Establish social standards If a clear norm exists regarding intelligent behavior, social comparisons hardly matter in negotiation. Often the rule is not clear, and parties are quick to select appropriate or inappropriate comparisons. In 1998, some enterprise resource planning specialists discovered that those who know SAP software products earn over $200 per hour. Within a […]
Know the other side’s benchmark It’s also important to consider who or what your negotiating opponent has selected as a yardstick. In all likelihood, she wanted favorable comparisons, which may cause her to be overly optimistic about what she can achieve. If so, try to help her adjust her aspirations and work with her to […]
Are people concerned about status in any negotiation? Yes, they are. The question is, how do you deal with your concerns and those of the others? This is part one of six-part knowledge letter sharing guidelines applicable in most situations. Select the correct benchmark Often the negotiators make tacit comparisons with others. When the other […]
Internet and its applications continue to commoditize offerings of several service companies. The sales executives of these companies now deal mostly with the procurement departments rather than the senior executives. Under the current market dynamics, an ability to differentiate between selling problem vs. a negotiating problem can mean millions of dollars in an organization’s performance […]
John, the majority owner of hotel Dixie in West palm, offered to sell the hotel to its manager, Ajit, at its book value. This was a once-in-a-lifetime opportunity for Ajit. He quickly lined up an investor. Since hiring Ajit three years ago, the hotel performance had zoomed from forty percent to full occupancy. Ajit, however, […]
It is late afternoon on Friday before the Labor Day weekend. Stacy is wrapping up at work, getting ready to drive to Hershey, PA, for some family fun. Just as she is about to leave, her supervisor hands her an RFP (request for proposal). “Hey, Stacy, please complete this so that customer can review first […]
Understand the environment What kind of situation are you dealing with? Does it promote collaborative behavior or adversarial conduct? It is not always that the other side is poor negotiators. Other factors could influence their stance. In general, long-term relationships, voluntary relationships, private informal setting, emotionally detached from the deal and absence of irritants will […]
Let’s face it. Life is a negotiation. Now, imagine Yourself succeeding every day. When you read Trends, Topics, and Tactics, you learn how to: Bring a protracted bargaining process to a stop with a “close” move. Ask, “What would it take to get this done right now?” Establish the other party’s position and expose any […]