Last night I submitted my final assignment for the first stage of my MBA. This most recent subject has been on negotiation, and I wanted to capture a few of the things I’ve learned about negotiation in the last 10-12 weeks.
First, a definition, from our textbook (Fells R. and Sheer N. 2020, Effective Negotiation: From Research to Results, 4th Edition Cambridge University Press, Cambridge, England).
Negotiation is a process where
that they need to resolve
try to reach agreement
through exploring for options
and exchanging offers
The success of a negotiation is measured, not in the nature of the agreement that’s reached, but in how it ends up being implemented. It’s no good if you have an amazing agreement, but your negotiation counterpart is so angry about it that it falls over in implementation.
Oh, and because negotiation is a process, and negotiation is always between people, the process needs to be managed.