4.1: Multi-Party Business Negotiations
This video describes four parts to negotiation: goals, strategy, issues, planning. A key point for knowing whether you have won or lost in a negotiation is to compare the outcome with your initial goals. For example, what value do you place on the item or the issue? Outcomes must be clear and measurable so you can compare them to your original and subsequent goals.
This video stresses the need to prepare for successful negotiations. Two ideas will guide the chosen strategy: the importance of the outcome to you and the importance of your long-term relationship with the other party. There are four strategies you can use depending on the importance of the outcome and the relationship.
Read this article to learn about the advantages and disadvantages of coalitions and the challenges of multiparty negotiations. For example, in multi-party negotiations, the complexities are informational, procedural, and social. What is the definition of a coalition?