Negotiate logically, not intuitively
Strategies should be based on the individual situation
Donna Nebenzahl, Canwest News Service
Published: Saturday, May 31, 2008
We negotiate all the time: with family and friends about fitting that event or party around everybody's schedules or with the guy in the parking lot about getting that easy-access space.
We might feel capable of relying on our intuition, experts say, but we often can't distinguish where intuition works and where it doesn't.
Most of us trust our intuition more than evidence suggests we should, according to Harvard Business School professors Max H. Bazerman and Deepak Malhotra
Writing in the journal Negotiation, the authors describe the two systems of thought most of us use when we negotiate. First, there's intuition, the quick, automatic thought influenced by emotion. Then, we have a slower, more deliberate and logical way of thinking that considers options carefully.
Busy managers and executives often fall back on intuitive thinking. This is fine when the tasks being negotiated are simple, but for more important negotiation, they offer four strategies.
Strategy 1: Identify situations that call for extra vigilance. This could be issues involving money, business strategies or direction.
Strategy 2: Don't let time pressure affect your decisions.
This means you ensure there's enough time to negotiate. Don't let yourself be forced to make decisions.
Strategy 3: Partition the negotiation across multiple sessions.
Realize that it isn't necessary to reach an agreement right away, no matter how much you would like to get the negotiation over with.
Strategy 4: Adopt an outsider lens.
Unfortunately, most people believe they are capable of handling negotiations with an insider lens.
Maybe what you need to do in a negotiation is to hire a real outsider, an expert suited to your needs who will maintain objectivity.
