Negotiation Excellence: Successful Deal Making

Negotiation Excellence: Successful Deal Making

1. Planning and Preparation for Effective Negotiation

   • Negotiation Analysis: Know the Situation, Yourself, and Your Opponent
     • Negotiation is often defined as three “I’s”
       • they depend on each other to satisfy some needs but they also perceive the interests of the other party as conflicting with theirs

2. Analyze the negotiation context: Opportunities and constraints

   • there are some codes of conduct
     • The historical
     • Economical
     • Legal
     • socio-cultural
   • There are different aspects to a negotiation
     • 1. Assess the historical, political, legal, and cultural context in which negotiations take place
     • 2. Assess the purpose of the negotiation: Deal-making or dispute resolution?
     • 3. Assess the nature of the conflict: Are ideologies involved?
     • 4. Assess the temporality of the negotiation: One-shot or longterm?
     • 5. Assess external constraints: Is time an issue?
     • 6. Assess external constraints
     • 7. Assess external constraints: Communication channels

3. Analyze the negotiation structure and components

   • be complemented with a careful analysis of the structure of the negotiation
     • 1. Identify the negotiation parties.
     • 2. Define the issues
     • 3. Understand the underlying interests
     • 4. Consider alternatives
     • 5. Create a scoring system and sort out preferences
     • 6. Determine the target/aspiration and reservation/resistance points.
     • 7. Assess your negotiation style
     • 8. Practice perspective taking
     • 9. Assess the relationship with the other party

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