Bargaining for Advantage Summary
5 min read ⌚
Negotiation Strategies for Reasonable People
The world we live in compels us to always seek for improvements, but is it possible to exploit the technical know-how, while lacking interpersonal skills? – It’s pretty hard.
Our Bargaining for Advantage Summary presents the link between these two, and outlines Shell’s key findings!
Who Should Read “Bargaining for Advantage”? And Why?
As a comprehensive, insightful and highly entertaining guidebook, G. Richard Shell undoubtedly takes the negotiating process to the next level, with numerous examples and inspiring solutions.
With the nature of businesses nowadays, this book comes highly recommendable to brokers, managers, financial advisors, investors, owners, executives, and even lawyers. Want to make the most out of social interactions? Implement these tips and never hesitate!!
About G. Richard Shell
Richard Shell is a globally recognized individual in the realm of management, law, negotiating, and writing. He has the credentials of being a negotiation expert and momentarily works at the Wharton School of the University of Pennsylvania as a professor.
It’s quite catchy that BusinessWeek gave Shell the honors (three times) as one of the best business school professors in the country.
“Bargaining for Advantage Summary”
Negotiation was once considered the only way of making money, meaning that your negotiation skills defined the amount of profit you’ll be taking home at the end of the day.
If you stand out from the group as influential interactor, then perhaps you possess the fundamentals of becoming a proficient negotiator.
First and foremost, your abilities are evaluated every day, based on numerous communications that unfold spontaneously.
Stick with us and see what we have left in store:
As complex as it may seem, in fact, the only thing shaping your future is “guts”. We bet that you have a few guesses, of what are we trying to emphasize. One must undergo a drastic inner reform if so needed in order to be in a position to discuss good deals on a regular basis.
Making a good bargain stretches beyond the old-fashioned “street-market transactions” which calls into question the notion – The bargaining days are over.
Do the ends justify the means?
To some extent, yes, but the real game is actually quite simpler. The deal is not to outsmart the interlocutor, or trick him/her, but to get a fair price for whatever you are purchasing or selling.
By all means, negotiations involve product exchange or commodity for some amount of money, which confirms G. Richard Shell’s claim that the bargaining days are anything but over!!
For a more strategic overview – stay with us!!
World’s wealthiest people are aware that not everything has a price tag. Their daily job consists of protecting their interests, a policy that can give you the upper hand in any situation.
Since negotiations are technically the end-product of profitable interactions, they can be described as a set of mental abilities, or principles used while communication takes place.
The author of “Bargaining for Advantage” trusts its instinct on this one. A real self-taught master, with expertise in presenting solutions, and embarking on fruitful interaction or in this case – negotiations.
What is there to lose?
As an expert in this field, he unselfishly offers an explanation on subjects related to the mastery of bargain. Takes this situation for example; The Management decides that it’s in your interest if you advocate for merging between two companies in the same sector.
The vision is to combine these elements and take control over the market – so the process of making this historical deal – starts, the minute you say so.
You attend the negotiations, and at some point, you feel left out, because you don’t contribute to the discussion, which means that the chances for concluding a profitable deal decline.
Got the picture?
Your personality is the biggest “culprit” in making things go your way/ or not: With intensity in mind, “Bargaining for Advantage” displays five critical perspectives in negotiation:
- “Sidestep” – Run for cover if you don’t sense any reason in the discussion. In bargaining you mustn’t show any signs of impatience, meaning that if you are in a hurry to finalize this deal, they’ll use it against you! Sometimes it’s better to maintain the status quo.
- “Come to an agreement” – For this scenario, it’s imperative that both parties are happy, and satisfied with the terms!
- “Accommodate” – This sequence of events can be best explained as an agreement absent “papyrology.” A thesis which indicates that you’ve never signed any formal document.
- “Full-scale” – You are holding your ground – unwilling to lower the demands – meaning that you are a persistent negotiator!!
- “Collaborate” – solve the problems by designing mutual solutions to overcome the blockade.
Key Lessons from “Bargaining for Advantage”
1. Be familiar with your capabilities
2. A process of utmost importance
3. Cultural differences in negotiations
Be familiar with your capabilities
The successful negotiator is aware of its pros and cons and uses that knowledge in social interactions. Every story has two sides; bargain implements the same logic because it serves both parties to get the best deal for them.
A process of utmost importance
According to some, negotiation cannot be disregarded, since it follows us everywhere we go. Generally speaking, the process of improving your communication skills takes times and patience. Yet, some individuals cannot cope with the pressure and intensity of it!
Cultural differences in negotiations
Even though it may seem strange, the culture plays a pivotal role in how negotiations unfold. It affects your bargaining style and forces you to go one specific path.
Let’s take Lebanon for example: Although in Western Countries it’s a sign of disrespect to leave a discussion once it’s been heated to the max, in Lebanon, walking away actually illustrates that you are a tough negotiator.
What a turn of events, ha?
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“Bargaining for Advantage” QuotesTo be good, you must learn to be yourself at the bargaining table. Click To Tweet Shared interests are the ‘elixir of negotiation,’ the salve that can smooth over the issues which you and the other party genuinely disagree about. Click To Tweet First, all deals that close are win-win deals. The two sides would not agree to a proposal unless they thought agreement was better for them than no deal. Click To Tweet Research on negotiation reveals a striking fact: People who expect more generally get more. Click To Tweet A negotiation is an interactive communication process that may take place whenever we want something from someone else or another person wants something from us. Click To Tweet
Our Critical Review
“Bargaining for Advantage” is one of those books you can apply in almost any situation. Not many classics share the versatility as this one, which subtly exposes our thoughts on G. Richard Shell’s masterpiece.
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Emir is the Head of International and SEO at 12Min. In his spare time, he loves to meditate and play soccer.