Question 12 abcde

Question 12: Which one of the following is the most common mistake made by negotiators in the Package step of negotiations?
A Being competitive
B Under valuing our concessions
C Over valuing our concessions
D Giving Elk Steaks
E Failing to address the other side’s issues

Well done, A Being competitive is the correct answer! When we’re attempting to repackage we’re trying to address any inhibitions or concerns the other side may have. Most people are reticent to reveal these, for fear the other side will use that knowledge against them. If you are competitive in any way you simply reinforce that belief and encourage them to keep their cards close to their chests. If you are co-operative in your approach; ask lots of questions, regularly summarise their point of view, perspectives, concerns and issues, and if you empathise and show concern then they are far more likely to respond and tell you about their problems or needs. If you know and understand their problems and needs you are then in a position to try and address them.

Good negotiators LISTEN and build relationships.

What about the other answers?

B Under valuing our concessions – This is quite common. Whenever we hear someone say “I don’t have problem with that” then we witness an undervalued Elk Steak being given. As negotiators you should value your concessions not in terms of what they cost you – but what they’re worth to the other side, if they’re worth a lot, you should be asking for a lot in return.

C Over valuing concessions – All this will do is provoke them. You’ll hear them say things like “are you serious” or “are you completely barking mad”. Neither is a good sign. Again you value your concession two ways, what they cost you together with what you will get in return and what they’re worth to the other side.

D Giving Elk Steaks – As in B this usually occurs when you under value or don’t value at all the things you offer and give the other side. Negotiators should be trading – Not Elk Steaking! (Don't know what an elk steak is? Sorry you'll need to come on our course to learn that)

E Failing to address the other side’s issues – If you do this the chances of you getting a deal come down to good luck rather than good management. You should be in control of the process, not a victim of it.

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