Negotiation as a business skill - James Thomas
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Presentation at the APM Women in Project Management Conference, September 2016
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Negotiation as a business skill - James Thomas
- 1. Negotiation as a business skill James Thomas
- 2. Negotiation Definition A discussion or process of treaty with another (or others) aimed at reaching an agreement Oxford English Dictionary
- 3. Why negotiate if the terms are acceptable?
- 5. How do you want the other party to feel after the negotiation?
- 7. Make as much money as you can Player A proposes the split of £100. Minimum offer to other party must be at least £1 Player B accepts or rejects offer by responding ACCEPT or REJECT Possible outcomes ACCEPT - both players keep their respective sums. REJECT - neither party makes any money Note: only one bid is allowed. There shall be no re-negotiation.
- 8. Humans have inbuilt sense of fairness Thirsty people would turn their nose up at a glass of water if they thought the amount they were being offered was too little, a study has shown. Dr Nick Wright of the Wellcome Trust Centre for Neuroimaging at University College London said: 'These findings show that humans, unlike even our closest relatives chimpanzees, reject an unfair offer of a primary reward like food or water ' Photo: Alamy
- 9. 5 common mistakes of negotiators • Talking too much • Soft language • Justifying • Trying to win • Splitting the difference
- 11. The balance of power
- 13. £10 BUYER SELLER Buyer’s walkaway £40 Seller’s walkaway £30 Bargaining Zone Opening Position £10 Opening Position £60 Open ambitiously
- 15. Bargaining PreferencesControl Co-operation Competitor Collaborator Compromiser Avoider Accommodator Ref: Thomas-Kilmann conflict styles
- 16. Gender differences (Ref: Eckerl; De Oliveira; Grossman), Negotiation Journal, Harvard Law School, 2008) • Females more egalitarian than men and tended to ask for less • Females were more likely to reach agreement • Stereotypes appeared to exist in this particular exercise • Helps or hinders negotiation outcomes depending on the outcomes
- 17. Contact details james@serenpartnership.co.uk W: 01252 763 252 M: 07929 160813 www.serenpartnership.co.uk
Editor's Notes
- Selling establishing the need Negotiation agreeing the terms Trade Unions Justification shows weakness to a negotiator Also, if you have to justify, perhaps the other guy is not bought into your proposition Re visit the Sales Process
- Selling establishing the need Negotiation agreeing the terms Trade Unions Justification shows weakness to a negotiator Also, if you have to justify, perhaps the other guy is not bought into your proposition Re visit the Sales Process
- Selling establishing the need Negotiation agreeing the terms Trade Unions Justification shows weakness to a negotiator Also, if you have to justify, perhaps the other guy is not bought into your proposition Re visit the Sales Process
- How do you want the other party to feel after the negotiation Not about the outcome but the satisfaction You don’t believe me? Let me explain Buying a house Greed
- Selling establishing the need Negotiation agreeing the terms Trade Unions Justification shows weakness to a negotiator Also, if you have to justify, perhaps the other guy is not bought into your proposition Re visit the Sales Process
- What in life is fair? Not to be confused with building relationships Confusion between fairness and economic efficiency - £10 fair split £100 divided by 2 strangers in a bar (100 pound coins) Fairness is subjective Nick Clegg
- What in life is fair? Not to be confused with building relationships Confusion between fairness and economic efficiency - £10 fair split £100 divided by 2 strangers in a bar (100 pound coins) Fairness is subjective Nick Clegg
- Power is governs the value in negotiation What affects power? Perception Information or Knowledge Time Circumstance Brand Dependency
- What in life is fair? Not to be confused with building relationships Confusion between fairness and economic efficiency - £10 fair split £100 divided by 2 strangers in a bar (100 pound coins) Fairness is subjective Nick Clegg
- What stops us opening optimistically/extreme? Pride, Shame, Fairness, Politeness, Pre-conceived ideas, Assumptions, Fear, Anxiety Sounds obvious but, the more extreme you open the more likely you are to get a better result. Every price is an extreme opening because people have to make profit. Forecourts, tradesmen, shops even How extreme depends on many factors Why should you open extreme? Shift expectation Allows you to move Delivers satisfaction