Thoughts and Insights by Michael Gregory

Negotiations

A light bulb glowing with a black background
November 28th, 2022

Want to know the top ten strategies for creating value at the negotiation table? Part 2 of 2

As a leader you are involved in all kinds of negotiations daily. These can run very smoothly, or they can be difficult disputes with significant conflicts. The question is what can you do to create value at the negotiation table regardless of the situation? Here are ten tips for creating value that you may find valuable in your upcoming negotiations with employees, peers, your boss, customers, clients, vendors, shareholders, or other stakeholders.  There lessons can be applied to any negotiation. 

A lit light bulb with a black background
November 21st, 2022

Want to know the top ten strategies for creating value at the negotiation table? Part 1 of 2

As a leader you are involved in all kinds of negotiations daily. These can run very smoothly, or they can be difficult disputes with significant conflicts. The question is what can you do create value at the negotiation table regardless of the situation? Here are ten tips for creating value that you may find valuable in your upcoming negotiations with employees, peers, your boss, customers, clients, vendors, shareholders, or other stakeholders. There lessons can be applied to any negotiation. This is part 1 of a 2 part series. Part 1 presents the first five strategies. Part 2 presents the second five strategies next week.

A hand with a bouquet of three flowers
November 14th, 2022

Should you make the first offer in a multi issue negotiation? Yes, but…

When you are involved in a multi-issue negotiation you may have asked yourself whether you should make the first offer and if so on which issue? Should you offer something significant on a major issue? Should you offer a token offer on a minor issue? There are different schools of thought on this. Recent research from the Harvard Program on Negotiation at Harvard Law School offers some good insights for you to take advantage of this multi-issue negotiation. Additional insights are provided based on real world negotiations between a major taxpayer and the IRS.

People working together on a task
September 12th, 2022

How do you address the three most common conflicts in business negotiations?

In business negotiations there are three common conflicts that you want to make sure you are aware of and address appropriately according to the Harvard Program on Negotiation. These three most common conflict areas are introduced and supplemented with additional information to help you with your own business negotiations going forward. The three areas are to avoid stereotyping the other party, take on the most difficult issues first, and check your own assumptions and determine your role. When you know the characteristics of each you will be able to negotiate from a much better position. Your relationship with the other party is critical. By learning everything you can about the other party up front and taking time to develop a relationship this can go a long way to improve the negotiation process.

Candle burning in foreground with lights in the background
August 15th, 2022

Does sympathy help during conflicts and negotiations?

Empathy puts yourself in someone else’s shoes emotionally. Sympathy by comparison is when you have feelings of pity or sorrow for someone else’s misfortune. In a dispute, conflict, or negotiation does sympathy work for or against you? You may be surprised. In this article by the Harvard Program on Negotiation they looked at five studies. What they found was that although you may have thought that sharing vulnerabilities may have caused the other side to pounce on the weakness, just the opposite was the case. Those that shared information about dealing with a difficult situation created a more mutually beneficial agreement. This commentary looks at this question a bit deeper.

five male and female professional dress in silhouette
August 1st, 2022

Business valuers, the IRS, and conflict resolution – Part 1 Setting the stage

This is the first in a six part series looking at this topic. Today the focus is on expert witnesses in federal court sessions having various rules to follow regarding their expertise and reports. Given these rules how can an expert demonstrate leadership, help with dispute resolution, or conflict resolution working with the client or client’s representative to resolve the case with the other party and the other expert? Business valuers are taught to be advocates for their position and not for their client. They are to be independent. Only a small number of cases actually make it to court. The question is how does an expert witness such as a business valuer serve their client best with an out of court settlement? This last question will be addressed in a future monthly blogs.

Four people in a negotiation
July 25th, 2022

Does lying in collaborative business deals really pay off?

As a promoter of collaboration, a mediator, a conflict resolution specialist, and a person that teaches ethics and negotiations, I did not initially appreciate the title  of The Dark Side of Collaboration offered by Scientific America. However, the subtitle of  “People working together often scheme to put profits ahead of telling the truth. New research points out ways to stop this behavior” gave me hope. I found this article extremely helpful and enlightening. This commentary that follows shares some of the highlights of that article and offers some additional observations.

People sitting around a table with one person standing about to take away a signed document
July 18th, 2022

Do you know how to make concessions in a negotiation?

Part of daily work and home life is full of negotiations. When not addressed effectively these can result in conflict, disputes, frustration, and in some cases anger. So, the question becomes how can you truly negotiate and make concessions in a negotiation while de-escalating the situation and working with another party? Four strategies are presented to help you making effective concessions in a negotiation at work or at home.

Three figures arguing with various colorful on each image
May 15th, 2022

What does it mean to disagree well?

To encourage collaboration, healthy competition, and overcome conflicts and disputes one technique you can apply is to disagree well. You like many in our society today appreciate monologues that are provided to you by those with whom you agree to reaffirm positions, how smart you are, and how angry you should be with those that do not share that same perspective. The classic example in our society today has to do with reds and blues in our current political environment. Braver Angels offers an opportunity to overcome these differences with dialogue. This is one example of how to disagree well. The commentary that follows addresses the issue of what does it mean to disagree well.

Hand holding a deck of cards
May 8th, 2022

The games people play in negotiations and mediations and how to address them

To avoid conflicts and to help resolve disputes in a negotiation or a mediation it is important to know your Best Alternative to a Negotiated Agreement (BATNA) and to consider the other party’s BATNA in order to work to resolve the situation. Before entering into the situation knowing that if your BATNA is not met you will simply walk away gives you room to exercise your own power. Knowing that you have tried your best to work with the other side, but what has been offered will not be acceptable so you need to move on This article explores how knowing your BATNA and what to consider can help you in a negotiation. It is important to understand why negotiations fail.

Pages

Subscribe to Blog