Negotiation is considered as a compromise to settle an argument in a mental and emotional game. Much of the result is dependent on the emotional strengths and vulnerabilities of the parties and, of course, their skills at capitalizing on these strengths and vulnerabilities.
There are several key vulnerabilities to be aware of in negotiation.
“Let us never negotiate out of fear” — famously declared John F. Kennedy in his 1961 Inaugural Address — “but let us never fear to negotiate.” These are words by which to live — or die. There is an old Chinese proverb that says that more sick people are killed by their own fear than are killed by the disease. There are all sorts of fears that weaken your position; fear of missing out, fear of messing up, fear of looking stupid and fear of being out negotiated are some of the more common fears that make you vulnerable to the skills of an experienced negotiator.
Greed and fear often dominate negotiation. Greed for the maximum return. As settlement approaches, fear and greed combine to make both sides believe that if they pushed just a little bit harder they might get a bit more. They no longer ask whether they could live with the deal themselves, but whether the other side might be pushed further. This is a natural sign of lack of self-confidence. Most people have some degree of greed and it is important to be aware of this in yourself and manage it, and also be aware of it in your opponent and capitalize on it.
In an era of globalization, transnational law practice, and internationalization of domestic law, students ignore cultural norms at their peril because ignorance of these norms can derail negotiations. The task for educators, therefore, is to provide negotiation students with a culturally inclusive framework for understanding ethical decision-making. If you don’t know what you are doing then it is hard to do a good job. There are two areas where ignorance can create weakness in negotiation. The first is lack of knowledge of negotiation techniques and strategies. The second is in poor pre-negotiation research.
If a buyer has a strict and impending deadline and they are having trouble finding solutions then they are vulnerable to a seller with an appropriate solution. On the other hand, if a seller has a time sensitive solution and the buyer has lots of options then the closer the deadline comes the greater the vulnerability of the seller.
If your need to make the deal is stronger than the other party’s need to make the deal then you are in a vulnerable position, as soon as the other party becomes aware of this situation. For this reason skilled negotiators develop the ability to disguise their true level of need.
Vulnerability in negotiation is something to protect yourself against and also something to capitalise on if it is the other party who is vulnerable. Look for the signs of vulnerability and become skilled at all the techniques that allow you to protect yourself from it and also to capitalise on it.
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Tags: Negotiation, Vulnerability