Organizations considering a merger or acquisition are often cautioned that the majority of such deals fail to live up to expectations and, indeed, end up as money-losing ventures.
When a team negotiates on behalf of an organization, it can often achieve more than an individual would thanks to the team’s cumulative knowledge and experience. Yet team negotiations can create new problems.
Business negotiators often worry about being deceived, and understandably so. The potential for being lied to or swindled can be high in negotiation, given that our counterparts typically have access to information about preferences, alternatives, product quality, and so on, that we lack. Yet research shows that negotiators often behave honestly even when doing so costs them money.
We might hope that when we adopt negotiation best practices—such as spending lots of time preparing and asking questions at the table—we would achieve consistently strong results in our negotiations. Yet as most of us have experienced, our outcomes and personal satisfaction can vary a great deal from one negotiation to the next. Why?
In negotiation, we gain power from strong alternatives, a powerful role, or our particular talents and skills. What if we lack power in a particular negotiation? We may be able to do well nonetheless if we merely feel powerful, research suggests.
Negotiations between friends and others in a close relationship are notoriously inefficient, research shows.
In a survey of office workers from Fortune 500 companies, Georgetown University professor Jeremy Yip and his colleagues found that 61% recalled hearing or engaging in boastful or insulting comments at work within the prior three months.
The French are well known for their sartorial style, but what about their negotiating style?
“Just be yourself”: It’s probably the most common advice given to job interviewees. But research suggests most people don’t follow the old cliché.
Women are underrepresented in leadership roles in the workplace, holding only about 16% of executive positions in Fortune 500 companies. Facebook COO Sheryl Sandberg and others have urged women to “lean in” by competing for high-level managerial jobs and negotiating for better pay and greater responsibility. Yet substantial evidence shows that many women who try to lean in face biased hiring and promotion processes that favor men.