

145. Rethinks: The Art of Negotiation, How to Get More of What You Want
155 snips Jun 4, 2024
Margaret Neale, Adams Distinguished Professor of Management Emerita at Stanford GSB and co-author of "Getting More of What You Want," shares her expertise on negotiation. She emphasizes the importance of viewing negotiations as collaborative problem-solving rather than win-or-lose battles. Neale discusses how emotions play a crucial role in negotiations and offers strategies for effective communication. With anecdotes ranging from humorous to insightful, she highlights key ingredients like empathy and understanding to foster successful negotiations.
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Collaborative Problem-Solving
- Approach negotiation as collaborative problem-solving, not a battle.
- Focus on mutual gains and understanding your counterpart's needs.
Alternatives and Reservation Price
- Negotiators with better alternatives get better deals because they're willing to walk away.
- Establish a clear reservation price (your walk-away point) and stick to it.
Set Aspirations
- Set a realistic aspiration (your optimistic target) to avoid anchoring your expectations too low.
- Expectations strongly influence negotiation outcomes.