Bargaining for Advantage – Masters of Negotiation
We’ll look at the negotiation lessons we can learn from ‘Bargaining for Advantage: Negotiation Strategies for Reasonable People’ by G. Richard Shell.
When it comes down to it, negotiating is about creating a bargain that will advantage you – and the other party. Shell offers great basic ideas for preparing for a negotiation and the bargaining process.
Watching this video is worth 1 Management Courses CPD Point*.
(See below for more details)
This video is part of course module number 5.2.4
Program 5: Managerial Skillset
Course 2: Negotiation
Section 4: Masters of Negotiation
Other videos about Masters of Negotiation include:
– Getting to Yes
– Getting Past No
– Never Split the Difference
– Bargaining for Advantage
– Handling Negotiation
Module 5.2.1 covers the Fundamental Model of Negotiation.
Start with the Fundamental Model of Negotiation – https://youtu.be/PKz4pDm1e90
Module 5.2.2 covers Key Concepts in Negotiation
Start with Core Principles of Negotiation – https://youtu.be/FiEneNag8cI
Module 5.2.3 covers Tools for Negotiators
Start with How to Ask Questions – https://youtu.be/uy2fS0MhmAQ
The best negotiators research the facts and psychology. Shell calls this Information-based Bargaining.
1. Information-based bargaining focuses on three primary tactics:
To non-verbal as well as verbal cues
2. Understanding the psychology of the other party is important. But you also need a clear understanding of your own psychology and limits.
3. Reciprocity is crucial to crafting a successful agreement.
4. Leverage arises from perceived strengths, rather than actual strengths.
5. Closing is the hardest phase of a negotiation. Shell focuses on two strategies:
a. The scarcity effect
Loss Aversion – sunk cost fallacy
People are reluctant to admit failure or accept loss once they have invested heavily in a particular course of action
1. Use this as the start for building yourself a checklist of reminders for how to be effective in future negotiations. If necessary, go over other videos to help you build up your checklist. (4 MC CPD Points)
– CPD Tools – https://gum.co/MC-CPD
– Management Courses Onboarding Kit – https://gum.co/MC-ObK ($3)
Bargaining for Advantage (a solid introduction) https://geni.us/anBn
Negotiate Wisely in Business and Technology (A basic introduction) https://geni.us/a2n1T6Y
Everything is Negotiable) (A basic introduction) https://geni.us/Ozwwr
Getting to Yes (the classic text) https://geni.us/U3CjduK
Getting Past No (the follow-up to Getting to Yes) https://geni.us/VQAd7
Negotiation Genius (Modern look at the negotiation mindset) https://geni.us/cBKKn3x
Never Split the Difference (red hot tips from ex-hostage negotiator) https://geni.us/YBSogJ
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