Truth about Negotiations [NOOK Book]

Overview


About the Author:
Leigh Thompson is the J. Jay Gerber Distinguished Professor of Dispute Resolution and Organizations at the Kellogg School of Management, Northwestern University

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Truth about Negotiations

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Overview


About the Author:
Leigh Thompson is the J. Jay Gerber Distinguished Professor of Dispute Resolution and Organizations at the Kellogg School of Management, Northwestern University

Read More Show Less

Product Details

  • ISBN-13: 9780137130474
  • Publisher: Pearson Education
  • Publication date: 9/20/2007
  • Sold by: Barnes & Noble
  • Format: eBook
  • File size: 336 KB

Meet the Author

Leigh Thompson is a Distinguished Professor of Dispute Resolution & Organizations at the Kellogg School of Management at Northwestern University. She directs the Leading High Impact Teams executive program, the Kellogg Team and Group Research Center, and co-directs the Negotiation Strategies for Managers program.

An active scholar and researcher, she has published more than 95 research articles and chapters and has authored 7 books, including: The Mind and Heart of the Negotiator (3rd Edition), Making the Team (3rd edition), and Organizational Behavior Today (in press); and edited 5 books, including: Creativity and Innovation in Organizational Teams, Shared Knowledge in Organizations, Negotiation: Theory and Research, The Social Psychology of Organizational Behavior, and Conflict in Organizational Groups (in press).

Thompson speaks and conducts workshops on negotiation skills across the globe. Some of her clients include: Bristol-Meyers Squibb, Microsoft, Chubb Insurance, Corn Products International, Sears Holdings, Baxter Healthcare, Chiquita Brands, Lamb Weston, CDW, Fleet Financial, Heller Financial, Novartis, as well as Sandia National Laboratories and the Central Intelligence Agency.

Visit her at: www.LeighThompson.com.

 

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Read an Excerpt

PrefacePraise Quotes

"The 53 Truths provide incredible insight into the art and science of negotiating. This is a must read for sales professionals but is equally beneficial to all who wish to be better negotiators."

CHRIS WEBER, Vice President, West Region Enterprise, Microsoft Corporation

"Negotiation skills can and must be learned. In her new book, Leigh provides the framework. A must read for negotiators at all levels of ability."

Anthony Santiago, Vice President, Global Sourcing & Supplier Management, Bristol-Myers SquibbPreface

You spend more time negotiating than you do driving to work each day. Most of us take our driving seriously: We've studied, practiced, and taken a driving test. We have a license, insurance, a car, and a fancy navigation system; we know the rules of the road, and we hope that people who disobey those rules will get pulled over and ticketed. These investments mean that we don't sit up at night worrying about how we are going to drive ourselves to work. We have the equipment, we know what we are doing, and we get there. We feel ready, prepared.

Going to negotiation every day should be the same way. Yet, if you are like most people, you spend countless hours fretting about upcoming negotiations. "What should I say?" "Should I open first or no?" "What do I do if they don't accept my offer?" and so on.

This book is about how to make sure you are prepared and ready to negotiate on the roughest of terrain, with the most daunting road conditions.

The need to negotiate can happen at any time—sometimes once a day,and sometimes more than once a day. Any time you cannot reach your goals without the cooperation of someone else, you are propelled headlong into negotiation. You may not be engaged in a hostage negotiation, or striking a deal for millions of dollars worth of a product or service for a company, but the importance of arriving at a point where you and the other party both feel you win is as vital to your peace, sanity, and productiveness. For example, if your goal is to eat dinner in peace and your young child is demanding that you fix a toy or play a game, you must negotiate.

If your goal is to sell your house and upgrade to a nicer house with a heftier mortgage, you must negotiate with your penny-pinching spouse, who may not be up for the move. You sometimes are thrown into negotiations when you least expect it—such as when somebody has the nerve to claim what you thought was yours. Imagine that a coworker announces he or she wants to "reconsider" the project responsibilities that you thought you both already agreed to. Or your neighbor claims it is your job to repair a fence that fell down after a freak thunderstorm.

The simple question I ask in this book is: "Are you ready to negotiate at the drop of a hat?" If your answer is anything but "Yes, certainly," then please read on. One false move in negotiations of major importance, such as salary negotiations, house buying, and car buying can have a dramatic negative consequence on your economic welfare for years to come. Given that your quality of life is affected by your ability to bring home the bacon as well as eat it in quiet dignity, knowing how to negotiate in the corporate world and in the kitchen is essential for peace of mind and retirement.

This book does three things: First, it provides a game plan that works in any negotiation situation. I dispel the faulty belief that negotiations in boardrooms or real estate deals are fundamentally different from salary negotiations, school and community negotiation...and, yes, negotiations with spouses and kids. Chances are, if you are great at making real estate deals, then you also will be great at negotiating with a caterer for your local charity's fund-raiser.

Second, this book focuses on the two key tasks of any negotiation: how to create win-win deals by leveraging information carefully collected by the other party, and how to effectively lay claim to part of the win-win goldmine.

Finally, this book talks about how to handle less-than-perfect situations, such as when you make a threat (that you did not really mean), how to establish trust with someone you don't trust, how to walk away at the right time, and negotiating with people you don't really like, and at the other end of the spectrum, who you love very much.

Negotiation may sound daunting, but if you are informed, practiced, and prepared, even you can do it. And that's the truth.

© Copyright Pearson Education. All rights reserved.

