NEGOTIATION

NEGOTIATION

1. TYPES OF NEGOTIATION

   • DISTRIBUTIVE NEGOTIATION - one side's win is the other side's loss (win-lose solution)
   • INTEGRATIVE NEGOTIATION - both sides can create value or mutual gains by offering trade-offs (win-win solution)

2. STAGES OF THE NEGOTIATION PROCESS

   • PREPARE - research both sides of the discussion, any possible trade-off, determine the most-desired and least-desired outcome
   • EXCHANGE INFORMATION - both parties exchange their initial positions. Including what they aim to receive and why they feel the way they do
   • CLARIFY - both sides continue the discussion that they began when exchanging information by justifying and bolstering their claims
   • BARGAIN AND PROBLEM-SOLVE - both sides begin a give-and-take. New proposes, the goal is to emerge with a win-win outcome
   • CONCLUDE AND IMPLEMENT - both sides thank each other for the discussion. This stage often includes a written contract

3. TIPS FOR NEGOTIATING

   • Don't be afraid to ask for what you want
   • Listen 70% of the time and talk just 30% of the time
   • Negotiators are optimists, aim high and expect the best outcome
   • Don't give anything away without getting something in