The art of negotiation
Being able to successfully negotiate is something crucial in the business world. That is why during our first negotiation class, we checked our negotiation skills through a practical exercise called the 2$ bargaining simulator. The rules are simple: by a group of 2, we found 2$ on the ground. Then with our partner, we have to negotiate to get the most of the 2$, considering different guidelines which were given to us (and of course we must not reveal how much we really need to our partner). We did the game 2 times.
The first time, I only needed 1,60$ and my partner needed 50$, it means we were in a negative bargaining zone. We immediately told each other that we needed the 2$ by claiming false reasons: we were lying. It was about not giving up. But quickly, we realized that if we continue to negotiate in this way, there will be no deal possible. The most difficult was the lack of information. Thus my strategy was trying to know how much my partner really needed by asking her a lot of opened questions. I was trying, by all means, to know the amount of money needed my partner, the reasons why she needed it, her interests. That way, I was able to react to what she was telling me and I was able to start negotiating with real arguments in order to convince her that I needed more than her. By knowing her amount of money needed, I was able to take a decision. Finally, we reached a win-win situation because we were able to conclude a deal including a refund in order to be both satisfied. Thanks to this round, I have learned that it’s difficult to negotiate without having enough information about the person you are dealing with, without knowing the interests of the other person. Therefore in order to make a good negotiation, we have to try to know our partner and his intentions.
According to my instructions the second time we played the game, I only needed 50$, and I knew my partner had some troubles. Nevertheless, I was supposed to try getting the most I could get from the 2$. This time, I knew better what to do: my strategy was analyzing the arguments put forward by my partner. When she told me that I was a liar and that she couldn’t trust me, I quickly figured out what were her guidelines. Moreover, I made a mistake, is that to say I let my emotions disturb my negotiation because I knew she had some troubles the week after, and because we were in a positive bargaining zone, I gave her what she wanted and I took what I needed and no more. That’s why even if I had what I needed, we were in a win-lose situation because I didn’t manage to get more and I felt like I lost the negotiation, because knowing that I was seen as a liar and taking into account the situation of my partner, I was so happy she agrees to give me what I needed that I didn’t even negotiate for more.
Thanks to this round, I have learned that being prepared before any negotiation is the key to negotiate as well as possible. In this way, I might have been able to prepare a backup plan in order to avoid this kind of situation and I would know that in negotiations, we need to leave our emotions aside and focus on what we want so that it makes it easier for us to negotiate.
Finally, I can conclude by saying during this class, I’ve learned how much it’s important to be prepared to negotiate well, but also how much the information we have about our negotiation partner can change a deal. But above all, I have learned that a successful negotiation doesn’t mean winning what we initially wanted, but depends on how you feel about the deal reached at the end of the negotiation.
Being able to successfully negotiate is something crucial in the business world. That is why during our first negotiation class, we checked our negotiation skills through a practical exercise called the 2$ bargaining simulator. The rules are simple: by a group of 2, we found 2$ on the ground. Then with our partner, we have to negotiate to get the most of the 2$, considering different guidelines which were given to us (and of course we must not reveal how much we really need to our partner). We did the game 2 times.
The first time, I only needed 1,60$ and my partner needed 50$, it means we were in a negative bargaining zone. We immediately told each other that we needed the 2$ by claiming false reasons: we were lying. It was about not giving up. But quickly, we realized that if we continue to negotiate in this way, there will be no deal possible. The most difficult was the lack of information. Thus my strategy was trying to know how much my partner really needed by asking her a lot of opened questions. I was trying, by all means, to know the amount of money needed my partner, the reasons why she needed it, her interests. That way, I was able to react to what she was telling me and I was able to start negotiating with real arguments in order to convince her that I needed more than her. By knowing her amount of money needed, I was able to take a decision. Finally, we reached a win-win situation because we were able to conclude a deal including a refund in order to be both satisfied. Thanks to this round, I have learned that it’s difficult to negotiate without having enough information about the person you are dealing with, without knowing the interests of the other person. Therefore in order to make a good negotiation, we have to try to know our partner and his intentions.
According to my instructions the second time we played the game, I only needed 50$, and I knew my partner had some troubles. Nevertheless, I was supposed to try getting the most I could get from the 2$. This time, I knew better what to do: my strategy was analyzing the arguments put forward by my partner. When she told me that I was a liar and that she couldn’t trust me, I quickly figured out what were her guidelines. Moreover, I made a mistake, is that to say I let my emotions disturb my negotiation because I knew she had some troubles the week after, and because we were in a positive bargaining zone, I gave her what she wanted and I took what I needed and no more. That’s why even if I had what I needed, we were in a win-lose situation because I didn’t manage to get more and I felt like I lost the negotiation, because knowing that I was seen as a liar and taking into account the situation of my partner, I was so happy she agrees to give me what I needed that I didn’t even negotiate for more.
Thanks to this round, I have learned that being prepared before any negotiation is the key to negotiate as well as possible. In this way, I might have been able to prepare a backup plan in order to avoid this kind of situation and I would know that in negotiations, we need to leave our emotions aside and focus on what we want so that it makes it easier for us to negotiate.
Finally, I can conclude by saying during this class, I’ve learned how much it’s important to be prepared to negotiate well, but also how much the information we have about our negotiation partner can change a deal. But above all, I have learned that a successful negotiation doesn’t mean winning what we initially wanted, but depends on how you feel about the deal reached at the end of the negotiation.
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