Guided session · Negotiating · About 15 minutes

The Negotiation Prep Sheet

Before a vendor renewal, the preparation usually goes into arguments for a lower price. The research on negotiation points somewhere else: to what you will do if the deal fails, and to who names the first number. This session prepares you for a negotiation where you are the one paying. You work out your best alternative, the most you will pay, where a deal is possible, your first offer and what you can trade, and you finish with a one-page prep sheet to take into the meeting.

The research behind this session

Sources

The best alternative (BATNA) and objective standards. Fisher, R. and Ury, W. (1981). Getting to Yes: Negotiating Agreement Without Giving In. Boston: Houghton Mifflin.
Reservation prices, the zone of agreement and trading across issues. Raiffa, H. (1982). The Art and Science of Negotiation. Cambridge, MA: Belknap Press of Harvard University Press.
Anchoring in experts. Northcraft, G. B. and Neale, M. A. (1987). “Experts, amateurs, and real estate: an anchoring-and-adjustment perspective on property pricing decisions.” Organizational Behavior and Human Decision Processes, 39(1), 84–97.
First offers. Galinsky, A. D. and Mussweiler, T. (2001). “First offers as anchors: the role of perspective-taking and negotiator focus.” Journal of Personality and Social Psychology, 81(4), 657–669.
Targets. Galinsky, A. D., Mussweiler, T. and Medvec, V. H. (2002). “Disconnecting outcomes and evaluations: the role of negotiator focus.” Journal of Personality and Social Psychology, 83(5), 1131–1140.
The fixed-pie assumption. Thompson, L. and Hastie, R. (1990). “Social perception in negotiation.” Organizational Behavior and Human Decision Processes, 47(1), 98–123.

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