The Negotiation Checklist - Simons and Tripp.pdf

4 what is your target you set your target based on

Info icon This preview shows pages 8–10. Sign up to view the full content.

View Full Document Right Arrow Icon
4. What is your target? You set your target based on what you know about the other side. By this point, you should know what is the least favorable agreement that you will accept, and you have estimated the other side’s least favorable, acceptable agreement. Now consider the most favorable agreement for you. This is your upper limit—the top of your range. If you focus primarily on your resistance point, which is the bottom of your range, you are un- likely to secure an agreement that is far superior to that resistance point. To properly set your target, you must consider the bargaining zone, and to do that you have to sum up the other side’s situation. The bar- gaining zone is the range between the two parties’ resistance points, comprising the range of mutually acceptable agreements. C. T HE S ITUATION By this point you have drawn up a fairly accurate picture of the issues and the priorities that constitute the negotiations. Here are some addi- tional contextual factors to consider to help you maximize your advan- tages and minimize your risk of making mistakes. 1. What deadlines exist? Who is more impatient? The negotia- tor who feels a greater sense of ur- gency will often make rapid conces- sions in an effort to secure a deal quickly. Many Western cultures have a quick-paced approach to negotia- tions. When paired with negotiators from cultures that negotiate deliber- ately (e.g., Japan, India), quick nego- tiators risk getting unfavorable agreements. A good way to slow down your pace is to avoid negotiat- ing under a close deadline. Flexibil- ity with regard to time can be a negotiating strength. 2. What fairness norms or reference points apply? Negotia- tions often involve a discussion of what might constitute a “fair deal.” In fact, some experts recommend the approach of always negotiating over the “principle” or standard that you will use to assess fairness before
Image of page 8

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
22 CORNELL HOTEL AND RESTAURANT ADMINISTRATION QUARTERLY For Further Reading Some of the ideas and material for this paper were compiled from the following sources, among others. —T.S. and T.M.T. H. Cohen, You Can Negotiate Anything (Secaucus, NJ: Lyle Stuart, 1980). R. Fisher and W. Ury, Getting to Yes: Negotiating Agreement Without Giving In (New York: Penguin Books, 1981, 1991). D.A. Lax and J.K. Sebenius, The Manager as Negotiator (New York: Free Press, 1986). R.J. Lewiciki, J.A. Litterer, D.M Saunders, and J.W. Minton, Negotiation: Readings, Exercises, and Cases (Homewood, IL: Irwin, 1993). M.A. Neale and M.H. Bazerman, Cognition and Rationality in Negotiation (New York: Free Press, 1991). H. Raiffa, The Art and Science of Negotiation (Cambridge: Harvard University Press, 1982). getting down to details and num- bers. The abstract discussion may be less threatening or emotionally charged than the details, and may result in a more cooperative tone and outcome for the negotiation. Recognize, however, that there are many valid ways to determine fairness, and each negotiator will often choose the fairness norm that most favors his or her position.
Image of page 9
Image of page 10
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern