Lecture Notes: Negotiation Process by Deepak Malhotra

Introduction

Presenter: Deepak Malhotra
- Professor of Negotiation at Harvard Business School
- Author of "Negotiating the Impossible" and co-author of "Negotiation Genius"
Focus: Key insights, principles, and tactics for improving negotiation outcomes
Current Topic: Stages of the Negotiating Process

Distinction between Substance and Process:
- Substance: Deal terms, offers, counter-offers
- Process: Steps to reach the end goal of the negotiation
Emphasis on understanding and managing the process before substance

Clarity on Process
- Essential for every negotiation
- Involves understanding how to navigate the negotiation
- Key questions include:
  - Duration of the deal
  - Factors affecting smooth progress or potential slowdowns
  - Involved parties necessary for success
Commitment to Process
- Beyond clarity, seek assurances of adherence to the agreed process
- Types of commitment:
  - Assurance (verbal promise)
  - Handshake
  - Written or contractual commitment
- Importance: Prevents disadvantageous changes mid-negotiation
Changing the Process
- Highest level of negotiation
- Opportunity to alter the process to better suit your needs
- Examples:
  - Adjusting timelines (e.g., from six months to three or nine months)
  - Modifying involved parties
- Influence is often proportional to leverage

View negotiation process as an integral part of negotiation responsibilities
Aim to achieve all three levels where possible:
- Clarity
- Commitment
- Process change
Leverage enhances ability to modify negotiation process

Understanding and managing the negotiation process can significantly impact negotiation outcomes
Aim to go beyond minimal requirements by actively shaping the process
Success in negotiation often hinges on process management

Good luck!