Author: MBA Pundit

As they are called upon to make decisions during the course of a negotiation, individuals representing themselves need consult with no one. They can, of course, be represented by a lawyer or other designee. In any event, the lines of communication are relatively simple. The lines of communication become more complicated in group situations. Corporations,…

We tend to speak of negotiation as taking place at the bargaining table just as we assume that professional baseball and football are played in a stadium. But negotiations can take place anywhere at any time. In many negotiations, the bargaining table is simply where the parties exchange proposals and information with major decisions made…

Stage One: Opening Moves As in many games, the life cycle of a negotiation usually involves three stages. In The first or opening stage, the parties usually exchange initial proposals, discuss the issues in general terms without making any counter proposals and arrange the housekeeping aspects of the negotiation. At a second or third meeting,…

As the eminent British philosopher, Walter Bagehot, once said, “When two men ride on a horse, one has to ride in front.” In negotiation, there are two horses to ride: one for the individual who is the chief spokesman for his side and the other for the individual or individuals who are the chief decision…

Since agreement requires mutual consent, negotiation necessarily includes the possibility of disagreement. Parties may discuss terms of settlement but they can also refuse to agree to the terms demanded by the other side. Put another way, negotiation means that both sides have the right to disagree with each other, the right to say no. But…