Learn to Negotiate Effectively
Steps for reaching a satisfactory agreement
The art of negotiation isn’t easy, but it’s a skill that can be improved with practice if you have a solid foundation and adequate preparation. One of the keys for achieving success is applying a dynamic and creative focus to the process.
In an article in issue 15 of IESE’s management review IESE Insight, IESE Prof. Kandarp Mehta explains that success in a negotiation depends basically on the level of creativity reflected in the initial offer and following counteroffers. What’s more, creativity in counteroffers becomes critical when it comes to reaching an agreement, he argues.
According to Prof. Mehta, when an offer is creative, “the parties can move from choosing from available alternatives to creating other new ones. They put aside the typical obsession with immediate benefits to enter into a mutually favorable agreement.”
He also adds: “A creative initial offer that includes elements beyond those related with prices gives the other party more flexibility in the negotiation, as well as vital information on possibilities for creating value.”
To help executives improve their bargaining skills, IESE offers the Short Focused Program High Performance Negotiator, led by IESE Prof. Juan Roure. The program will be held July 22-24 in Barcelona.