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Negotiation review 2

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on 24 November 2014

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Transcript of Negotiation review 2

Negotiation Review
Availability of Information Bias
When information that is presented in vivid, colorful, or attention-getting ways it becomes easy to recall, and thus also becomes central and critical in evaluating events and options.

This occurs when one believes they are more accurate or correct than they actually are. This bias has a two-fold effect. In addition to compounding an inaccurate viewpoint, it can simultaneously discredit the other party’s input.
Mood, Emotion, and Negotiation
The distinction between mood and emotion is based on specificity, duration, and intensity.

Moods are longer, but not as intense and specific as emotions. Negotiations will certainly produce either negative or positive emotions for either side. These emotions play a major role in how negotiations will play out.
After the Close
This is typically the most dangerous moment in the negotiation. Commonly, two areas need consideration after coming to an agreement...
1. Avoiding Fatal Mistakes
Parties are susceptible to cognitive and perceptual errors throughout the negotiation, but may be even more vulnerable after closing because they are rushing to wrap things up.
2. Achieving Closure
Negotiators need to be cognizant of when to shut up or not make a dumb remark that blows the already agreed to arrangement. This also means not letting the remarks or information you receive from the other party dissuade you from reaching closure.

What are the most critical precursors (preconditions) for achieving negotiation objectives?

Effective strategizing, planning and preparation.

Strategy Versus Tactics
Cognitive Biases in Negotiation
Which of the following is not a cognitive bias?

The irrational escalation of commitment, the belief that the issues under negotiation are all “fixed pie”, the process of anchoring and adjustment in decision making, the winner’s curse are all cognitive biases.

Perceptual Distortion
Halo effects occur when

People generalize about a variety of attributes based on the knowledge of one attribute of an individual.
Active Listening
The listener repeats in their own words what the speaker has said, in order to relay to the speaker their understanding of what they have heard
The most powerful weapon in negotiation
Proper planning requires:
Determining your goals
Deciding how to achieve your goals
Putting a great deal of thought and consideration into your goals
Making certain the goals and objectives are clear
Goals should be listed, prioritized, packaged into possible multi-goal sets and evaluated with considerations for possible trade-offs
Considering an effective strategy and the tactics you will use within your strategy to reach your goals
In order to maximize the negotiator's standing, they must remain aware of biases that happen naturally within the process of decision making and negotiation
Pragmatic Style
Uses a combination of logical and inferred messages
Parties may react more to the implied message (what they perceive the message to be)
Negotiation: Strategy and Planning
Without a strategy you cannot pinpoint your goals. A plan helps you to reach your goals. The preparation makes reaching your goals a possibility.
I often attach a positive perception to people based on if they are smiling when I meet them.
Goals -
The Focus That Drives a Negotiation Strategy
Substantive, Intangible, and Procedural goals are all part of the negotiation strategy.
Procedural goals focus on shaping the agenda.
Unilateral vs. Bilateral
Approaches to Strategy
A unilateral approach is intentionally ignorant of the other negotiator. Most often a bilateral approach is preferred.
Communication About Process
Continuing to debate to the end with no breaks will do little to resolve conflict or reduce tension.
Active Engagement Strategies
Accommodation, Competition, Collaboration
Accommodation strategy is strong interest in achieving only the relationship outcomes while competition strategy. Seeks substantive interests for personal gain. Collaboration is working together for mutual benefit.
Characteristics of Accommodating Engagement Strategy
The relationship can be either short-term or long-term depending on the context and purpose of the negotiation.
Perception, Cognition and Emotion
Persuasion is one of the most important skills you can have in negotiations and life. Some have a natural ability, but it can be learned by anybody.
Four Steps to Effective Persuasion
Establish Credibility
Frame for Common Ground
Provide Evidence
Connect Emotionally
A solid argument by itself is not effective unless it is done in conjunction with the above steps
A key issue in perception and negotiation is framing. A frame is the subjective mechanism through which people evaluate and make sense out of situations
Substantive—what the conflict is about.
Outcome—a party’s predisposition to achieving a specific result or outcome from the negotiation.
Aspiration—a predisposition toward satisfying a broader set of interests or needs in negotiation.
Process—how the parties will go about resolving their dispute.
Identity—how the parties define “who they are.”
Characterization—how the parties define the other parties.
Loss–gain—how the parties define the risk or reward associated with particular outcomes.
All information retrieved from "Essentials of Negotiations" by Lewicki R., Saunders D., & Barry B.
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