The 10 Minute MBA Course On Negotiation

Want to learn the negotiation tactics of an MBA?

Preparation

-Always, do your homework. Success in negotiation is strongly correlated with time spent preparing-

-Preparing in a group helps; others will come up with things you didn’t-

-Be ambitious. There’s usually a connection between aspiration level and what people get. (Obviously, you can go too far, so look at your benchmarks.)-

-It’s very valuable to have things you don’t want in a negotiation so you can give them away for things you do-

Early In The Negotiation

• Focus on influencing them, not being passive and waiting for them to decide. If you want to influence them be clear and consistent. Influencing is like teaching. You are teaching the other group to negotiate. Explicitly talk with the other side about not just substance (making money) but also process (rules of the game.)

• Act with a purpose, don’t react. Most people act without thinking. Decide how you want them to act and what you need to do to encourage that. People’s behavior is not to be predicted, it’s to be affected.

• Small talk before a negotiation is good

• Your first goal in every negotiation should be to find out more

• Always begin with the frame “Should this deal be made?” not “How should I make this deal?”

Things That Help In A Negotiation

• Accurate information sharing.

• Structure the negotiation so there is no incentive to bluff (starting with what you don’t want works here)

• Simultaneous revelation (write down and show offers at same time)

• Keeping commitment for the end.• Creating multiple options.

• Both sides like each other and want the other person to be happy

Prepared by

Malik Muhammad AhadHead Of Strategic & PlanningHelios Pakistan