MNO3702
LESSON 1
- Can’t achieve our objectives hence we go into negotiation
- Joint decision but have different preferences
But, intuition can be developed over time.
Experience is an expensive way to learn
Simulation based negotiation classes provide risk free setting
Negotiation Exercise: Creamery @ Holland
- Restuarant taekover deal
Seller: Travis from Tanaka’s Tavern
Buyer: Carol from Creamery ice cream chain
Anchoring - can offer a very low price to make the other party doubt and hence reduce price.
Batna is my greatest source of power
- improve your batna before and when you negotiate
- do not fall in love with one alternative
- counterpart’s perceptions of your batna is also very important
