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24 Institute of Leadership & Management Understanding my bargaining position Questions that can help you assess the strength of your bargaining position include: •• How important is my issue? •• Are there several issues? •• If so, what is their order of importance? •• What arguments support my case? •• Is my case strong enough for me to show little willingness to compromise? •• Am I willing to make concessions to get an early agreement? •• What counter-arguments to my arguments is my counterpart likely to make? If your counterpart needs you more than you need them, you have a good bargaining position. If you need them more than they need you, ask yourself how you can build your position. Neither party is likely to get everything they want, and you will probably need to make concessions or trade-offs to achieve a successful agreement. You will need to decide on your bargaining range. You will also need to plan your approach to the negotiation. •• Click on the buttons to find out the consequences of each approach. Approach Possible consequence Make high demands early – then make concessions Make low demands early on – then make concessions Make moderate demands early – then refuse to give concessions Copyright © The Institute of Leadership and Management 2015. These materials may not, in whole or part, be copied, reproduced, communicated, or otherwise distributed without the prior written permission of ILM.
25 Institute of Leadership & Management •• Task 10: My bargaining position Bearing in mind your objective, strategy for negotiation and priorities, describe below your BATNA, WATNA and WAP, as well as any compromises or concessions you could make to reach agreement. Type your answers below. My Best Alternative To a Negotiated Agreement is: My Worst Alternative To a Negotiated Agreement is: My Walk Away Point is: Compromises I could make are: 1 2 3 Concessions I could offer are: 1 2 3 Copyright © The Institute of Leadership and Management 2015. These materials may not, in whole or part, be copied, reproduced, communicated, or otherwise distributed without the prior written permission of ILM.
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