Negotiation and Communication

Question 1

structure of a negotiation

Answer 1

• distributive bargaining (win/lose)
• integrative bargaining (win win)
• congruent bargaining (identical preferences)

Question 2

Impact of the first offer

Answer 2

provide a psychological anchor and the other party’s adjustment to this offer helps to legitimate the anchor

Question 3

objective vs psychological reference points

Answer 3

1. beyond BATNAs, multiple focal points
   - past purchase price
   - past appraised value
   - appraised value
   - selling price of comparable
2. focus on numbers that help your distributive strategy

Question 4

before during and after the distributive tactics - slicing the pie

Question 5

principled negotiation (4)

Answer 5

1. people (separate people from problem)
2. interest (focus on interest, not position)
3. criteria (based result on objective standard)
4. options (generate before deciding)

Question 6

key takeaways for negotiation (5)

Answer 6

1. beware of the fixed pie bias
2. shift from single to multiple issues
3. build trust
4. ask why and what if
5. you are responsible to create value

Question 7

sandwich feedback technique

Answer 7

praise, criticism, praise