Creating Value in Integrative Negotiations: Myth of the Fixed-Pie of Resources
This post has been viewed 2,934 times.
Creating value is the name of the game in integrative negotiations but these principles can also apply to the highly competitive realm of business negotiations. In the business world, why is competition so often the norm, while cooperation seems like an impossible goal? One of the most destructive assumptions we bring to negotiations is the assumption that the pie of resources is fixed. The mythical-fixed-pie mindset leads us to interpret most competitive situations as purely win-lose.
For those who recognize opportunities to grow the pie of value (see also, expanding the pie) through mutually beneficial tradeoffs among issues, the complexity of such negotiations is an asset. Tradeoffs allow you and your negotiating partner to achieve more than you would if you merely compromised on each issue.
Once negotiators have broken the assumption of a mythical fixed pie, the search for value can begin. To create value, you need to learn about the other party’s interests and preferences. Here are three proven strategies that will increase your likelihood of uncovering value in the negotiation process:
1. Build trust and share information.
2. Ask questions.
3. Give away a bit more information.
Read original articleTags:
