Business Fundamentals of Negotiation

Position negotiation as a strategic, win-win process that resolves conflicts and allocates scarce resources across two or more parties in business and daily life.

Explore interdependence in negotiation, distinguishing distributive zero-sum versus integrative non-zero-sum outcomes, BATNA, mutual adjustments, and the value creation versus value claiming dilemmas of honesty and trust.

Examine substantive and emotional conflict in interdependent relations, distinguish levels from interpersonal to intergroup, and explore constructive conflict, dysfunctions, and management styles to identify problems and improve morale.

Explore the dual concerns model of conflict management, mastering five strategies—problem solving/integrative, contending, yielding, inaction, and compromising—and learn when each suits issue complexity and time constraints.

Planning in negotiation boosts winning chances by clarifying objectives, revealing strengths and weaknesses, and guiding flexible strategies through seven steps from preparation to implementation, including tangible and intangible goals.

Identify issues and form a bargaining mix to reveal interests and limits, then set opening offers, assess constituents, and choose a strategy to follow the protocol.

This lecture introduces distributive negotiation as a zero-sum, win-lose style, detailing initial offers, target prices, resistance points, and contrasts with integrative negotiation.

Identify and counter hardball tactics like good cop/bad cop, lowball/highball, chicken, intimidation, and snow job; counter with questions, research alternatives, threaten to walk away, and use team negotiation.

Integrative negotiation pursues win-win outcomes by focusing on interests, open information exchange, and mutual gains, with four steps: define the problem, understand needs, generate alternatives, and evaluate solutions.

Explore how perception and cognition shape negotiation, highlighting biases such as stereotyping, projection, halo effects, and framing to improve decision making.

Examine how international negotiation styles drive bargaining and cooperation in cross-cultural contexts, addressing win-win challenges, cultural norms, trade barriers, government interference, currency fluctuations, and the need for careful preparation.