Dr. Victoria Medvec on the Art and Science of High Stakes Negotiations

Nov 23, 2023

Dr. Victoria Medvec, a negotiation expert and Kellogg School of Management professor, shares her insights on high-stakes negotiations. She emphasizes the importance of understanding BATNA—Best Alternative to a Negotiated Agreement—and finding ways to analyze both parties' weaknesses. Listeners learn about the intricacies of M&A negotiations, the benefits of making the first offer, and overcoming common pitfalls like deal fatigue. Medvec also addresses generational differences in negotiation styles and the importance of face-to-face communication for success.

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Intro

00:00 • 3min

Mastering Negotiation: The Power of BATNA

03:27 • 23min

Navigating Complex Negotiations

26:24 • 11min

Mastering High-Stakes Negotiation Techniques

37:39 • 4min

Mastering Negotiation Tactics

41:11 • 10min

Navigating Negotiation Pitfalls

51:38 • 29min

Bridging Generational Gaps in Negotiation

01:21:02 • 11min

Overcoming Bias for Effective Negotiation

01:31:53 • 3min

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Today I'm joined by Dr. Victoria Medvec, a Professor of Management and Organizations at the Kellogg School of Management at Northwestern University. In addition to her professorship, Dr. Medvec is the CEO of Medvec and Associates, a consulting firm focused on high stakes negotiations and strategic decisions. She is also the author of the best-selling book, Negotiate Without Fear, which was published in 2021. Dr. Medvec is a renowned global expert in the areas of negotiations, often advising senior executives and Boards of Directors from companies around the world. Her clients include IBM, Cisco, McKesson, General Electric, Merck, McKinsey, BlackRock, Goldman Sachs, McDonalds, Bristol Myers Squibb, and J.P. Morgan Chase, to name just a few.