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Negotiation
For Bank of America, Dealmaking to Turn the Page
September 26, 2014
Negotiation often marks a new beginning: of a partnership, a project, or employment relationship. At other times, the goal of dealmaking is as much about reaching an ending as it is about moving forward. That’s the attitude with which Bank of America wrapped up its settlement negotiations with the Department of Justice (DOJ) last month. For years, the bank has faced investigations and litigation related to mortgage lending in the years leading up to the 2008 financial crisis. Its talks with...
September 26, 2014
Negotiation often marks a new beginning: of a partnership, a project, or employment relationship. At other times, the goal of dealmaking is as much about reaching an ending as it is about moving forward. That’s the attitude with which Bank of America wrapped up its settlement negotiations with the Department of Justice (DOJ) last month. For years, the bank has faced investigations and litigation related to mortgage lending in the years leading up to the 2008 financial crisis. Its talks with...
When and How to Have a Difficult Conversation
September 26, 2014
Every one of us has to have a difficult conversation with someone at some time. How and when we have that difficult can make the difference between escalating the problem or finding a solution. The first thing to think about is when to have that conversation. Most people want to procrastinate the conversation as long as possible. Maybe someone else will tell the person, maybe if I wait long enough I won’t need to have that conversation. The problem is that the longer that you wait to have...
September 26, 2014
Every one of us has to have a difficult conversation with someone at some time. How and when we have that difficult can make the difference between escalating the problem or finding a solution. The first thing to think about is when to have that conversation. Most people want to procrastinate the conversation as long as possible. Maybe someone else will tell the person, maybe if I wait long enough I won’t need to have that conversation. The problem is that the longer that you wait to have...
What Makes a Good Negotiator? Maybe Not What You Think
September 24, 2014
1. Beliefs about negotiation. Those who think negotiators are born with innate skills didn’t perform as well as those who think people can improve their ability to negotiate. Just being aware that your results can improve can have a positive impact on your talks. Research also finds that those who approach negotiations with a positive attitude and high expectations tend to do better. 2. Selfishness and selflessness. Negotiators who are the most concerned about their own outcomes achieve...
September 24, 2014
1. Beliefs about negotiation. Those who think negotiators are born with innate skills didn’t perform as well as those who think people can improve their ability to negotiate. Just being aware that your results can improve can have a positive impact on your talks. Research also finds that those who approach negotiations with a positive attitude and high expectations tend to do better. 2. Selfishness and selflessness. Negotiators who are the most concerned about their own outcomes achieve...
5 Words Used By Liars
September 23, 2014
“That” when stated before a person, thing, or place, can suggest that a person is trying to distance himself from a person or comment. Someone proven to be a liar famously stated, “I did not have sexual relations with That woman, Monica Lewinsky. “Never” is usually used to overemphasize a negative phase. The answer could easily be no, but there is a reason why the person is using Never. She wants to emphasize the negative; perhaps to take you off the trail of the lie. “Did you have...
September 23, 2014
“That” when stated before a person, thing, or place, can suggest that a person is trying to distance himself from a person or comment. Someone proven to be a liar famously stated, “I did not have sexual relations with That woman, Monica Lewinsky. “Never” is usually used to overemphasize a negative phase. The answer could easily be no, but there is a reason why the person is using Never. She wants to emphasize the negative; perhaps to take you off the trail of the lie. “Did you have...
Negotiation Tips From Big Bang Theory
September 22, 2014
Big Bang Theory is one of the most popular shows on CBS, and is a simple testament to my inner geek. I love the show, the science, and the complicated scientific principles that seem so funny. One reason I believe that the show is so successful is that most of us, in some way, are also inner geeks. Whether in law, medicine, technology or otherwise. I thought I would use some of the Big Bang scenes to demonstrate some negotiation tips. 1. What You Don’t Know About Your Case and Your Situation...
September 22, 2014
Big Bang Theory is one of the most popular shows on CBS, and is a simple testament to my inner geek. I love the show, the science, and the complicated scientific principles that seem so funny. One reason I believe that the show is so successful is that most of us, in some way, are also inner geeks. Whether in law, medicine, technology or otherwise. I thought I would use some of the Big Bang scenes to demonstrate some negotiation tips. 1. What You Don’t Know About Your Case and Your Situation...
