger issue/ picture but with little interest in detail
Fast paced and task focused- compete
What are expressive style and tendency
Wannabe collaborators, vocal, get bored with negotiating
Fast paced and people focused- collaborate
What are amiables style and tendency
Want everyone to be happy, conflict bothers them the most
People focused and slow paced- tend to be accommodative
What are analyticals and their tendency
Collect a lot of data, analyze it, make sure accurate, do not like mistakes
Task focused and slow paced- tend to Avoid
What are the 5 basic negotiating strategies
1) avoidance
2) accomodation
3) collaboration
4) competition
5 compromise
When should you use avoidance
For a minimal issue or if there is a superior option elsewhere
When should you use accomodation
Use it when you are in a significantly weaker bargaining position and when you have no leverage or influence
When should you use competition
When opponent not inclined or capable of collaborating or not worth the effort to collaborate
When should you collaborate
When the situation presents a significant opportunity with capable and willing decision makers on all sides
80/20 rule- only happens 20% of time
When should you compromise
Only when you can’t collaborate, so meet in middle
Don’t use at beginning, not effective
After all strategies
