Barclay, Laurie. Notes from the Video.
Stanford video guide to negotiating : the sluggers come home.
Wilfrid Laurier University, 2010.
This copy is made solely for the use by students in the FALL 2018 offering of BU288 at Wilfrid Laurier University for research, private
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The Sluggers Come Home...
Notes from Video
Part 1 - Preparation
Broad Questions
► What are the main categories of negotiation?
► What negotiation tactics did Ted/Billy (stadium owners) and Barbara (team owner) use?
Where they effective? Why or Why Not?
► What can you do to make your own negotiation skills/tactics more successful?
Specific Questions
Two broad categories of negotiations:
a. Distributive
b. Integrative
Two common irrational tendencies in negotiation:
Unrealistic expectations
Escalation of commitment
Two key ways to help resist escalation of commitment:
c. BATNA
d. Reservation price
Overcompetitiveness
- Mythical fixed-pie
Negotiating tactics:
Quick deal
Let other party make first offer
Anchors
Part 2 - Bargaining
Giving information and secrecy
Exchange information
Flinch
Anchors
Barbara Ted
Framing
Risk vs. opportunity
Purchase price vs. net profit potential
Risk
Integrative vs. Distributive negotiation
Signals in distributive negotiation
-Bids
-Speed
Suggestions if reach an impasse
1. Focus on interests vs. positions
2. Make small concessions
3. Take a break
4. Bring in a third party
Emotions
Information
Negotiating "in a closet"
Part 3 - Settlement
Rules of Thumb:
-Negotiate to the end
-Read agreement carefully
-Agree on the meaning of every provision in agreement
Nibble
Post-settlement Settlement
Review of Video - Key Terms
Overconfidence
Underconfidence
Escalation of Commitment
Mythical Fixed-pie
Anchors
Framing
Risk assessment
Emotions
Positive mood
Disliking other party
Liking other party
How to negotiate a better deal:
1. Acknowledge emotions but stick to business
2. Take time
3. Ask questions
4. Research and trade information
5. Evaluate proposals thoroughly
6. Stay open to creative solutions by focusing on interests rather than just winning
7. Recognize that sometimes the best deal is no deal at all- not all negotiations end in
agreement