Some quick tips I've picked up in class so far that may prove useful in your negotiations this weekend:
1) Always make the first offer, unless it is socially unnacceptable to do so.
2) Never accept a first offer.
3) Never reveal your BATNA. You can say that you have a BATNA, but never reveal specifics to the other party.
4) Don't mistake silence for an answer. Wait to hear a concrete response before making concessions.
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8 comments:
hmmm, not to get technical, but doesn't making the first offer allow your opponent to anchor in direct relation to your offer, thus, putting the negotation in his/her favor??
No. The first offer stated is the anchor. You want to set the anchor in your favor, rather than letting the other party do it.
i thought that each party "drops" their anchor, revealing the negotiating space between the two parties. somewhere in that space the parties will reach an agreement. so does it really matter in the end, if each party walks in with their anchor already decided?
Not to get technical at all, but...I think I might like to name a pet Batna. It's too cutesy for a dog. Maybe a hamster?
Here's a new one: BANTA your butt back to class!
Scotty, will you email me? I can't find your email address. And, you're pretty much right. If the other party makes the offer first, you're supposed to immediately counter with your offer without taking their offer into consideration, which serves to reanchor, making their anchor a little irrelevant.
holy schmoly! i actually remember something from my undergraduate business education? i thought i smoked all that knowledge away a long time ago...
"That sounds like something hitler would say"
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