BUS 326 Lecture Notes - Lecture 8: Negotiation, Best Alternative To A Negotiated Agreement
15 Oct 2018
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Document Summary
Process of potentially opportunistic interaction by which two or more parties, w/ some apparent conflict, seek to do better jointly than they could do otherwise: interdependence. Crucial skill for managers and central part of their job. Sometimes reaching an impasse (no agreement) is right answer. Important relational process by which resources are allocated at work. Negotiations are fixed sum: some are but not all, expanding the pie rather than just distributing the pie. Good negotiators are born: trained and well prepared. Good negotiators need to be risk-takers: if taking risks, they are well-thought out and calculated. Issues factors to resolve in the negotiation. Position stated options desired by negotiator. Basics of negotiation strategy (from getting to yes) Generate multiple possibilities (dev your batna = alternative to that negotiation) Batna best alternative to a negotiated agreement. Reservation value (resistance/walk away/indifference point) - what is the lowest you willing to take.