Developmental Negotiation: Preliminary Stage
September 19, 2014
Developmental negotiation involves a plan and execution of the development of all five stages to maximize the likelihood of a beneficial outcome. The five stages are preliminary, preparation, information, negotiation and closing. Let’s take a closer look at the first stage, preliminary. In real time, your client has met with you and has been signed up, and you are considering approaches. When signing the client, you developed a thorough understanding of the client’s needs, interests and capacity...
September 19, 2014
Developmental negotiation involves a plan and execution of the development of all five stages to maximize the likelihood of a beneficial outcome. The five stages are preliminary, preparation, information, negotiation and closing. Let’s take a closer look at the first stage, preliminary. In real time, your client has met with you and has been signed up, and you are considering approaches. When signing the client, you developed a thorough understanding of the client’s needs, interests and capacity...
A Framework for Advancing Negotiation Theory: Implications from a Study of How Lawyers Reach Agreement in Pretrial Litigation
September 14, 2014
The prevailing negotiation theory tries to fit lots of square pegs into just two round holes - adversarial or cooperative bargaining. In the real world, negotiation comes in many different shapes, not just circles and squares. Analyzing law school textbook definitions of the traditional models, this article demonstrates that the two “round holes” in current negotiation theory are poorly defined. It also presents empirical accounts of actual pretrial negotiations to demonstrate that the theoretical...
September 14, 2014
The prevailing negotiation theory tries to fit lots of square pegs into just two round holes - adversarial or cooperative bargaining. In the real world, negotiation comes in many different shapes, not just circles and squares. Analyzing law school textbook definitions of the traditional models, this article demonstrates that the two “round holes” in current negotiation theory are poorly defined. It also presents empirical accounts of actual pretrial negotiations to demonstrate that the theoretical...
Everyone’s an Amateur When It Comes to Negotiation
September 8, 2014
When Noah Hanft was general counsel and chief franchise officer of MasterCard Inc., he observed management colleagues deftly arrange deals for the big credit-card company. Yet when it came to their own careers, some executives' negotiation skills seemed to vanish. Mr. Hanft says he once refused to promote a senior manager because his 20-minute monologue pushing for an executive role showed "he couldn't communicate well." In May, the 61-year-old Mr. Hanft took charge of the International Institute...
September 8, 2014
When Noah Hanft was general counsel and chief franchise officer of MasterCard Inc., he observed management colleagues deftly arrange deals for the big credit-card company. Yet when it came to their own careers, some executives' negotiation skills seemed to vanish. Mr. Hanft says he once refused to promote a senior manager because his 20-minute monologue pushing for an executive role showed "he couldn't communicate well." In May, the 61-year-old Mr. Hanft took charge of the International Institute...
On Facebook, Dispute Resolution Goes Live
August 7, 2014
Facebook recently faced widespread criticism for conducting a psychology experiment on about 700,000 of its users without their informed consent. In the study, Facebook researchers manipulated users’ moods by exposing them to more positive or more negative posts than usual. Now CNNMoney reports that Facebook has been engaged in a more benign and possibly beneficial psychological experiment. The company has been under pressure to address the growing problem of “cyberbullying” among young...
August 7, 2014
Facebook recently faced widespread criticism for conducting a psychology experiment on about 700,000 of its users without their informed consent. In the study, Facebook researchers manipulated users’ moods by exposing them to more positive or more negative posts than usual. Now CNNMoney reports that Facebook has been engaged in a more benign and possibly beneficial psychological experiment. The company has been under pressure to address the growing problem of “cyberbullying” among young...
How Negotiation Games Can Help You Develop Skills to Resolve Business and Commercial Disputes
July 31, 2014
Private sector or commercial negotiations can range from relatively straightforward, high-stakes contract negotiations between...
July 31, 2014
Private sector or commercial negotiations can range from relatively straightforward, high-stakes contract negotiations between...
