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Negotiating the sweet spot: personal negotiations

Part 1 of 3
Published on January 31, 2021   19 min

A selection of talks on Strategy

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0:00
I'm Leigh Thompson, professor at the Kellogg School of Management. Today we're going to be talking about negotiating the sweet spot, the art of leaving nothing on the table.
0:14
Let's think about workplace, personal, and virtual negotiations. What do we know? In business which I study a lot, managers often fail to reach win-win solutions. In our research, we found that over 80 percent of corporate executives and CEOs leave money on the table. 40 percent of people fail to realize when they are in complete agreement with someone.
0:45
Let's talk about negotiation in our personal life. One study found that married couples reach worse outcomes and quit sooner than ad hoc couples. Another research investigation of newlyweds discovered they had lower aspirations and reach lower joint gains than complete strangers. Friends avoid negotiation altogether and settle for less than complete strangers. None of this sounds like good news.
1:19
In our studies of virtual negotiations, you can imagine the picture doesn't get any rosier. People negotiating virtually have a greater likelihood of impasse, they're much less likely to reach win-win outcomes, they trust one another less, there tends to be more negative and confrontational behavior, and occasionally less moral behavior.

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