Core Principles of Negotiation
Like every discipline, negotiation has a number of core principles that make it work. In this video, I share my eight core principles of negotiation, for negotiating with integrity.
Watching this video is worth 1 Management Courses CPD Point*.
(See below for more details)
This video is part of course module number 5.2.2
Program 5: Managerial Skillset
Course 2: Negotiation
Section 2: Key Concepts in Negotiation
Other videos about Key Concepts in Negotiation include:
. Core Principles of Negotiation https://youtu.be/FiEneNag8cI
. Five Basic Negotiating Strategies https://youtu.be/DlV6phTGjoU
. Scope for Agreement https://youtu.be/cb1Bf09p2eg
. Four Primary Negotiating Behaviors https://youtu.be/eLmF8Kr2ppA
Module 5.2.1 covers the Fundamental Model of Negotiation. Start with the introductory video:
. Fundamental Model of Negotiation – https://youtu.be/PKz4pDm1e90
LESSON NOTES
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Here are the eight core principles of negotiation:
1. Know the outcome you want
2. …and the limit at which you will walk away
Remember, it is not always possible (or desirable) to reach a negotiated agreement.
3. You get what you pay for.
In a fair negotiation, if you want something, you must be prepared to offer something in return.
4. Negotiation is a process.
If you are not yet where you want to be, there’ more work to do.
5. People take positions at the start of a negotiation.
But what will determine success is whether there is an overlap in interests.
6. Don’t let emotions control your choices.
Use time-outs and supporting team members to help you focus on facts, reasoning, and an objective evaluation of them.
7. People may behave badly
…but focus on the outcome you want to achieve and not the people.
8. The more options and ideas you can generate – and the more flexible you can be about the route to an agreement – the better the chances of a negotiated agreement.
RECOMMENDED EXERCISE
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1. Consider these principles. Rephrase them in your own words and record them in your Negotiation notebook. (1 MC CPD Point)
2. Are there any other principles you think I have missed? Add them to your notebook. (1 MC CPD Point)
DOWNLOADS
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Free Resources
– CPD Tools – https://gum.co/MC-CPD
Paid resources
– Management Courses Onboarding Kit – https://gum.co/MC-ObK ($3)
RECOMMENDED READING
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Negotiate Wisely in Business and Technlogy (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
Bargaining for Advantage (another classic) https://geni.us/anBn
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
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You can record your Management Courses CPD points on our free, downloadable CPD record log.
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Each video has two levels of MC CPD points. For this video:
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– If you also carried out all of the recommended exercises, score a total of 3 MC CPD points
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