ORGS 4560 Lecture Notes - Lecture 3: Tums, Best Alternative To A Negotiated Agreement, Pennsylvania Army National Guard
2 Jan 2016
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Executives endlessly negotiate with customers and suppliers, shareholders and creditors, people within and external stakeholders as well. Negotiations matter when parties with different interests and perceptions depend on each other. In a negotiation you must accept the deal or take its best no-deal-option; course of action it would take if deal were not possible. You try to advance full set of your interests; ensure it is better than opponents best no-deal option. Need to understand and shape your counterpart"s perceived decision: let the other side choose in its own interests what you want. Need to understand own interest and own no-deal options. Need to also address your counterpart"s problems as a means to solving your own. Put yourself in the other persons shoes; understand what the other side wants from the deal. Can"t go with the mind set let them handle their issues, we will look after our own problems .
