Negotiation Techniques Flashcards

Vocabulary flashcards covering the definitions, stages, roles, and strategies of negotiation based on the lecture transcript.

Negotiation

A process involving two or more individuals or groups communicating with each other in hopes of reaching an agreement about an issue or problem.

Six Phases of Negotiation

The sequential stages of negotiation consisting of: 1. Preparation, 2. Establishing rapport, 3. Discussion, 4. Proposals, 5. Bargaining, and 6. Reaching settlement.

Preparation Phase

The initial stage of negotiation where negotiators organize their thoughts by identifying key issues, their own interests and objectives, and the other party's interests.

Interest

A matter of fundamental concern that a party wants to defend or promote in a negotiation, distinct from a specific numerical target or objective.

BATNA

An acronym standing for 'Best Alternative to Negotiated Agreement,' representing the minimum acceptable baseline or alternative outcome if no agreement is reached.

Common Ground

Shared interests between negotiating parties that help establish a positive negotiating climate and facilitate reaching a mutually beneficial agreement.

Draft Copy

A preliminary version of a document or legal contract sent to the other party before meeting to save time and allow thorough preparation.

Rapport

A sympathetic understanding and positive relationship between negotiating parties that facilitates effective communication and helps avoid misunderstandings.

Small Talk

Polite, informal conversation about general non-controversial topics (such as weather or travel) used to build rapport before formal negotiations start.

Chairperson

The individual who formally opens a negotiation meeting and facilitates the structure of the discussion.

Discussion Phase

The phase where parties get to know each other, state the purpose of the meeting, agree on an agenda, explain their interests, and clarify any factual errors or omissions.

Agenda

An agreed-upon procedure and sequence of topics to be addressed during a negotiation meeting.

Proposal Phase

The stage of negotiation where parties put forward broad strategic suggestions to explore potential solutions and test the other party's willingness to reach an agreement.

Counter-proposal

An alternative proposal or suggestion put forward in response to an initial offer made by the opposing party.

Signal

A verbal sign or phrasing used by a negotiator to indicate flexibility or willingness to make a concession on a specific issue.

Bargaining Phase

The stage of negotiation where parties trade concessions, link offers to conditions, and ask hypothetical questions to formulate the exact terms of an agreement.

Hypothetical Question

A probing question asked during bargaining to explore how the other party would respond if a specific concession were offered, without officially committing to it.

Concession

A modification, discount, or reduction in a negotiator's position offered to the other party during bargaining in exchange for a reciprocal benefit.

Soft Negotiator

A negotiator who treats the other party as a friend, changes positions easily, and makes concessions readily to maintain a good relationship and reach agreement.

Hard Negotiator

A negotiator who views the other party as an opponent, demands concessions while making few or none, and applies pressure to win the negotiation.

Principled Negotiator

A negotiator who focuses on underlying interests rather than fixed positions, seeks mutually satisfactory solutions, and relies on rational discussion.

Reaching Settlement Phase

The final stage of negotiation where bargaining ends, agreement terms are verified and summarized, all outstanding points are addressed, and follow-up actions are scheduled.