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Table of Contents


Introduction     vii
If you have only one hour to prepare...     1
Negotiation: A natural gift?     5
Rehearsal might get you to Carnegie, but it won't help you negotiate     7
The power of making the first offer     11
What if you don't make the first offer?     15
Don't be a tough or a nice negotiator     19
Four sand traps in the golf game of negotiation     23
Your industry is unique (and other myths)     27
Identify your BATNA     31
It's alive! Constantly improve your BATNA     35
Don't reveal your BATNA     39
Don't lie about your BATNA     43
Signal your BATNA     47
Research the other party's BATNA     51
Develop your reservation price     53
Beware of ZOPA myopia     57
Set optimistic but realistic aspirations     61
Plan your concessions     65
Be aware of the "even-split" ploy     69
The pregame     73
The game     77
The postgame     81
What does "win-win" really mean?     85
Satisficing versus optimizing     89
There are really only two kinds of negotiations     93
Ask triple-I questions     97
Reveal your interests     101
Negotiate issues simultaneously, not sequentially     105
Logrolling (I scratch your back, you scratch mine)     109
Make multiple offers of equivalent value simultaneously     113
Postsettlement settlements     117
Contingent agreements     121
Are you an enlightened negotiator?     125
The reciprocity principle     129
The reinforcement principle     133
The similarity principle     137
Know when to drop an anchor     141
The framing effect     145
Responding to temper tantrums     149
What's your sign? (Know your disputing style)     151
Using power responsibly     155
Saving face     157
How to negotiate with someone you hate     161
How to negotiate with someone you love     165
Building the winning negotiation team     169
What if they arrive with a team?     173
Of men, women, and pie-slicing     177
Know why the fish swim     181
It does not make sense to always get to the point...     185
Negotiating on the phone     189
Your reputation     193
Building trust     197
Repairing broken trust     201
References     205
Acknowledgments     211
About the Author     212
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Preface

PrefacePraise Quotes

"The 53 Truths provide incredible insight into the art and science of negotiating. This is a must read for sales professionals but is equally beneficial to all who wish to be better negotiators."

CHRIS WEBER, Vice President, West Region Enterprise, Microsoft Corporation

"Negotiation skills can and must be learned. In her new book, Leigh provides the framework. A must read for negotiators at all levels of ability."

Anthony Santiago, Vice President, Global Sourcing & Supplier Management, Bristol-Myers Squibb

Preface

You spend more time negotiating than you do driving to work each day. Most of us take our driving seriously: We've studied, practiced, and taken a driving test. We have a license, insurance, a car, and a fancy navigation system; we know the rules of the road, and we hope that people who disobey those rules will get pulled over and ticketed. These investments mean that we don't sit up at night worrying about how we are going to drive ourselves to work. We have the equipment, we know what we are doing, and we get there. We feel ready, prepared.

Going to negotiation every day should be the same way. Yet, if you are like most people, you spend countless hours fretting about upcoming negotiations. "What should I say?" "Should I open first or no?" "What do I do if they don't accept my offer?" and so on.

This book is about how to make sure you are prepared and ready to negotiate on the roughest of terrain, with the most daunting road conditions.

The need to negotiate can happen at anytime—sometimes once a day, and sometimes more than once a day. Any time you cannot reach your goals without the cooperation of someone else, you are propelled headlong into negotiation. You may not be engaged in a hostage negotiation, or striking a deal for millions of dollars worth of a product or service for a company, but the importance of arriving at a point where you and the other party both feel you win is as vital to your peace, sanity, and productiveness. For example, if your goal is to eat dinner in peace and your young child is demanding that you fix a toy or play a game, you must negotiate.

If your goal is to sell your house and upgrade to a nicer house with a heftier mortgage, you must negotiate with your penny-pinching spouse, who may not be up for the move. You sometimes are thrown into negotiations when you least expect it—such as when somebody has the nerve to claim what you thought was yours. Imagine that a coworker announces he or she wants to "reconsider" the project responsibilities that you thought you both already agreed to. Or your neighbor claims it is your job to repair a fence that fell down after a freak thunderstorm.

The simple question I ask in this book is: "Are you ready to negotiate at the drop of a hat?" If your answer is anything but "Yes, certainly," then please read on. One false move in negotiations of major importance, such as salary negotiations, house buying, and car buying can have a dramatic negative consequence on your economic welfare for years to come. Given that your quality of life is affected by your ability to bring home the bacon as well as eat it in quiet dignity, knowing how to negotiate in the corporate world and in the kitchen is essential for peace of mind and retirement.

This book does three things: First, it provides a game plan that works in any negotiation situation. I dispel the faulty belief that negotiations in boardrooms or real estate deals are fundamentally different from salary negotiations, school and community negotiation...and, yes, negotiations with spouses and kids. Chances are, if you are great at making real estate deals, then you also will be great at negotiating with a caterer for your local charity's fund-raiser.

Second, this book focuses on the two key tasks of any negotiation: how to create win-win deals by leveraging information carefully collected by the other party, and how to effectively lay claim to part of the win-win goldmine.

Finally, this book talks about how to handle less-than-perfect situations, such as when you make a threat (that you did not really mean), how to establish trust with someone you don't trust, how to walk away at the right time, and negotiating with people you don't really like, and at the other end of the spectrum, who you love very much.

Negotiation may sound daunting, but if you are informed, practiced, and prepared, even you can do it. And that's the truth.


© Copyright Pearson Education. All rights reserved.

Read More Show Less

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