Essay about The Sluggers Come Home

1273 Words Jul 21st, 2012 6 Pages
| |
|The Sluggers Come Home |
| |
| |
…show more content…
This can be accomplished through extensive research and any brief communications with the organization. A negotiatior does run the risk of making decision-making errors if not careful. One is irrational tendencies. Two common irrational tendencies in a negotiation is: 1) unrealistic expectations and 2) overconfidence and under confidence. Information is often the cure for unrealistic expectations and is critical to reaching an optimal agreement. Research, ask questions, and listen. What you’re looking for is opportunities to add value to the negotiation. Another error made in negotiation is cognitive biases in the form of the irrational escalation of commitment (Hames, 2012, p. 208). As humans, we typically want to get things done as quickly as possible. However, sometimes in our rush, we may leave valuable items on the table or make a rash decision in an agreement in which we would have been better off just walking away from the table. Two means that will help us resist irrational escalation of commitment are: 1) knowing your BATNA (Best Alternative To A Negotiated Agreement) and 2) establishing your reservation price (bottom line of what you will accept). Always know your BATNA and reservation price before entering into a negotiation. Stage 2: Bargaining As with preparation for a negotiation, one of the biggest assets in bargaining is information, information, information. Information and knowledge

Related Documents