Negotiation Genius

Becoming a Negotiation Genius

What is a negotiation genius? Let s start with the simple observation that you often know a negotiation genius when you see one. You can see genius in the way a person thinks about, prepares for, and executes negotiation strategy. You can see genius in the way a person manages to completely turn around a seemingly hopeless negotiation situation. You can see genius in the way a person manages to negotiate successful deals consistently while still maintaining her integrity and strengthening her relationships and her reputation. And, in all likelihood, you know who the negotiation geniuses are in your organization. This book will share with you their secrets. Consider the following stories, in which negotiators faced great obstacles, only to overcome them to achieve remarkable levels of success. But we will not reveal how they did it yet. Instead, we will revisit these stories and many others like them in the chapters that follow, as we share with you the strategies and insights you need to negotiate like a genius in all aspects of life.

A Fight Over Exclusivity

Representatives of a Fortune 500 company had been negotiating the purchase of a new product ingredient from a small European supplier. The parties had agreed to a price of $18 per pound for a million pounds of product per year, but a conflict arose over exclusivity terms. The supplier would not agree to sell the ingredient exclusively to the U.S. firm, and the U.S. firm was unwilling to invest in producing a new product if competitors would have access to one of its key ingredients. This issue appeared to be a deal breaker. The U.S. negotiators were both frustrated and surprised by the small European firm s reticence on the issue of exclusivity; they believed their offer was not only fair, but generous. Eventually, they decided to sweeten the deal with guaranteed minimum orders and a willingness to pay more per pound. They were shocked when the European firm still

Deepak Malhotra is an associate professor at the Harvard Business School, where he teaches negotiation in the MBA program, the Advanced Management Program, and the Owner/President Management Program, in addition to providing negotiation consulting and training for businesses worldwide.

Max H. Bazerman is the Jesse Isidor Straus Professor of Business Administration at the Harvard Business School and the author of Negotiating Rationally and Judgment in Managerial Decision Making.

An absolutely brilliant negotiation framework and tool kit of negotiation strategies, compellingly illustrated from extensive real and complex situations. It s the most comprehensive, wise, practical book on the subject I ve ever seen. Stephen R. Covey, author of The 7 Habits of Highly Effective Peopleand The 8th Habit: From Effectiveness to Greatness

Few skills in life are as valuable as negotiating and we can all become better at it. Professors Malhotra and Bazerman show us how, combining insightful analysis with clear, practical, and ingenious recommendations. William Ury, coauthor of Getting to Yes and author of The Power of a Positive No

Shortly after I sat down with Negotiation Genius, I reached for pen and pad and began to make notes. Thirty-five years in the space with hundreds of major negotiations, and this work still has something to teach me. It s the rare book that I would recommend to people at any experience level. With its engaging blend of real-world stories, intelligent tools, and emphasis on ethics and integrity, it is must reading for all who wish to excel. Brian McGrath, Global Vice President, Chief Procurement Officer, Johnson & Johnson Consumer Companies

Malhotra and Bazerman are offering a heck of a deal: for a handful of dollars, you can buy a book that invites you into a classroom conversation at the Harvard Business School an experience that would normally cost fistfuls. This is a classic win-win bargain. No wonder they write so well about negotiation genius. David Gergen, former U.S. presidential adviser; Director, Center for Public Leadership, John F. Kennedy School of Government

Invaluable. Whether in business, politics, or the nonprofit sector, leaders must rely on the power to persuade, and Malhotra and Bazerman unlock the secrets of how to do so strategically, ethically, and successfully. Bill Shore, Founder and Executive Director, Share Our Strength

Whether your passion is sports,