Term
| What do you do when there is no ZOPA (Zone of Possible Agreement)? |
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Definition
Focus on interests, not positions (ask "why?" to yourself and to your oponent)
Expand the pie |
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Term
| How do you "expand the pie"? |
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Definition
| Share information (know what each side values more will help achieve outcomes that are most important to each side, even if it is not totally within the ZOPA). |
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Term
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Definition
| The possible outcomes associated with sharing valuable information during negotiating. If neither party discloses, no favorable outcome is posible. If one party discloses but the other party does not, the party with more information can take advantage of the trusting party. But if both parties disclose, this is the best chance for a good agreement. |
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Term
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Definition
Role-based- clarify credentials, expertise, experience.
Goal-based- discuss common interests, shared values.
History-based- develop relationship by interacting frequently. |
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Term
| How do you prepare for distributive bargaining ("slicing the pie") |
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Definition
Define your BATNA
Define your Reservation Price
Define your aspiration level (Target)
Prepare "objective" rationales to justify your position. |
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Term
| How do you prepare for an Integrative Bargain ("expanding the pie")? |
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Definition
Define BATNA
Analyze own & others underlying interests.
Analyze own & others priorities (look for differences).
Think outside the box.
Construct multi-issue proposals (aspirations and bottom lines still apply) |
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Term
| How do you negotiate a distributive bargain (slicing the pie)? |
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Definition
Open High
Establish positions
Explore baragaining zone (Positive or Negative ZOPA?)
Demand Concessions
Signal closeness to goal by concession size. |
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Term
| How do you negotiate an integrative bargain (expanding the pie)? |
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Definition
Cooperate
Build Trust
Unpack negotiable issues
Ask for and/or share info about interests and priorites.
Exchange multi-issue proposals. |
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Term
| According to the "Secrets of Power Negotiating," is there such thing as win-win negotiations? |
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Definition
| No! But the key is to win and leave the other side feeling like they've won. |
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Term
| According to "Secrets to Power Negotiating," what is the MPP> |
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Definition
| The maximimum plausible position (the most you can ask for and still appear credible. |
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Term
| According the "Secrets of Power Negotiating," what two negative thoughts do you trigger in your coutnerpart's mind if you answer yes to the first offer? |
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Definition
1) I could have done better
2) Something must be wrong |
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Term
| According to "Secrets of Power Negotiating," what are two ways to avoid causing mistrust after the oponent makes his first offer? |
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Definition
1) Flinch
2) Avoid Confrontation- feel, felt, found: "I understand how you feel. Many others have felt the same way, but I've found that..." |
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Term
| The Reluctant Buyer/Relunctant Seller technique (Secrets to Power Negotiating) |
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Definition
| Reject the first offer as if you are in a position to walk away then ask what is the best price they can offer. |
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Term
| The Vise Technique (Secrets to Power Negotiating) |
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Definition
| "You'll have to do better than that" |
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Term
| Don't Worry about Price Technique (Secrets to Power Negotiating) |
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Definition
| Convince them there is no better place to get a better deal. |
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Term
| The Higher Authority Technique (Secrets of Power Negotiating) |
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Definition
| Postpone a decision by pretending to run the deal by some higher authority. If you come back to the table and start to back away from their offer it doesn't make you look bad, just the "higher authority" |
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Term
| Don't Split the Difference Technique (Secrets to Power Negotiating) |
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Definition
| If your oponent never offers than you can get him closer to your high anchor. If he does, then you can always agree and have him walk away feeling like he won because you agreed to his suggestion. |
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Term
| Set it Aside Technique (Secrets to Power Negotiating) |
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Definition
| If there is a stalemate, set the issue asside and come back to it. Once minor issues are settled and there is more goodwill in the discussion then take up the bigger issues. |
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Term
| Make Time Your Ally Techniqe (Secrets to Power Negotiating) |
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Definition
| The longer you can keep the other party involved in the negotiations, the more likely he is to move around to your point of view. |
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Term
| The Most Dangerous Moment |
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Definition
| When you think the negotiations are over...your oponent is most likely to ask for concessions then. |
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Term
| Your Most Powerful Weapon |
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Definition
| The power to walk away if the deal is not going your way. |
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