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Management article
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Reference no. N0512D
Published by: Harvard Business Publishing
Published in: "Negotiation Newsletter", 2005

Abstract

Conventional negotiation theory doesn''t say much about how to craft and execute strategy in constantly changing markets. But modern military science, which deals with contexts in which uncertainty, risk, and change are the only constants, offers powerful lessons for negotiators, whether they are settling disputes or making deals. First, make a bump plan to deal with the mental and organizational friction that infiltrates negotiation; this means ultimately making an informed bet on how you expect things to unfold, while also contemplating what you''ll do if events go the other way. Second, have a bias for action; become proactive to gain a firsthand reading of the market and a key role in shaping how the game evolves. Finally, be open to learning and adapting - bolstering your capacity to sense and respond is key to prospering in turbulent situations. Read more about what the US Marine Corps'' strategy bible and other military sources have to teach negotiators.
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Abstract

Conventional negotiation theory doesn''t say much about how to craft and execute strategy in constantly changing markets. But modern military science, which deals with contexts in which uncertainty, risk, and change are the only constants, offers powerful lessons for negotiators, whether they are settling disputes or making deals. First, make a bump plan to deal with the mental and organizational friction that infiltrates negotiation; this means ultimately making an informed bet on how you expect things to unfold, while also contemplating what you''ll do if events go the other way. Second, have a bias for action; become proactive to gain a firsthand reading of the market and a key role in shaping how the game evolves. Finally, be open to learning and adapting - bolstering your capacity to sense and respond is key to prospering in turbulent situations. Read more about what the US Marine Corps'' strategy bible and other military sources have to teach negotiators.

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