Lesson notes, exercises, downloads, and recommended reading are below the video. On mobile, the video will rescale when you play it.


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
https://youtu.be/GNW-7yvDXBc
– Getting Past No
https://youtu.be/bwb4-5KRjD0
– Never Split the Difference
https://youtu.be/qGBSPIACG9Y
– Bargaining for Advantage
https://youtu.be/1JRlfxPUwP0
– Handling Negotiation
https://youtu.be/5TXLf5C0Zis

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

LESSON NOTES
============
The best negotiators research the facts and psychology. Shell calls this Information-based Bargaining.

1. Information-based bargaining focuses on three primary tactics:
a. Preparation
b. Listening
c. Attentiveness
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
FOMO
b. Overcommitment
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

RECOMMENDED EXERCISE
======================
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)

DOWNLOADS
===========
Free Resources
– CPD Tools – https://gum.co/MC-CPD
Paid resources
– Management Courses Onboarding Kit – https://gum.co/MC-ObK ($3)

RECOMMENDED READING
=====================
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

Management Courses Continuing Professional Development (CPD) Points
===========================================================
You can record your Management Courses CPD points on our free, downloadable CPD record log.
Download it here: https://gum.co/MC-CPD

Each video has two levels of MC CPD points. For this video:
– If you simply watched the video, record 1 MC CPD points
– If you also carried out all of the recommended exercises, score a total of 5 MC CPD points
___

Note:
Links to our book recommendations are affiliated through Amazon

#Negotiation #ManagementCourses #BargainingForAdvantage

source

Handling Resistance – Masters of Negotiation series
Never Split the Difference – Masters of Negotiation series
Getting Past No – Masters of Negotiation
Getting to Yes – Masters of Negotiation
How to Handle a Negotiation Breakdown – Negotiation Tools
How to Handle Deadlock – Negotiation Tools
MOSCOW Analysis – Negotiation Tools
Force Field Analysis and PMI Analysis – Negotiation Tools
Influencing and Persuading – Negotiation Tools
Empathic Negotiation – Negotiation Tools
Listening Skills – Negotiation Tools
How to Ask Questions – Negotiation Tools
Negotiation Acronyms: How Many do You Know?
Leverage: Key Concepts in Negotiation
Negotiation Goes Bad: How to Handle 6 Types of Bad Behavior
Power at the Negotiating Table: Key Concepts in Negotiation
Non-verbal Aspects of Negotiation: Negotiating Body Language
Four Primary Negotiating Behaviors – Key Concepts in Negotiation
Scope for Agreement – Key Concepts in Negotiation
Five Basic Negotiating Strategies – Key Concepts in Negotiation
Core Principles of Negotiation
Negotiation Follow-up – after the Negotiating Process
Negotiating Team Roles in the Negotiation Process
Bargaining Stage of the Negotiation Process
Opening Stage of the Negotiation Process
Preparation Stage of the Negotiation Process
Fundamental Model of Negotiation – the Basic Negotiation Process

Mike Clayton

About Mike Clayton 

Dr Mike Clayton is a (former) Project Manager and now a management educator. Having trained thousands of people at live workshops, seminars, and conferences, he now delivers training mainly via video. He has 14 books with international publishers and runs two successful YouTube channels. He is also the founder of OnlinePMCourses.com

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