Latz Negotiation Institute: 11/29/2016
Do you know how Walmart has historically negotiated with new potential suppliers? I haven’t personally been involved in these negotiations, but a number of folks have shared their experiences with me.
I’ve been told that Walmart first sends out a Request for Proposal (RFP) to new potential suppliers asking for bids. Walmart then invites the bidders to send their representatives to Bentonville, Arkansas – where Walmart is based – and puts them in adjoining conference rooms.
Latz Negotiation Institute: 10/24/2016
As my law school colleague Barack Obama enters the final few months of his presidency, I've been thinking about legacies. As a father, I've crafted a short list of negotiation tips, with the hope that my kids might benefit from the most crucial lessons I have learned in the last 25 years of studying and teaching negotiation.
1. Negotiate strategically – not instinctively
It’s never too early to start learning about what the negotiation research and experts recommend. Read it. Practice doing it (on your Mom and me, right?).
Latz Negotiation Institute: 09/26/2016
“Take it or leave it,” he says. “This is a deal-breaker.” But it’s early on, and you’re not ready to make that decision. How should you react?
Consider these four steps to evaluate the ultimatum and formulate your strategic response.
1. Evaluate its legitimacy
Is it real or a bluff? Consider:
• Counterpart intelligence. Did you learn in talking with those who have previously negotiated with your counterpart and searching online that they tend to bluff?