A retail business can apply the negotiation strategies discussed in this book by first understanding the needs and wants of the other party, which could be suppliers, customers, or employees. This can be achieved by investing time in preparation and research. The business should also foster a collaborative environment and encourage good listening skills among its negotiators. Depending on the situation, the business may consider using influence or persuasion instead of negotiation to resolve conflicts. Remember, effective negotiation is not about being the smartest or the most clever, but about understanding the other party's needs and wants.

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Bargaining for Advantage: Negotiation Strategies for Reasonable People

Ever wonder what makes a great negotiator? Read this book summary to learn about the latest social science and psychology research on negotiation. Get...

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Negotiations are polarizing; people tend to love them or hate them. A common misconception is that only competitive, cut-throat sharks can be successful negotiators. But you do not need to build up a thick skin in preparation for a negotiation. Social science experiments have shown that the most effective negotiators are people who like to collaborate and are good listeners who spend lots of time in preparation and research. One of the keys to effective negotiation is not how smart or clever you are, but how much you know about what the other side needs and wants. Depending on the situation, you may even consider taking an alternate route other than negotiation to resolve a conflict. Here is a chart that shows when you may need to progress to a negotiation situation rather than just using influence or persuasion to get what you want or need.

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The book "Bargaining for Advantage: Negotiation Strategies for Reasonable People" has significantly influenced corporate negotiation strategies by debunking the myth that only competitive, cut-throat individuals can be successful negotiators. It emphasizes the importance of collaboration, listening, and thorough preparation and research. The book suggests that understanding the needs and wants of the other party is crucial to effective negotiation. It also introduces the idea of considering alternate routes other than negotiation to resolve conflicts, depending on the situation. These insights have led many corporations to reevaluate and refine their negotiation strategies.

Potential obstacles companies might face when applying negotiation strategies could include lack of preparation, inadequate understanding of the other party's needs and wants, and a tendency to resort to competitive, rather than collaborative, tactics. Overcoming these obstacles involves thorough preparation and research, understanding the other party's needs and wants, and fostering a collaborative rather than competitive environment. It's also important to remember that negotiation isn't always the best route to resolve a conflict, and other methods such as influence or persuasion might be more effective in certain situations.

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