Negotiation

Bargaining Zone Still happy with the outcome of the negotiation? $300 $3000 Still happy with the outcome of the negotiation? Buyers: Do you feel like the seller was honest? Seller: Do you feel like you left money on the table?

Perspective Taking Did you think about your partners perspective? Or simply think about your own? In this case: Both desperate to make a deal - > would have done better had you thought about your partners’ position

Good Deals and Bad Deals “Overpayment” “Underpayment” What kind of tactics did you use to capture and claim value? NO real overpayment because the deal is rational First offer? Only good if you have an ideo f the real value

Welcome to Negotiation

Course Objectives No formula to negotiations – Expose you to a wide variety of negotiation situations Frameworks and concepts will support your journey To gain confidence in the negotiation process as an effective way to resolve conflict To observe the behaviors and motivations of others Experiment with various negotiation strategies to improve your abilities as an effective negotiator

Materials Getting to Yes: an oldie but a goodie Readings: on www.profemilyblock.com under your schedule You should have received an invoice from northwestern DRRC – must show me receipt by week 3

Course Format Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again. Do. Debrief. Read. Do again. Debrief. Read. Do again.

Course Format: Do Every week at least 1 negotiation Try High Tech: Up to half hour before class, sign up using link on schedule page by adding your email to the google form As you walk into class, you will be sent a link to your role. On the screen will be your group assignment. Negotiate Fill out negotiation results link from website Email recording of negotiation to me (or share with my google drive) Example of recording……. If it doesn’t work….we will try low tech Negotiate anywhere in the building

Negotiations Honor code You are expected to be prepared and on time for all exercises. You are to read only the role information to which you are assigned. It is not appropriate to borrow or discuss cases with people outside of class. You may not show your confidential role instructions to the other parties, though you are free to tell the other side whatever you would like about your confidential information. Do not make up facts or information that materially change the power distribution of the exercise - for example, that your family has just bought the company you are currently negotiating with for a job. You may use any strategy except that of physical violence to reach your desired outcome. You may not share details of the cases, exams, quizzes, and class discussions with students outside of the class.

Course Format: Debrief Do not debrief with your partner after the negotiation – we will debrief together in class Get and give feedback from your negotiation partners Write about your own negotiation style using course concepts

Course Format: Read Readings each class that we don’t negotiate Attached to schedule on website Readings provide the basis for your negotiation strategies

Grading Participation……………………………….. 20% Reading Quizes………………..………….. 20% Partner Feedback Sheets.……………. 15% Personal Negotiation Analysis.……..15% Midterm Graded Negotiation……... 15%

Participation It is everywhere in this class – negotiations, debriefing, reflecting What does it look like: Not just showing up to a negotiation but taking it seriously Critically evaluating your own performance as well as the performance of others Nominating students who add to your learning experience

Exams All negotiations are UNGRADED except for 2 Low pressure Chance to try different strategies 2 Graded negotiations (midterm, final) Both exams have 2 parts Half: Performance on the negotiation Half: Individual negotiation reflection (due the next class) Note: These are not zero sum negotiations with winner-loser scenarios so don’t stress

Achieving your Goals

I can help you achieve your goals… Being available for my students is very important to me. That being said: It won’t impact your grade There is no need for contact for “impression management” I recognize that not everyone has the same goals….and that is OK If you want skills and a B and that is your goal and you achieve it – I see that as a win I am happy to write you a letter of recommendation based on your own goal criteria – and you have lots of opportunities to communicate these

Your Goals Write down your goals for the class My goals for you: Develop a tangible skill that you can use outside of the classroom to improve your personal and professional outcomes Have a little fun Make you “free”

Free??? Free from negative stereotypes Free from your own self perception of your limitations Free from seeing the other as the enemy Free from judgment Free from losing your individualism in lieu of the team’s goals Free from the reactions of others Free from fear of being unfair

Contact Me …..it’s complicated US Phone works in Canada (call and text) but not data Canadian phone does not work in US at all (will go straight to voicemail – texts don’t come through) Options: Email: eblock@ualberta Plus: I can get it anywhere Minus: I get up to 1000 emails a day – and yours may get lost in with the pile of assignments Solution: Don’t bury questions in with assignments; if need a response put something in the title that makes me identify it US Cell: Plus: Always works Minus: I don’t know what your cell phone plan is – it may be expensive to call me Solution: Text my US cell and I can call you back (it should be free incoming), add me on whatsapp which is attached to my US cell Canadian Cell: Plus: Normal life Minus: I am in Kentucky (where my partner lives) or abroad (for teaching) a good amount Other ways: Skype goes to my phone (esblock99) Both my phones are iphones and my imessage goes through my email (esblock@gmail.com) so I get it on both phones Thanks for your understanding. Moving is hard. Living a cross boarder life is even harder. I will surely get good at it….eventually.

Negotiation Checklist What are the elements of the checklist? You Issue Importance BATNA Boundaries Them: Issues Situation Deadlines Norms Taboo topics Relationship between parties Temporal Tactics Authority

Assignment Develop a Negotiation Checklist that you can adapt to each of your negotiations You will be asked to turn them in during your midterm, exam, partner reflections and self reflections

Next Class Lets Negotiate….. Remember the process: Email sign in to “check in” to class and get role assigned Once you do this you cannot miss class – you will be assigned a partner - and failure to show up after you are assigned a role will result in a letter grade loss Once roles are assigned you will be sent a link to your role Your partnerships will be on the screen