Understanding Priorities in Negotiation

 Knowing your priorities involves having a clear grasp of what you aim to achieve from the negotiation. It’s equally important to understand what the other party desires. By comprehending your own principles as a negotiator and as an individual, you can build a compelling and credible case. Additionally, understanding the principles of the opposing party can be advantageous. Conducting further research can illuminate the organization’s values, their previous negotiation strategies, and which terms hold more significance for them versus those they might be flexible about.

Key Areas to Research About the Other Negotiator

 Consider exploring the following aspects about the person you’re negotiating with:

• What is the nature of their business?
• How do their competitors operate?
• What is their company’s stock performance like?
• What professional associations are they affiliated with?
• Who are the mutual contacts you both have?
• What are their hobbies or interests?

Taking the earlier example of asking your boss for a raise, what are some things you may want to research about him/her and the company?