Consider this excerpt from the Harvard Business Review’s Daily Blog: https://hbr.org/2015/03/setting-the-record-straight-on-negotiating-your-salary and answer the questions that follow in as much detail as possible 1) Who are the parties in this negotiation? Who is the “third side?” (1 point) I believe the parties in this negotiation are the employee and employer who are negotiating. While the third side is the information available online or people who are currently working or have worked in the employee’s field of interest. These third side could help complementing information to employee in order to become well prepared and well equipped with necessary knowledge. 2) Do you agree with the strategies mentioned? Why or why not? (3 …show more content…
Not only it will reduce your likeability, but the employer may no longer have interest with you. Not to bargain too hard and stick to a certain number is a good idea as it prevents tension rising up, and allows collaboration between two parties. Just like what the textbook says, it is important to have patience and endurance, as well as stamina and willingness to proceed until an agreement between two parties is reached. However, it does not mean that employee should force a certain figure of salary and become a stubborn negotiator, as negotiating is all about resolving any conflicts and arrive at an agreement. I agree that instead of acting a hardball, it is better to explain your perspectives in a polite and respectful manner. It will show that the employee has a good professional manner. The experts from the reading also mentioned the importance of research and planning beforehand, which I could not agree on more. Their statement is definitely in sync with the textbook too, of how planning for a negotiation session prepares us in facing unexpected stress during negotiation and how to overcome them. It is crucially important to plan the negotiation objectives and know what your goals to achieve are. It is also recommended to pay attention to details, such as finding a good time and place that sustains a good professional negotiation environment. 3) Arlan Arnsten (former SVP of Stone
At the same time, I also realized that the negotiation partners are not always having the conflict interests during the negotiation. In this case, for some of the issues, we actually have the same goals. So baring this in mind, in the future negotiation case, I would first seek the common goals for both of us first to create a win-win situation.
Negotiation is a fundamental form of dispute resolution involving two or more parties (Michelle, M.2003). Negotiations can also take place in order to avoid any future disputes. It can be either an interpersonal or inter-group process. Negotiations can occur at international or corporate level and also at a personal level. Negotiations often involve give and take acknowledging that there is interdependence between the disputants to some extent to achieve the goal. This means that negotiations only arise when the goals cannot be achieved independently (Lewicki and Saunders et al., 1997). Interdependence means the both parties can influence the outcome for the other party and vice versa. The negotiations can be win-lose or win-win in nature.
The negotiation between Joe and Leigh had elements of distributive bargaining, but their relationship and the outcome of the negotiation were important to both parties, thus, this negotiation also had collaborative bargaining characteristics (Lewicki, Barry, & Saunders, 2010). When using this strategy, the objective is to maximize your outcome on the substantive issues while enhancing the quality of the relationship with the other party (Lewicki, Barry, & Saunders, 2011). In a job offer negotiation between two familiar parties, it is important to find a mutually satisfying solution to also enhance business performance.
From the word go, being a good negotiator is critical, if you want to further your career. An employer may ask you the question about compensation to find out if you are ready to work at the stipulated or below the going pay scale. The other reason may be targeted at boxing you to negotiate for your salary. Regardless of how the question is framed, it is important to recognize that what you say during the negotiation can greatly influence your pay and reveal something about your negotiation skills. Here are 15 tips that will help get the most out of your salary negotiation.
Negotiations are something that everyone experiences and does at some level. Even if informal, people negotiate and barter using what they have to offer to get what they want all of the time. However, there are times in life where the negotiations are much more serious and the stakes a lot higher. Whether official or unofficial, there are negotiation tactics and conditions that should be watched out for because they are a sign of potential problems.
Consequently, negotiation is a process that can be approached in many ways. No matter what strategy we choose, success lies in how well we prepared. The key to negotiating a beneficial outcome is the negotiators’ ability to consider all the elements of the situation carefully and to identify and think through the options. At the same time, negotiators must be able to keep events in perspective and be as fair and honest as circumstance allows. Because a common ground or interest has brought the parties to the negotiating table, a negotiator can benefit by trying to capitalize on this common
Simply put resting at a conclusion after a negotiation may not necessarily be the ideal outcome unless cooperative is achieved by both parties. Bargaining in general could involve parents, friends, teachers, spouses, employers, and so on (Anderson, 2013). Likewise companies also negotiation contracts with one another or individuals involved within the companies.
Pre-negotiation preparation is essential for the optimal outcome of a negotiation, as it allows one to design a strategy and plan that can increase the probability of a beneficial agreement. Good preparation means thorough understanding of one’s own and the other party’s relevant information, including interests, constraints, and tradable resources. An effective negotiator should know one’s own best
In any negotiation, preparation is crucial; and having a set, outlined process to follow when preparing helps mitigate a potential oversight of any significant issues within the negotiation. Following a set process also helps one stay on task and in-line with what the important issues and factors are in a negotiation. In Bargaining for Advantage, G. Richard Shell provides a well-structured framework to follow in planning for a negotiation. For this reason, I used Shell’s negotiation preparation framework to plan for the negotiation between Rapid Printing Company (Rapid) and Scott Computers, Inc (Scott).
The Negotiation Checklist is a list that helps to prepare you for negotiation. The list consists of four parts: you (the negotiator), the other party (them), the situation or environment, and the relationship between the parties. According to Tripp, “The well prepared negotiator knows the playing field and the players, is seldom surprised, and can promptly capitalize on opportunities.”
In order to make improvements in one’s negotiating skills, it is necessary to determine one’s current communication skills and negotiating style. The use of tools, such as The Personal Bargaining Inventory and Communication Competence Scale questionnaires can assist one in determining these skills. Developing an improvement plan, taking into consideration the five negotiating strategies, ten best practices of negotiating skills, and current communication skills and negotiating style will provide one with a tool to assist in improving one’s negotiating skills.
Negotiation is a complex process. Fells (2009) defines negotiation as “a process where two [or more] parties with differences which they need to resolve are trying to reach an agreement through exploring for options and exchanging offers” (p.3). For most employers, salary negotiation is standard and expected. For the prospective employee, negotiating a salary and benefits package requires knowledge of negotiation tactics and an understanding of his or her desired outcome. Furthermore, effective negotiation requires the negotiating parties to adapt his or her tactics and approach to the environment (Korobkin, 2014). Negotiating salaries is unique because the stakes are
At this stage negotiators stop focusing on their opponent’s needs and priorities and state their own needs and priorities. It is about creating value for your side and asking for the value that you want in exchange. It is the most highly competitive stage of negotiation. Arguments often take place about the value of items on either side of the equation and whether sufficient value is being offered from the opposing side in exchange. It is important that these arguments are handled even handedly even when negative tactics such as threats are used to move one or the other side to action (Craver, 2004).
Q 1) What research will you need to do to prepare for this negotiation ? Discuss how this research is important to the outcome of your negotiation ?
1) Was this a Distributive or Integrative negotiation?- was it the optimum approach and why or why not.