Summary on Video_Negotiation

Summary on Negotiation Video


We negotiate in every activity in life

A gambit is any maneuver for advantage

Rules of negotiation

• Never jump at a gambit

• Never jump at the first offer

• Always negotiate to make the other party feel some competition

• Do not negotiate when it is too risky

Types of gambit

1. Flinching the gambit – in pretence.

a. Lower the expectation of the other party

b. Find out the hidden agenda

2. Reluctant buyer gambit – don’t show enthusiasm

3. Nibbling gambit – asking for more after winning or getting one thing. Always ask for more at the end of a negotiation

4. Counter gambit – makes the other party feel cheap

5. Vise gambit – makes you do better than the other party

a. Fear of titles – get away from this quickly when the negotiator presents this

b. Fear of punishment – this is also the fear of humiliation

c. Promise of reward

d. Influence of power

e. Control of charisma

f. Intimidation by withholding information

6. The “good guy”, “bad guy” gambit – two people ganging up with one of them pretending to be on your side

7. Set aside gambit – negotiate based on a small item/issue and then bringing up the bigger item/issue subsequently

8. Splitting the difference gambit – expressing disappointment after all efforts to make the other party come down

9. Trading off gambit – always asking for something in return for giving up one thing in a negotiation. Trading off stops the other party from asking for more

Principles of negotiation

• Value of acting dumb – people will try to help you in this instance

• Power of walking away – be really prepared to walk away if it really gets tough

• Put it down in writing – People tend to agree more easily to written statements

• Always set the following in the course of bargaining: a) determine a walk-away point, b) set a target point.