Negotiation Case Studies, Business Negotiation August 1, 2011

An explosion of interest in negotiations

The debt ceiling talks between Congress and the White House have brought the importance of negotiations front and center. There have been many articles written about why the talks stalled or why a deal was so hard to negotiate. All in all, it has proven that knowing how to negotiate is an important skill to have in politics as it is in business.

We came across many great articles about the debt ceiling negotiations but wanted to share two in particular.

First, Business Insider had an article entitled “Why We Need More Ethics in Business Negotiations.” The article argues that negotiators sometimes ignore ethical considerations just to make a deal:

many corporations will ignore ethical considerations when making business decisions due to pressure from intense competition, the quest for higher profits or simple greed. Equally, ‘winning the deal’ sometimes becomes more important for executives than compromising to establish a relationship that could be used to forge multiple deals in the future.

Dealing ethically in business means wanting to establish a reputation for behaving fairly and honestly with competitors and clients. It also means taking into account all stakeholders in the deal – not just the two parties negotiating, but the entire community that may be affected by the long-term consequences

Read more: http://www.businessinsider.com/why-we-need-more-ethics-in-business-negotiations-2011-7#ixzz1Tmhvc2SC

Steve Adubato writing in the New Jersey Star Ledger finds much to learn in “Debt battle in DC offers negotiating lessons aplenty.” Adubato’s main lessons are as follows:

• Keep your eye on the ultimate goal
• Have a shared goal with the other party
• Listen with an open mind
• Set clear deadlines

What have you taken away from the debt ceiling negotiations? Please share in the comments.