Monday, October 4, 2010

Topic 5: Negotiation and Conflic

I had a score of around 3500 in the negotiation role play, which is on the low side of negotiation skills. The approach I used in this role was to start at the highest amount (score wise) and then gradually negotiate down. I was not firm in the two highest scoring items, including salary and options, where I lost most of the points. I think it would be fair to say the scores paint my real life approach quite realistically. I don't consider myself to be strong negotiator.

One factor (and a mistake) that caused low scores was that I had this idea in back of my mind that I had to negotiate no matter what, and not agreeing was not an option. I failed to realize that my negotiator was also in under similar constraints as he had to finally agree to a negotiated settlement. This was the main cause of my negotiation weakness as my opponent realized my sense of desperation.

One lesson from this role play for me is to never show any signs of weakness to your negotiation partner, even if you one. As soon as your negotiator will sense any signs of desperation, there will be natural tendency to take advantage of it. Second lesson is that it would be to your advantage if you prepare beforehand how much and where you are willing to compromise. The idea is to know your lower bounds so that you do not have to settle anything below it. I think good negotiation is an art that requires practice and experience.

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