the deal making processpersonal respectful and fair to both sides Price centric

The deal making processpersonal respectful and fair

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the deal-making process—personal, respectful, and fair to both sides § Price-centric tactics leave these potential joint gains unrealized Fix it by: understanding price and gains are not the same thing o Letting positions drive out interests § Incompatible positions may mask compatible interests. Your gain isn’t necessarily your “opponent’s” loss. Fix it by: finding out everyone’s wants o Searching too hard for common ground § While common ground helps negotiations, different interests can give each party what it values most, at minimum cost to the other. Fix it by: don’t try as hard and just get right to the negotiation o Neglecting BATNA § BATNAs (“best alternative to a negotiated agreement”) represent your actions if the pro- posed deal weren’t possible; e.g., walk away, approach another buyer. Assessing your own and your partner’s BATNA reveals surprising possibilities. Fix it by: knowing your audience and how people react to different bits of information o Failing to correct for skewed vision § Two forms of bias can prompt errors: Role bias: overcommitting to your own point of view and interpreting information in self-serving ways. A plaintiff believes he has a 70% chance of winning his case, while the defense puts the odds at 50%. Result? Unlikelihood of out-of-court settlement. Partisan perceptions: painting your side with positive qualities, while vilifying your “opponent.” Self-fulfilling prophecies may result. Counteract these biases with role-plays of the opposition’s interests. Fix it by: Understand all interests, don’t be over or under confident, and negotiate before it’s too late
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Negotiation Dos o Solve the Right Negotiation Problem o Have a good relationship o Understand Social Contact o Know the process o KNOW EVERYONE’S INTERESTS Negotiation Video What we learned in the experiment Conflict PPT Conflict: When incompatible activities exist. When another individual or group interferes (actively or passively) in meeting your goals or objectives. Three levels of Conflict o Perception (thinking) § “He doesn’t buy into our approach and is not on our side.” o Emotions (feeling) § “She makes me angry because she is always undermining my actions.” o Behavior (acting) § “He actively puts road blocks in my way.” Types of conflict o Task conflict: Conflicts over content and goals of the work o Relationship conflict: Conflict based on interpersonal relationships o Process conflict: Conflict over how work gets done o Functional conflict: Conflict that supports the goals of the group and improve its performance o Dysfunctional conflict: Conflict that hinders group performance Conflict and Unit Performance
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Different Styles of Conflict o Aggressive/Confrontational: directive and judgmental o Assertive/Persuasive: open and determined o Observant/Introspective: listen and cooperate/conciliate o Avoiding/Reactive: avoid and suppress feelings Conflict Management Styles/Approaches to Conflict (skip two pages to learn more)
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  • Fall '11
  • JohnHurley

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