This document summarizes key points about negotiation presented by Mustafa Fathi, Ahmed Elhaddad, and Ahmed Ali to Dr. Hassan Wagih. It discusses the dynamic and global nature of business, increasing interdependence and competition, and opportunities/challenges of the information age. It outlines common negotiation mistakes and problems related to egocentrism, confirmation bias, satisficing, and self-reinforcing incompetence. It debunks common myths about negotiation and provides a general strategy and enlightened model for successful negotiation based on actively challenging oneself and viewing the other party as equally motivated and intelligent.

1. Presented By: Presented To:
•Mustafa Fathi •Dr. Hassan Wagih
•Ahmed Elhaddad
•Ahmed Ali
ESLSCA - 39B

2.  Dynamic nature of business
Mobility and flexibility are the dictates of the new world of work.
 Interdependence
The increasing interdependence of people within organizations, both
laterally and hi-erarchically, implies that people need to know how to
integrate their interests and work across business units and functional
areas.
 Competition
Business is increasingly competitive.
 Information age
The information age also provides special opportunities and challenges
for the manager as negotiator.
 Globalization
Most managers must effectively cross cultural boundaries to do their
jobs.

3.  Leaving money on the table (Known as
“lose-lose” negotiation)
 Settling for too little (Known as the “winner’s
curse”)
 Walking away from the table
 Settling for terms worse than your
alternative (Known as the “agreement bias”)

4. The problem is rooted in four fundamental problems: -
 Egocentrism: is the tendency for people to view their
experiences in a way that is flat-tering or fulfilling for themselves.
 Confirmation Bias: is the tendency of people to see what
they want to see when appraising their own performance.
 Satisficing: is the opposite of optimizing.
 Self-Reinforcing Incompetence: is the fact that people are
reluctant to change their behavior and experiment with new
courses of action be-cause of the risks associated with
experimentation.

5. Myth 1: Negotiations are fixed-sum
Myth 2: You need to be either tough or soft
Myth 3: Good negotiators are born
Myth 4: Experience is a great teacher
Myth 5: Good negotiators take risks
Myth 6: Good negotiators rely on intuition

6.  Improve your ability to negotiate successfully
Will need to actively challenge yourself.
 General strategy for successful negotiation
That negotiation skills are transferable across
situations.
 Enlightened model of negotiation (Fraternal Twin
Model)
Which assumes that the other person you are
negotiating with is every bit as
motivated, intelligent, and prepared as you are.

7. Thank You