Business Negotiations Lecture Notes

Vocabulary flashcards covering negotiation balance, habits of effective negotiators, principled negotiation, lessons from famous negotiators, and B2B negotiator roles from the University of Chile lecture.

Too soft

A negotiation approach characterized by conceding prematurely, avoiding difficult questions, and sacrificing one's own interests.

Calibrated

A balanced negotiation approach where one listens, tests assumptions, protects priorities, and exchanges value.

Too hard

A negotiation approach that escalates conflict, creates resistance, and damages trust and future opportunities.

Preparation (Nadia Comaneci quality)

Researching the counterpart, BATNA, and objectives before entering a negotiation.

Composure (Nadia Comaneci quality)

The ability to control emotions and respond effectively under pressure.

Precision (Nadia Comaneci quality)

The practice of choosing words, timing, concessions, and actions carefully.

Negotiation success

Achieving a wise agreement, sound process, fair criteria, and durable relationships, rather than a single fixed score as in sport.

Preparation (Eight habits)

The habit of knowing your BATNA, reservation point, and ZOPA.

Active listening (Eight habits)

The habit of asking questions, paraphrasing, and uncovering the underlying interests of the other party.

Emotional control (Eight habits)

The habit of responding thoughtfully instead of reacting impulsively.

Empathy (Eight habits)

The habit of understanding the other side's perspective without surrendering your own interests.

Creativity (Eight habits)

The habit of expanding the possible deal structure and options.

Discipline (Eight habits)

The habit of knowing what not to concede during a negotiation.

Credibility (Eight habits)

The habit of being transparent and reliable.

Adaptability (Eight habits)

The habit of adjusting your negotiation approach based on incoming signals.

Principled negotiation

A negotiation framework from Getting to Yes centered on separating people from the problem, focusing on interests instead of positions, inventing options for mutual gain, insisting on objective criteria, and knowing/improving BATNA before accepting a deal.

Bob Iger (Negotiation lesson)

Build personal trust and address the counterpart's identity, autonomy, and long-term interests while balancing deal value and price against creative independence, trust, and stewardship.

Juan Manuel Santos (Negotiation lesson)

Persist after setbacks, broaden dialogue, include victims, and seek legitimacy while balancing ending violence with accountability and table agreements with public support.

Chris Voss (Negotiation lesson)

Employ tactical empathy, calibrated questions, labeling emotions, and listening for hidden constraints while balancing empathy with agreement and information gathering with pressure for an immediate yes.

Oprah Winfrey (Negotiation lesson)

Negotiate for equity, intellectual property, and decision rights rather than just immediate pay while balancing salary with long-term ownership and distribution reach with creative control.

Nelson Mandela (Negotiation lesson)

Keep communication channels open, manage multiple stakeholders, and work incrementally on tough issues while balancing speed with consensus and pressure with ongoing engagement.

Henry Kissinger (Negotiation lesson)

Maintain open communication channels and construct deals by understanding the interests of all participating parties.

Catherine Ashton (Diplomacy focus)

Associated with multilateral coordination in diplomatic negotiations.

Rebeca Grynspan (Humanitarian focus)

Associated with creative issue-linkage in humanitarian negotiations.

Mohammed bin Abdulrahman Al Thani (Mediation focus)

Associated with maintaining access to opposing sides in mediation contexts.

Strategic thinker (B2B role)

A B2B negotiator role focused on seeing the long-term picture and communicating clearly.

Visionary (B2B role)

A B2B negotiator role focused on listening, building relationships, and spotting opportunities.

Value creator (B2B role)

A B2B negotiator role focused on designing options and deal structures that benefit multiple stakeholders.

Implementer (B2B role)

A B2B negotiator role focused on turning negotiated agreements into measurable results and ensuring follow-through.

Negotiator (B2B role)

A B2B negotiator role focused on managing objections, emotions, and internal/external approvals.