Five Basic Negotiating Strategies - Key Concepts in Negotiation

What is your strategy when you go into a negotiation? There are five basic negotiating strategies. In this video, I'll describe them, based on the work of Kenneth Thomas and Ralph Kilmann.

Watching this video is worth 2 Management Courses CPD Points*.
(See below for more details)

This video is part of course module number 5.2.2
Program 5: Managerial Skillset
Course 2: Negotiation
Section 2: Key Concepts in Negotiation

Other videos about Key Concepts in Negotiation include:
. Core Principles of Negotiation    • Core Principles of Negotiation  
. Five Basic Negotiating Strategies    • Five Basic Negotiating Strategies - K...  
. Scope for Agreement    • Scope for Agreement - Key Concepts in...  
. Four Primary Negotiating Behaviors    • Four Primary Negotiating Behaviors - ...  

Module 5.2.1 covers the Fundamental Model of Negotiation. Start with the introductory video:
. Fundamental Model of Negotiation -    • Fundamental Model of Negotiation - th...  


LESSON NOTES
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Kenneth Thomas & Ralph Kilmann developed a model: the Thamas-Kilmann Conflict Modes Inventory. It identifies five modes of conflict. And, since negotiation is simply conflict that plays by a set of rules (a process), these conflict modes translate into five negotiating strategies.

We can understand the negotiation strategies by considering two dimensions:
1. Concern for outcome - Assertiveness
2. Concern for relationship - Cooperation

The Five Negotiating Strategies are:
1. Competing
2. Accommodating
3. Avoiding
4. Compromising
5. Collaborating (for win-win)


RECOMMENDED EXERCISE
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1. Most of us have a default (preferred) mode, which we tend to over-use. What is your favorite negotiating strategy? (1 MC CPD Point)
2. Think about times when you may have used your default strategy inappropriately. What was the impact? Which strategy could you have used, to better effect in each case? (2 MC CPD Points)
3. Think about any negotiations (formal or informal) that are ahead of you. For each one, think through which of the five negotiating strategies will be right for the situation? (2 MC CPD Points)
4. Extend your consideration of these situations by planning out how you will enact that strategy. (2 MC CPD Points) If you need to, revisit our videos on:
. Preparation Stage -    • Preparation Stage of the Negotiation ...  
. Opening Stage -    • Opening Stage of the Negotiation Process  
. Bargaining Stage -    • Bargaining Stage of the Negotiation P...  

DOWNLOADS
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Free Resources
CPD Tools - https://gum.co/MC-CPD
Paid resources
Management Courses Onboarding Kit - https://gum.co/MC-ObK ($3)

RECOMMENDED READING
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Negotiate Wisely in Business and Technlogy (A basic introduction) https://geni.us/a2n1T6Y
Everything is Negotiable) (A basic introduction) https://geni.us/Ozwwr
Getting to Yes (the classic text) https://geni.us/U3CjduK
Getting Past No (the follow-up to Getting to Yes) https://geni.us/VQAd7
Bargaining for Advantage (another classic) https://geni.us/anBn
Negotiation Genius (Modern look at the negotiation mindset) https://geni.us/cBKKn3x
Never Split the Difference (red hot tips from ex-hostage negotiator) https://geni.us/YBSogJ

Management Courses Continuing Professional Development (CPD) Points
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