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    The Sluggers Come Home ... Notes From Video: Preparation

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    The Sluggers Come Home ... Notes From Video: Preparation

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    The Sluggers Come Home ... Notes From Video: Preparation

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    Barclay, Laurie. Notes from the Video.

    Stanford video guide to negotiating : the sluggers come home.


    Wilfrid Laurier University, 2010.
    This copy is made solely for the use by students in the FALL 2018 offering of BU288 at Wilfrid Laurier University for research, private
    study, review, criticism, news reporting, education, parody or satire. It has been reproduced with permission from the copyright holder.
    Any other use may be an infringement of copyright if done without permission from the copyright holder.

    The Sluggers Come Home...


    Notes from Video

    Part 1 - Preparation
    Broad Questions

    ► What are the main categories of negotiation?

    ► What negotiation tactics did Ted/Billy (stadium owners) and Barbara (team owner) use?
    Where they effective? Why or Why Not?

    ► What can you do to make your own negotiation skills/tactics more successful?

    Specific Questions

    Two broad categories of negotiations:

    a. Distributive

    b. Integrative

    Two common irrational tendencies in negotiation:

    Unrealistic expectations

    Escalation of commitment
    Two key ways to help resist escalation of commitment:
    c. BATNA

    d. Reservation price

    Overcompetitiveness

    - Mythical fixed-pie

    Negotiating tactics:

    Quick deal

    Let other party make first offer

    Anchors

    Part 2 - Bargaining

    Giving information and secrecy

    Exchange information

    Flinch

    Anchors

    Barbara Ted
    Framing

    Risk vs. opportunity

    Purchase price vs. net profit potential

    Risk

    Integrative vs. Distributive negotiation

    Signals in distributive negotiation


    -Bids

    -Speed

    Suggestions if reach an impasse


    1. Focus on interests vs. positions

    2. Make small concessions

    3. Take a break

    4. Bring in a third party

    Emotions

    Information

    Negotiating "in a closet"


    Part 3 - Settlement
    Rules of Thumb:
    -Negotiate to the end

    -Read agreement carefully

    -Agree on the meaning of every provision in agreement

    Nibble

    Post-settlement Settlement

    Review of Video - Key Terms

    Overconfidence

    Underconfidence

    Escalation of Commitment

    Mythical Fixed-pie

    Anchors

    Framing

    Risk assessment

    Emotions
    Positive mood

    Disliking other party

    Liking other party

    How to negotiate a better deal:


    1. Acknowledge emotions but stick to business
    2. Take time
    3. Ask questions
    4. Research and trade information
    5. Evaluate proposals thoroughly
    6. Stay open to creative solutions by focusing on interests rather than just winning
    7. Recognize that sometimes the best deal is no deal at all- not all negotiations end in
    agreement

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