Published by:
Harvard Business Publishing
Length: 12 pages
Topics:
Managerial skills; Negotiations
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https://casecent.re/p/40723
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Abstract
This is an enhanced edition of the HBR reprint R0104E, originally published in April 2001. HBR OnPoint articles include the full-text HBR article plus a summary of key ideas and company examples to help you quickly absorb and apply the concepts. Most executives know the basics of negotiation; some are spectacularly adept. Yet even experienced negotiators routinely leave money on the table, end up in deadlock, damage relationships, or allow conflicts to spiral. They fall prey to common mistakes that keep them from solving the right negotiation problem. In any negotiation, each side ultimately chooses between two options: accepting a deal or taking its best no-deal option--that is, the course of action if a deal were not possible. As a negotiator, you seek to advance your interests by persuading the other side to say yes to a proposal that meets your interests better than your best no-deal option. Because the other side will say yes only to a proposal that meets its own interests better than its best no-deal option, you must understand and shape your counterpart''s decision so that it chooses in its own interest what you want. In this article, James Sebenius compares good negotiating practice with bad, providing examples from the business world and insights from 50 years of research and analysis on negotiation.
About
Abstract
This is an enhanced edition of the HBR reprint R0104E, originally published in April 2001. HBR OnPoint articles include the full-text HBR article plus a summary of key ideas and company examples to help you quickly absorb and apply the concepts. Most executives know the basics of negotiation; some are spectacularly adept. Yet even experienced negotiators routinely leave money on the table, end up in deadlock, damage relationships, or allow conflicts to spiral. They fall prey to common mistakes that keep them from solving the right negotiation problem. In any negotiation, each side ultimately chooses between two options: accepting a deal or taking its best no-deal option--that is, the course of action if a deal were not possible. As a negotiator, you seek to advance your interests by persuading the other side to say yes to a proposal that meets your interests better than your best no-deal option. Because the other side will say yes only to a proposal that meets its own interests better than its best no-deal option, you must understand and shape your counterpart''s decision so that it chooses in its own interest what you want. In this article, James Sebenius compares good negotiating practice with bad, providing examples from the business world and insights from 50 years of research and analysis on negotiation.