How to Get to Yes with Win-Win Negotiations...How to Get to Yes with Win-Win Negotiations CHARLOTTE...

How to Get to Yes with

Win-Win NegotiationsCHARLOTTE WESTERHAUS-RENFROW

CLINICAL ASSOCIATE PROFESSOR KELLEY SCHOOL OF BUSINESS

INDIANA UNIVERSITY-INDIANAPOLIS

Bargaining vs. Negotiation

Most people think bargaining and negotiation mean the same thing…

https://www.youtube.com/watch?v=u75XQdTxZRc

Monty Python: Life of Brian

(The Haggle Scene)

@2019 Charlotte Westerhaus-Renfrow & M. Kim Saxton@All rights reserved, Charlotte Westerhaus-Renfrow

https://www.youtube.com/watch?v=u75XQdTxZRc

Bargaining vs. Negotiation

Bargaining: Describes the competitive, win-lose situation.

Negotiation: Refers to win-win situations such as those that occur when parties try to find a mutually acceptable solution to a complex conflict.

@2019 Charlotte Westerhaus-Renfrow & M. Kim Saxton


How Successful Are

In Negotiations?


Success: What’s Gender Got

to Do with It?

Gender differences may

not always predict

tendency to negotiate.

But men negotiate larger outcomes.


What are the Biggest Mistakes

Women Make?

✓ More likely to take “no” for an answer.

✓ Set lower goals and are satisfied with less than men.

✓ Tend not to recognize opportunities to negotiate.

✓ Build relationships, value a relationship, and tend to protect them.

✓ Shy away from bold behavior.

✓ Fail to do their homework -- do not know their own worth.

✓ Focus less on what they are giving the employer than on what the

employer is giving them.

✓ Start off in the hole.

✓ Take negotiations personally. @All rights reserved, Charlotte Westerhaus-Renfrow

What

Can You

Do?


HOW TO NEGOTIATE BETTER:FOUR STEPS

Prepare

Select a Strategy

Listen and Learn

Ask


STEP ONE:

PREPARE,

PREPARE …

AND PREPARE

SOME MORE!

Identify the Interests of Both Parties

Yours

• What do you really

want?

• Why do you want it?

Theirs

• What do they really

want?

• Why do they want it?


For Example ….

You want to buy a new car…

The same model is for sale at several car dealers…

So, you have a strong BATNA!!!

BATNA:

Best Alternative to a Negotiated Agreement

@2019 Charlotte Westerhaus-Renfrow

Position

Interests

Arguing over positions• Inefficient• Negative effect on

relationship

Why people want it• Intangibles people want,

need, hope, or fears

What people want@All rights reserved, Charlotte Westerhaus-Renfrow

Brainstorm

Options

for Mutual

Gain


Identify the Best Alternative to a

Negotiated Agreement

(BATNA)

This is what you’ll need

if the negotiations fail to

produce your ideal

outcome – or the other

party’s.

You need to identify this

beforehand so you

know what you can live

with.

What is my

BATNA?


HOW ABOUT A CUP OF COFFEE?


Caffeine:

The Wonder Potion??

European Journal of Social Psychology

• You are more likely to stick to your guns in a

negotiations when you drink coffee.

• Preparing to negotiate after drinking something

with caffeine made people more willing to hold

firm to the goals they are trying to achieve.


STEP TWO:

Select a Strategy


What is your preferred

negotiation style?


Strategy Counts

Independent of the power you have at

the table, the choice of your negotiation

strategy is a CRITICAL FACTOR in

determining the outcome of the

negotiation.


Five Negotiation Strategies

Competition

• Winning the deal without regards for a relationship

Collaboration

• Interested only in the relationship outcome

Accommodation

• Interested in both the deal substance and relationship

Avoidance

• Not interested in neither substance or relationship

Compromise

• Split the difference


STEP THREE:

Listen!


Listen Carefully to What Your

Counterpart Says

By really listening, you can identify

information to use a leverage, or identify

options

Ask questions –particularly, “Why?”


But if you want to make everyone happy…


STEP FOUR:

Ask!


Ground Yourself

The first negotiation may be with yourself.

✓ Why is it bothering you? What gets you “hooked”?

✓ What are your assumptions?

✓ What emotions are attached to the situation?

✓ What is your purpose of the negotiation? How will you start it?

✓ What will happen if I win the negotiation? What will happen if

you don’t?


BE PREPARED FOR “NO”

STRIKE A POWER POSE AND

BELIEVE IN YOURSELF

USE PRECISE NUMBERS

RANK YOUR PRIORITIES

AND WHEN

YOU

RECEIVE

AN OFFER


How to Negotiate with a

Difficult Opponent


Techniques and Tactics

✓ Probing questions

✓ Forbearance

✓ Silence

✓ “Go to the Balcony”

✓ Take a break!

✓ Salami

✓ Peppermint

✓ Apparent withdrawal@All rights reserved, Charlotte Westerhaus-Renfrow

What Every Woman Should Know?


Questions?


Charlotte Westerhaus-Renfrow

Clinical Associate Professor Kelley

School of Business

Indiana University-Indianapolis

[email protected]


How to Get to Yes with Win-Win Negotiations...How to Get to Yes with Win-Win Negotiations CHARLOTTE...

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