In any negotiation of consequence, you want to learn as much as you possibly can. Of special significance is the opportunity to know as much as feasible about the people on the other side of the table. What are their goals, hopes, and preferences? How do they see the situation … [Read more...]
On Being a Negotiation Teacher
I’ve been teaching negotiation at the Wharton School of Business of the University of Pennsylvania for more than 20 years. Time flies when you are doing something rewarding and fun. This week I learned that I have again won the William G. Whitney Award for Distinguished Teaching. … [Read more...]
Strong Alternatives Give You Power
In negotiation, as in all areas of life, having a strong best alternative gives you great power. Alternatively, the lack of a good alternative results in relative weakness. Negotiators speak frequently about BATNA – the Best Alternative to a Negotiated Agreement. In plain … [Read more...]
Patience is Rewarded
It is true that being patient is a very good trait in a negotiator. Waiting for a first-rate opportunity, not reacting too quickly, and tolerating delay in obtaining a goal are all qualities that pay off nicely for the best negotiators. If you can avoid being hurried, you will … [Read more...]
Who Is This “Wall Street” With Whom You Are Negotiating?
In Negotiating Your Investments which will be released in April, I urge that investing is an act of negotiation. If that is true, all the rules of good negotiating apply. Anyone who has studied negotiation knows that having a strong sense of who sits “on the other side of the … [Read more...]