The Power of Effective Negotiation
What is your biggest source of power in any negotiation? How to redraw the boundaries of a negotiation in your favor. How focusing on the upside improves your deal. It's better to receive the first offer than to give it.
Honesty is the best negotiating policy. Don't ever let them see you sweat. Professor Neale cheerfully debunks these common beliefs as she shares the results of empirical research on negotiating strategies and the process of "mutual influence" that drives negotiation.
In fact making the first offer can set the bar high, to your advantage. Being honest about your bottom line can backfire. And emotions can play a powerful role in negotiations. Before you begin be clear about your goal. Is it to get as much value out of a deal as possible.
To develop a relationship and create value for both parties. Or simply to win a dangerous goal! In any case you need to determine three things: your bottom line your optimistic target and your alternatives if the deal fails. Try to figure out the same of your negotiating counterpart. The more prepared you are the more flexibility you have in negotiating strategies. In the end don't settle for just any deal. Work to get a good deal, or it's no deal.
Margaret A. Neale is the Director of the Influence and Negotiation Strategies Executive Program at Stanford and the coauthor of three books including Organizational Behavior: A Management Challenge. She received her bachelor's degree from Northeast Louisiana University her master's degrees from the Medical College of Virginia and Virginia Commonwealth University and her PhD in Business Administration from the University of Texas.
Margaret Neale - Professor of Organizations and Dispute Resolution Stanford Graduate School of Business
Margaret Neale is the Adams Distinguished Professor of Management at the Graduate School of Business at Stanford University.
Her research focuses primarily on negotiation and team performance. Her work has extended judgment and decision-making research from cognitive psychology to the field of negotiation. In particular she studies cognitive and social processes that produce departures from effective negotiating behavior. Within the context of teams her work explores aspects of team composition and group process that enhance the ability of teams to share the information necessary for learning and problem solving in both face-to-face and virtual team environments.
She is the faculty director of Negotiation and Influence Strategies, Managing Teams for Innovation and Success, and the Executive Program for Women Leaders at Stanford.
Prior to joining Stanford's faculty in 1995 she was the J.L. and Helen Kellogg Distinguished Professor of Dispute Resolution and Organizations at the J.L. Kellogg Graduate School of Management at Northwestern University.
In 2000-2001 she was the Graduate School of Business Trust Faculty Fellow. She was honored with the Robert T. Davis Award for Lifetime Achievement and has served as the Academic Associate Dean of the Stanford Graduate School of Business.
She is the author of over seventy articles, one research series, and four books, including her most recent book co-authored with Thomas Lys Getting (More of) What You Want.
She currently serves on the editorial boards of the Journal of Applied Psychology Organizational Behavior and Human Decision Processes International Journal of Conflict Management and Human Resource Management Review. In addition to her teaching and research activities Professor Neale has conducted executive seminars and management development programs around the globe for public agencies, city governments, health care and trade associations, universities, small businesses, and Fortune 500 corporations in the area of negotiation skills, managerial decision making, managing teams, and workforce diversity.
She received her Bachelor's degree in Pharmacy from Northeast Louisiana University, her Master's degrees from the Medical College of Virginia and Virginia Commonwealth University, and her PhD in Business Administration from the University of Texas. She began her academic career as a member of the faculty at the Eller School of Management of the University of Arizona.