BU121 Lecture Notes - Lecture 9: Ice Cream Cone, Ostrich
Document Summary
What a negotiation is and why it is important. Which strategy you will likely tend towards, and how to determine the other party"s tendency. The process to follow to prepare for a successful negotiation. The negogtiation strategies available and when each is most appropriate given their interaction style. The difference between positional and principled negotiations and distributive and integrative bargaining. How and why to engage in a principled approach to negotiating. Ongoing process through which two or more parties whose positions are not necessarily consistent, work in an effort to come to an agreement. If you don"t see it as a process, you will likely end up at a not effective end. Negotiaphobia disease of attitude and skill deficiency: you always negotiate in business, operations, marketing, finance, etc, many people see negotiations as act of combat or conflict, skill you need to work on. Engage: recognize you are in a negotiation and quickly review viable strategies.
