Can you walk away from the negotiating table with a contract in your pocket and your ethics intact?
It’s all too easy, if you have the upper hand in negotiations – whether it be through information asymmetry or generally a more favourable position -- to make full use of a power play in negotiations to get what you want, with the winner taking all and the loser walking away empty-handed.
From the most mundane transaction to strategic high-level boardroom dealings, knowing how to negotiate is integral to success and survival. Yet few have mastered the art of successful value negotiation.
When entering into negotiations, we should always take into account cultural factors such as the educational or religious background of the person sitting across the table, but many people both underestimate and overestimate the cross-cultural aspects.
Closing a deal can be ‘extremely hard’, says Horacio Falcão, because it’s the conclusion of the whole negotiating process.
Horacio Falcão looks at how women are often at a disadvantage in negotiations and how gender, race, and national stereotypes influence an individual's behavior.
Horacio Falcão describes the importance of negotiation dynamics in every aspect of life and offers some advice on how to avoid the major pitfalls.