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We all negotiate on a daily basis. We negotiate with our spouses, children, parents and friends. We negotiate when we rent an apartment, buy a car, purchase a house and apply for a job. Your ability to negotiate might even be the most important factor in your career advancement.
Negotiation is also the key to business success. No organization can survive without contracts that produce profits. At a strategic level, businesses are concerned with value creation and achieving competitive advantage. But the success of high-level business strategies depends on contracts made with suppliers, customers and other stakeholders. Contracting capability—the ability to negotiate and perform successful contracts—is the most important function in any organization.
This book is designed to help you achieve success in your personal negotiations and in your business transactions. The book is unique in two ways. First, the book not only covers negotiation concepts, but also provides practical actions you can take in future negotiations. This includes a Negotiation Planning Checklist and a completed example of the checklist for your use in future negotiations.
The book also includes (1) a tool you can use to assess your negotiation style; (2) examples of “decision trees,” which are useful in calculating your alternatives if your negotiation is unsuccessful; (3) a three-part strategy for increasing your power during negotiations; (4) a practical plan for analyzing your negotiations based on your reservation price, stretch goal, most-likely target, and zone of potential agreement; (5) clear guidelines on ethical standards that apply to negotiations; (6) factors to consider when deciding whether you should negotiate through an agent; (7) psychological tools you can use in negotiations—and traps to avoid when the other side uses them; (8) key elements of contract law that arise during negotiations; and (9) a checklist of factors to use when you evaluate your performance as a negotiator.
Second, the book is unique in its holistic approach to the negotiation process. Other books often focus narrowly either on negotiation or on contract law. Furthermore, the books on negotiation tend to focus on what happens at the bargaining table without addressing the performance of an agreement. These books make the mistaken assumption that success is determined by evaluating the negotiation rather than evaluating performance of the agreement. Similarly, the books on contract law tend to focus on the legal requirements for a contract to be valid, thus giving short shrift to the negotiation process that precedes the contract and to the performance that follows.
In the real world, the contracting process is not divided into independent phases. What happens during a negotiation has a profound impact on the contract and on the performance that follows. The contract’s legal content should reflect the realities of what happened at the bargaining table and the performance that is to follow. This book, in contrast to others, covers the entire negotiation process in chronological order beginning with your decision to negotiate and continuing through the evaluation of your performance as a negotiator.
A business executive in one of the negotiation seminars the author teaches as a University of Michigan professor summarized negotiation as follows: “Life is negotiation!” No one ever stated it better. As a mother with young children and as a company leader, the executive realized that negotiations are pervasive in our personal and business lives. With its emphasis on practical action, and with its chronological, holistic approach, this book provides a roadmap you can use when navigating through your life as a negotiator.
- Sales Rank: #29939 in Books
- Published on: 2014-10-04
- Original language: English
- Number of items: 1
- Dimensions: 8.50" h x .38" w x 5.50" l, .44 pounds
- Binding: Paperback
- 168 pages
About the Author
George Siedel is the Williamson Family Professor of Business Administration and the Thurnau Professor of Business Law at the University of Michigan. He teaches negotiation at Michigan's Ross School of Business and around the world to business leaders, entrepreneurs, attorneys, physicians, athletic directors, and judges. He recently developed a free negotiation app: negotiationplanner.com.
Professor Siedel completed graduate studies at the University of Michigan and Cambridge University. He served as a visiting professor at Stanford University and Harvard University and as a Visiting Scholar at Berkeley. As a Fulbright Scholar, he held a Distinguished Chair in the Humanities and Social Sciences.
Professor Siedel has received several national research awards including the Maurer Award, the Ralph Bunche Award, and the Hoeber Award. He has also received many teaching awards, including the 2014 Executive Program Professor of the Year Award from a consortium of 36 leading universities committed to international education.
Most helpful customer reviews
15 of 15 people found the following review helpful.
An excellent resource, not merely for business, but for life!
By Erika Hauptman
This is an excellent book on negotiation. I am taking Professor Siedel's MOOC course online, and the text is directly aligned with his instruction. I particularly like this text because it is clear, concise, and methodical. Although negotiation can seem complex, this text breaks down key strategies point-by-point, and these strategies for negotiating can be applied in every facet of life. This is a quick read, and an excellent resource, not merely for business, but for life.
5 of 5 people found the following review helpful.
Pretty Solid Intro...just redundant if taking coursera
By Josh
The book as a standalone is a great resource. Paired with the coursera course, it's a little redundant. I would say choose one over the other unless you are paying for the certificate. I enjoyed the book and felt like there were some great, high level ideas I can apply in business and in life. I just couldn't stand hearing it repeated at such a slow pace during the course. I actually sped it up to 2X the natural speed because I couldn't stand how slow he talks. He seems like a nice guy and knows his stuff, just talks to slow. So again, I give the book a five. I just think it drops in value if you are ALSO taking the course.
2 of 2 people found the following review helpful.
Must-read book! Negotiating for Success is major life skill and this book shows the way
By Jose Fernando Torres
This is an excellent negotiation book. I encourage you to read the book in conjunction with the MOOC that Professor's Siedel created on "Succesful Negotiation: Essential Strategies and Skills" in Coursera. Anyway, the book is a great read and of highly practical use by itself as well.
The book is unique in its organization by covering each step in the negotiation process chronologically from preparation through performance. Accordingly, the book is organized as follows:
Unit I: Prepare to Negotiate
Unit II: Use Key Strategies and Tactics During Negotiations
Unit III: Close Your Negotiation With a Binding Contract
Unit IV: Complete Your End Game
Appendix A: Negotiation Planning Checklist
Appendix B: Example of a Completed Negotiated Planning Checklist
Appendix C: Assess Your Negotiating Style
The chronological order of the book made it easy to understand and each chapter has a "Key takeaway" summarizing the most important concepts covered. Further, the book provides concrete examples and case studies to show how the concepts are applied in practice and is written in a style which provides deep insights through plain language.
I particularly enjoyed the Negotiation Style Assessment and the Chapter on the "Use of Psychological Tools" for negotiation. These set of tools are applicable to many other areas besides negotiation, such as decision making and litigation.
I highly encourage you to purchase this book!!
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