Thursday, February 6, 2014

Negotiation Techniques and Deal Making

   The purpose of this blog is to reflect on the negotiation techniques effective to getting to yes. Three presenters were chosen as professional examples of best practice. Professor Deepak Malhotra of the Harvard Business School, Paul Zwier
of Emory Law School and Ronald M. Shapiro of Shapiro Negotiations Institute.

  This blog is intended to share a little light on the importance of understanding why negotiations must be prepared before the process is undertaken. This review also shows the best practices from three perspectives. This information can be applied to all areas of negotiation however it is intended to service the Entertainment Community.

  The main areas of negotiation involve separating the emotions from the issues, the benefits of the deal, the interest of the person, the use of objective criteria such as stats and third party unbiased sources and the need to be flexible. Each of these key ideas are used in varying ways by each of the chosen professionals, who express their negotiating technique.

  Professor Deepak Malhotra is also a best-selling author of “Negotiation Genius”.
His style reflects on the need for being liked and deserving what one is asking for in a negotiation. Mr. Malhotra focuses on justifying needs and being flexible. His style re enforces the fact that the negotiator must know what is important and how the benefits justify the deal. He also shows that it is very important to do research to use objective criteria effectively.

  Emory School of Law presented Paul Zwier who discussed advanced negotiation techniques. Mr. Zwier impressed the idea that research is necessary to remain unbiased. He expressed that needs must resolved first in order to keep interest in control of the negotiations. He looks at shared needs to determine where the conflicts between needs arise. He stresses problem solving and keeping tricks at bay. He arrives at the win-win solution by developing relationships during the process of negotiation.

  Ronald M. Shapiro of Shapiro Negotiations is a leading Sports Agent. He presented a very explosive lecture at Case Western Reserve University School of Law. Mr. Shapiro stresses listening and understanding alternatives. He believes that keeping the ego out of the way is necessary to building relationships. He also applies problem solving by using creativity.

  Each negotiator has a different approach to getting to yes. They each share the basic negotiating values such as; interest, objective criteria, separating emotions from the problem, mutual gain through alternatives and they weave their styles around these ides to reach a satisfying win-win solution for all parties.

  The role of the negotiator is to provide the best solution that will satisfy the clients with their best interest to close the deal. Applied to entertainment the deal must be made and the show must go on.

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