ORGS 4560 Lecture 4: Six Ways to Build Trust in Negotiations
2 Jan 2016
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Need to establish trust at bargaining table, because all negotiations involve risk. Ex: there is mistrust between rlx and impress: impress announces that it will take business elsewhere, kristen, worker at rlx wanted to try to win back the account (trying to get her. Mba and was taking negotiation and mediation classes: after much negotiation, impress re-signed; saved the firm million in revenues. Kristen"s success factors: recognized impress"s interest, found and brought up concerns impress had before conflict escalated, offered impress perks to show good faith, built trust prior to negotiating. Can allow both parties to share sensitive information without getting exploited. Trust is indefinable in high-stress, high-stakes conditions. Negotiators need to catch the nuances and cultural implications behind what is being discussed. Must pay attention to how other side uses words to convey ideas. Need to know other party"s history, culture, and perspective. Fluency signals readiness to follow through on negotiated settlement.
