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Do You Know When They're Lying?
Is lying just a part of negotiation? Recent studies about lying revealed that complete strangers lie to one another at least three times within the first couple of minutes of meeting one another. Additional research declares that you will be lied to today anywhere between ten and two hundred times! Typical lies told by both men and women include: "I'm on my way." "I'm stuck in traffic." "Sorry I missed your call." "I'm fine thanks" The most common workplace lies: "I'm sick. I won't
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RFI RFQ RFP Meaning
What is the meaning of RFQ, RFI, RFP, and RFT? Contract negotiation training graduates often ask us to explain four key terms that comprise the 'RFx' processes (i.e. RFI, RFQ, RFT, and RFP). These processes have grown in popularity in procurement and purchasing. This is especially so in large organizations with professional buyers, purchasing managers, procurement managers, and sourcing managers. The best negotiation training classes teach how to select and use each RFx
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Job Offer Negotiation Advice
One of the most exciting experiences we can face in life is the prospect of starting a new job. We can literally feel the buzz as anxiety and self confidence ebb and flow through the interview process. Afterwards, we will occasionally catch ourselves staring into space, tapping our fingers, sneaking glances at the phone and eagerly checking our e-mail to see if we’ve had a response. Then, that magical moment comes – we get the job and they want to talk about the job offer. What
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Collective Bargaining Union Negotiation
Collective bargaining negotiation between labor unions and corporate employers is a specialized area in the field of general negotiations. However, the underlying legal and relationship aspects make these areas distinct. General business negotiation and lawsuit negotiations are not regulated by statutory provisions. In contrast, external laws mandate and govern a collective bargaining negotiation. Who Governs the Different Bargaining Situations? Many different
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Giving Feedback After a Negotiation
Smart people ask us: “How do I give feedback to my colleagues after a negotiation?” Giving feedback to colleagues can be a delicate topic. As such, feedback is an area we invest plenty of time into during our negotiation skills training seminars. With this in mind, we thought you would like to know Steve Jones' top seven points on how to offer feedback. 1. Give the feedback immediately After the meeting has finished, give your feedback straight away. It's far easier for people
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Value Creation in Negotiations
Our efforts to create value in any negotiation will be highly limited if we don't form a collaborative negotiation approach with the other side. We don’t want to find ourselves making a shaky agreement with an angry and resentful partner. Instead, we want to create a relationship that is solid and durable, and benefits everyone. The ideal scenario is to leave the table shaking hands, smiling, and feeling pleased that we worked together to make the best possible deal for both
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Detecting Lies in Negotiations
Negotiators often don’t say everything they're thinking. Sometimes they hold back or distort information to avoid being exploited by the other party. Disclosing your “walk away” or “must have” conditions can frequently be a risky strategy – particularly with aggressive competing negotiators on the other side. How many times have you been fooled by the other party claiming to have decision making authority when in reality that wasn’t the case? Or maybe they
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Negotiation Debt Management Advice for Businesses
Being in debt can feel like trudging through a mud drenched field after a heavy rain. Thinking about your debt can haunt you, whirling around in your brain during the early morning hours, while you restlessly toss and turn. You've done everything right but many outside factors are simply out of your control, these can include: An important client cancels your biggest contract Creditors demand faster repayments Your bank won't roll or renew your loan Your staff threaten to strike
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Business Metaphor Examples
"A good metaphor is something even the police should keep an eye on." Georg Christoph Lichtenberg Words can have a powerful impact. The way we use words in a business negotiation can make or break the deal. This is especially clear if our dialogue is phrased poorly, misinterpreted, or misunderstood. Words can evoke visceral reactions or emotional responses such as boiling rage or howls of laughter. The language we use also provides some insight into the individuals on our own
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Top 10 Crucial Rules for College Grad Interview Negotiations
If you're fresh out of college and going for job interviews, chances are you're at a big disadvantage. Why? Your interviewer is likely to have years of interview negotiation experience over you. Time someone levelled the playing field: 10. Aim High & Negotiate! Does a sports coach tell his team to 'take it easy and just hope for the best' before they run onto the field or pitch? Not unless he hates holding trophies. So if a winning sports team runs out aiming high, then so should you
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International Forex Currency Risk Agreements (Part 1)
My Currency or Yours? Billions of Dollars, Euros, Yen, British Pounds and a multitude form of international currency whips around the world electronically every day, in a mind numbing blink of the eye. Every business person knows how easily a country's currency can fluctuate and wobble wildly due to a variety of reasons. Currency traders can raise the value of a developing country's currency to soaring heights one day, and bring it crashing down a week later. Many of these impacts
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Conflict Negotiation: Psychological Dynamics
"It is easier to perceive error than to find the truth, for the former lies on the surface and is easily seen, while the latter lies in the depth, where few are willing to search for it."Johann Wolfgang Von Goethe Freud is alleged to have said, "A cigar is just a cigar". Yet at the negotiation table, differences in perception are too often distorted and magnified by the emotions and biased outcomes of one or more parties. Negotiation often needs to go through a conflict resolution
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What Is Win-Win Negotiation?
