1) Session 1: Biopharm and introduction session

• Concepts of BATNA, reservation price, target price and bargaining zone (diff reservation
prices)
• Distributive negotiations. Single issue and divide the pie. In the case: big bargaining zone
(more than expected). Hard to find infos about counterparts batna and stuff to guess the
bargaining zone. Have to look for common information.
• Beware: same info can be interpreted with egocentric bias.
• Look for compatible issues
• Anchoring effect for first offers large concessions enabled. Risk if too extreme or lack info.

Reading negotiation preparation

About you: goal, issues, and prioritisation, BATNA, reservation price
About other side: prioritised issues, BATNA, reservation point  thus my target price
About situation: deadline, fairness, other negos with them, authority style?

2) Session 2: NewRecruit and distributive negotiations

• extreme first offer good if good info on others’ batna and stuff and well prepared but not
if no info AND value a long term relationship
• Countering an offer by: ignoring, anchored aggressive counter offer then moderate,
suggest deal isn’t possible, act surprised, ask for explanation (may backfire)
• Revealing: reservation price NO, batna only if it’s a strong one
• Concessions to signal position and always bi-lateral
• Use precise numbers for anchoring
• Ask for concessions even if first offer is a good one

• Issues are either compatible, distributive (ends up middle) or integrative (A takes some
issues, B takes some other issues)
• Key for the case is to share info on the issue prioritisation.

Reading should you make the first offer

High anchors draw attention to positive aspects and low anchors draw attention to flaws.
Better results when a seller makes the first offer
Aggressive but not too much, focus on your target and their reservation (outside the zone)

Reading shape perceptions to claim value

Look for value outside of a pure price deal.
Almost always consider going first and justify your proposal for anchoring
Contrast principle so start with expensive  also big concessions into small ones

3) Session 3: Texoil and integrative negotiations

• Texoil case with no bargaining zone so need to find alternative values to create
• Move from positions to interests
• Shouls share and learn and meta anchoring on creating value what is the problem we’re
trying to solve
Reading behaviour of successful negotiator
Planning: twice more options identified, 3* common ground, 2* long term, no sequencing
Doing: 5* less irritating, less counterproposal, less defend/attack spirals, 4* labels for
behaviours, 2* questions, 2* summarizing, more sharing, less justification

Reading 6 habits for good negotiators

Not neglecting other side’s problem
Not letting price overshadow other interests
Not letting positions drive out interests
Not searching too hard for common ground
Not neglecting BATNAs
Not failing to correct skewed vision

4) Session 4: Bullard houses and building relationships

• For the case, need to prepare in advance what to disclose and what to answer to sensitive
questions
• The best option is a no deal here because each BATNA is better. Bargaining zone if only
finances but no bargaining zone if take interests into account
• Careful to the agreement bias which kinda forces you into some unnecessary agreements
• Be mindful of ethics in negotiations

Reading turn your opponent into your advocate

Manage impressions by seeking advice
Good for problem solving, likability, perspective taking, commitment from counterpart
How to do: express overall competence first, make it specific and only for them

Reading getting past yes

Danger of deal maker (interest, stakeholder, true to position, raise new issues at end, don’t
share, threatens and artificial deadlines, penalty clauses and counts commitment, keep
outsiders out of the negotiation).
Steps: start with the end in mind, help them prepare too, alignment is a shared
responsibility, send one message, business process with prep and postnego reviews

5) Session 5: Coalitions
• For the case, start with only money in mind but usually realize that relationship and trust
matter more. Some considerations nonverbal cues and binding agreements
• Trust built on competence (positive cues), benevolence and integrity (negative cues)
• Order of the negotiation and preparation time matter. Power comes from resources and
also process
• Power corrupts with self-serving attributions, in-group bias and system justification 
leads to risk taking, rules that favour the group, no perspective taking
• Powerlessness also corrupts with blind obedience, disengagement and neglect, rebellion
(Milgram)
• Bad cop, good cop only if counterpart seems negative or neutral not positive
• Think of the looser and the long term relationship

Reading negotiation auction

Buyer profile: auction if many byers, nego if buyers are known, have good alternatives and
different from one another
Asset characteristics: auction if asset is precisely defined, nego if potential for value
creation, relationship matters
Process: auction if speed matters, nego if tolerance for risk
Secrecy: secrecy important go nego, transparency go auction

6) Session 6:

Reading negotiating with liars

Lying under morality and legal framework. Not all deceptions are lies, also what you do
about not disclosing some information or being evasive
We are incompetent on spotting liars, non verbal and video cues are useless most of the
time, maybe just more pause and less blinking but that’s it.
To protect before: research and pre negotiation agreement
To protect during: look for signs, ask questions you know and in different ways, ask other to
come clean, take notes, verify, written claims in agreement, contingent for protection

Reading harnessing the science of persuasion

If you like them, they like you and listen to you so genuine praise and real similarities
People repay in kind so offer what you want to receive (reciprocity)
Social proof and peer power
Consistency and clear commitments alignment so make it public consistent and voluntary
Authority principle as people defer to experts so expose expertise and don’t assume it’s self-
evident
Scarcity people want more of what they are lacking  highlight unique benefits and
exclusive information