Negotiation

Question 1

What to do before entering a negotiation

Answer 1

BATNA- Best Alternative To a Negotiation Agreement, always have a backup plan when entering the negotiation.
Set target and resistance points
- Target is what you want to get
- Resistance is what you will not take/ lowest outcome

Question 2

2 Different ways to negotiate

Answer 2

Distributive- Us vs Them, zero game. Short term relationship

Integrative- Find a solution that benefits both sides. Expand the pie. Long term relationship

Question 3

Different issues in negotiation

Answer 3

Distribution- Zero sum issue, one person wins the other loses. Ex/ Pay
Integrative- Means a lot to another party, not so much to you
Collaborative- Same for both sides. By agreeing, benefits both sides a

Question 4

Integrative strategies

Answer 4

Share info 
Build trust 
Ask questions 
Make multiple offers simultaneously 
Emphasize similarities, minimize differences

Question 5

Mistakes in negotiations

Answer 5

Escalation of commitment- Sticking to a previous course of actions, refusing to change
Fixed pie myth- Treating every negotiation as distributive
Ancour and adjust- Choosing a point and then meeting in the middle

Question 6

Bargaining zone

Answer 6

the area where your resistance point-target point overlaps with your competitors. Where the settlement is likely to happen

Question 7

Tactics for distributive bargaining

Answer 7

threats 
Persuasion 
Not Budging 
No actual communication 
No compromise 
Be firm