Ever heard someone say that they "gave away the farm?" Despite our best intentions, we sometimes negotiate too much value away to arrive at an agreement. Even when we enter our talks with high motivations and with a cheery spirit of cooperation, we have to be wary. It's wise to dip our toes cautiously into the waters to make sure we aren't about to be devoured by a grinning, hungry shark. Today, many of us hear that win-win negotiations are all the rage. Academia has in more recent times
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How to Build Client Relationships in Business
What would you do? A top-tier accounting firm was busy celebrating another year of fee income growth from one of its most important audit clients, a huge telecommunications business. The audit had run smoothly from the accountants’ view, despite some hiccups on delivery times and quality control. However, overall, the advisers were happy with the depth of the relationship they had built and their position to keep the plum business. So, when the client asked for an internal
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21 Fun Stress Releases and How to Negotiate them
If you work in IT, and you're not experiencing stress on the job, consider yourself lucky - very lucky. In a 2006 stress survey, 97% of people working in IT reported that they experienced on the job stress - not just occasionally - but on a daily basis. Medical professionals who frequently experience trauma and death among patients, had the next highest stress. Stress leads to physical conditions including obesity, diabetes, ulcers, high blood pressure, high cholesterol, cardiovascular
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Getting to Yes (book review & summary)
Getting to Yes - Negotiating Agreement Without Giving In by Roger Fisher and William Ury was first published in 1981. The title has become a classic read for any novice interested in learning negotiation skills. While the book is still a very useful read, the reader should be aware that negotiation theory has not remained static. Many negotiation writers have challenged some aspects of Fisher and Ury's model and approach, as negotiation itself has evolved due to rapid changes
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Gender Communication Styles
Gender Communication Style Differences: Women in Negotiations Little did we know that the communication differences we experienced as children on the playground would move from the classroom to the boardroom. As the face of business transforms with more women occupying key management positions, the requirement of reducing the gender communication gap is growing: miscommunication can cost money, opportunities, and jobs. Statistics tell the story. In the USA, women
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8 Effective Negotiation Training Skills
We learn a lot from school and later skills training, but the truth is that unless we learn the most important lessons and can apply these skills outside of the classroom in the tough school of hard knocks we call 'real life', our results will be less than stellar. So which are the training course theories that will serve us best in the real world in our business negotiation challenges? Learning to negotiate effectively in a negotiation does not come naturally to everyone. A few of
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Internal Negotiations: Supporting the External Deal
Considerable effort is given to negotiation training and preparation by negotiators in their external negotiation interactions with clients, suppliers, partner and competitors. We have seen from our experience from training B2B salespeople, account managers, and regulatory team members, just how often their internal negotiations positively or negatively impact external negotiated agreements. All too frequently the internal negotiations are not given their just
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Successfully Negotiating International Business Contractual Agreements
Western business people are often in too much of a hurry, and rush into making a deal. In international partnerships, we should spend more time thinking about how 'haste makes waste' rather than succumbing to the belief that 'time is money'. We've all seen psycho-thriller sand what happens when two strangers jump into bed before getting to know each other. Usually, it doesn't end very well, and after watching the carnage unfold on the screen, you swear you'll never do that again.
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