December 2015
Article
Harvard Business Review

Control the Negotiation Before It Begins

Format:Print

Abstract

Countless books and articles offer advice on avoiding missteps at the bargaining table. But some of the costliest mistakes take place before negotiators sit down to discuss the substance of the deal. That's because they often take for granted that if they bring a lot of value to the table and have sufficient leverage, they'll be able to strike a great deal. While negotiating from a position of strength is certainly important, many other factors influence where each party ends up. This article presents four factors that can have a tremendous impact on negotiation outcomes and provides guidance on what negotiators should be doing before either side starts worrying about offers, counteroffers, and bargaining tactics. Harvard Business School professor Deepak Malhotra advises negotiators to resolve process before substance, set expectations, map out the negotiation space, and control the frame. By following those steps, managers position themselves for success at the bargaining table.