Best Practices in Negotiations, Article Review - 2135 Words

Article Review 7.1: Best Practices in Negotiations Article Review HR595 Negotiation Skills Course Instructor: Wendy Chung April 14, 2010 Week 7 Submitted by Bob Figone What is the problem or issue that necessitates such an article be written? This article comes directly out of both textbooks (Chapter 12 in Essentials of Negotiation, page 256 and Article 7.1 in Negotiation – Readings, Exercises and Cases, page 485) we have used for this course. It is a summary of what we have learned about the field of negotiation. It reminds us that negotiation is intrinsic in our lives and confronts us many times each day. This article is a reflection by the author’s using a broad view of best practices for negotiators to†¦show more content†¦3. Identify and Work the BATNA Power in negotiations comes from available alternatives. The most likely alternative selected when an agreement cannot be reached is a party’s best alternative to a negotiated agreement (BATNA). First, negotiators need to be watchful of their own BATNA in order to maximize the outcomes. Improving a party’s BATNA improves the agreement. Second, a negotiator must determine the other party’s BATNA and compare it to the ir own. If a party’s BATNA is better, then the desired outcome potential is better. If there is not much difference between each party’s BATNA then there is less room to negotiate. Three things a Negotiator should do knowing the other party’s BATNA: ( Monitor it carefully to retain your advantage. ( Remind the other party of your advantage ( Carefully suggest that the other party may not have an advantage. 4. Be Willing to Walk Away The goal is not to necessarily reach an agreement but to achieve a valued outcome. Experienced negotiators know this and are always prepared to end any negotiation that produces an outcome worse than their BATNA and walk away point. Negotiator’s who focus on the goals and continue to compare their targets with the BATNA and walk away points reduces the possibility of aShow MoreRelatedBuying a House with Distributive Bargaining Skills1223 Words   |  5 PagesDistributive bargaining is a very important negotiation skill. Used as the core of the core of an negotiation, distributive bargaining is defined as, â€Å"a negotiation method in which two parties strive to divide a fixed pool of resources, often money, each party trying to maximize its share of the distribution† (Michael R. Carrell, 2008). Within the distributive bargaining process, the two parties involved have to negotiate over a set of assets in which one person looses and the other gains. ThisRead More Negotiations and Decision-making Essay examples1100 Words   |  5 Pageson decision-making. Likewise, the same can be stated regarding the search for information pertaining to negotiations and decision-making. 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