Negotiation Flashcards
If they induce a stressful environment what should you do?
Identify the element and suggest a change
Take it or leave it strategy - how should you manage?
Decline to recognize this as the final offer
Stonewalling - other side is refusing to reach an agreement unless the offer is irresistible. What should you do?
Set a deadline, or break off negotiations
Pity me approach
Discuss the facts, not emotions
Use status to intimidate…how should you manage this?
Make sure you are prepared, the. You won’t feel inferior
If they present an unreasonable demand, what should you do?
Remain silent
What is the Good Samaritan technique?
Acting as though they are doing you a huge favour or making a great sacrifice
Good cop bad cop- trying to elicit feelings of sympathy and understanding. What should you do?
Treat both people the same and discuss facts with both.
What are Spiralling Agreements?
Reaching a minimum agreement, and then building bit by bit.
What is the first step of problem solving?
Coming up with as many ideas as possible. Brainstorm.
What are the four principals of negotiation?
Separate people from the problem
Create a variety of options
Focus on INTERESTS, not positions
Use objective criteria
What is the 70/30 rule?
70% preparation,
30% execution
What gives you power in a negotiation?
Knowing your BATNA because it enables you to walk away.
What helps in preventing dirty tricks?
Establishing ground rules
What are five negotiation tactics?
Win/win Spiralling agreements Making the cake bigger Gathering Information Changing of position
Name the four activities used to conduct a price analysis.
"ROCC" Review the offered price Compare that with published price data Compare the price with historical prices Obtain price data from other institutions
What two ways could a negotiation team establish their price objective?
Price analysis or cost analysis.
A resolution which is direct between the parties with opposing views, and doesn’t involve a third party is what?
Negotiation
What is the Nominal Group Technique?
Focuses on generating alternatives by asking group members to independently write down their ideas, they present them, and then rank them all by voting privately.
When is negotiation complete?
It is complete when the contract is written AND executed.
What do we want negotiation to produce?
A wise agreement, the improves the relationship and is efficient.
If the party is using deliberate deception, what should you do?
Seek verification
Substantive or relationship?
Prices
Sub.
Substantive or relationship?
Degree of mutual understanding
Relat.
Substantive or relationship?
Liabilities
Substantive
Is this part of planning, actual negotiation or completion?
Assess the other side’s alternatives if an agreement isn’t reached
Planning
Is this part of planning, actual negotiation or completion?
Determine whether outside experts are needed
Planning
Is this part of planning, actual negotiation or completion?
Establish the first offer that will be made
Planning
