Hang tight while we fetch the video data and transcripts. This only takes a moment.
Connecting to YouTube player…
Fetching transcript data…
We’ll display the transcript, summary, and all view options as soon as everything loads.
Next steps
Loading transcript tools…
Bargaining Stage of the Negotiation Process | Management Courses - Mike Clayton | YouTubeToText
YouTube Transcript: Bargaining Stage of the Negotiation Process
Skip watching entire videos - get the full transcript, search for keywords, and copy with one click.
Share:
Video Transcript
Video Summary
Summary
Core Theme
Negotiation's bargaining stage is about constructively resolving potential conflict by exploring positions, identifying common ground and sticking points, and systematically building agreement through offers, counteroffers, and concessions, guided by a sound process and open communication.
Mind Map
Click to expand
Click to explore the full interactive mind map • Zoom, pan, and navigate
negotiation is conflict with a good
intent and mediated by a sound process
in this video I want to talk about the
core the bargaining stage of a
negotiation the point where you and the
other parties get together and craft an
agreement it's the first part of the
bargaining stage which starts
immediately following the opening of
course is to explore the positions of
the parties each of you will take it in
turns to articulate your position what
you want to achieve and your desires
your fears and as much as you're
prepared to share about with the context
when the negotiation so that you can
understand one another's positions what
you're doing is looking for two things
firstly there are points of overlap
overlapping desires
overlapping needs overlapping concerns
to bring the parties together and
sometimes there will be some easy wins
from these overlapping needs and desires
aside from this common ground the other
thing you're looking for is sticking
points the things that you can identify
early are going to be tricky not so that
you could scare yourselves about how
difficult the negotiation is going to be
but so you can log those points and know
that they're going to come up and deal
with them in a structured logical and
once you understand each other's
positions you know where the common
ground lies you know where the sticking
points are likely to be you can plan the
process of negotiation in greater detail
with an agenda you can start to make
progress and I suggest you focus
initially on the common ground and make
progress on the easy things it is easier
to build agreement based on an agreement
than it is to build agreement based on a
disagreement so start off with the
common ground and structure as much of
an agreement as you can based on that
and then you can start to work on the
issues the hot topics the sticking
points don't get discouraged by problems
that you encounter as you go my best tip
is to ask questions the more you can ask
questions of one another genuine
inquiring questions the more likely you
are to uncover and the depths beneath
the positions the intent the needs the
real desires and find creative options
to solve them at each point where you
can agree something with your agreeing a
step in a negotiation or your agreeing
to disagree vide enta fide a sticking
point you both recognize needs to be
resolved summarize summarizes you go and
make notes this constant series of
summaries of things you're agreeing on
will show progress and will be
motivating to both parties when you
receive an offer from the other party
whether it's for the whole agreement or
for a part of the agreement ask yourself
how does it sound does it sound too good
because if it does there is a
possibility it is too good to be true
is a possibility that they may have
misspoken in which case don't try to
take advantage of it because they'll
only change their mind later on and
you'll get into a pickle it may be that
you've misunderstood it may be that
there is some conditions attached to
what sounds like a good offer that you
need to better understand before you can
evaluate it but what if the offer you
get doesn't sound good enough we'll
remember it's only an offer it's time
for you to make a counteroffer or a
request for a concession and when you're
ready to make counter offers there are
two principal ways that you can make
them the first is the if you then we
formulation if you were to do this if
you were to accept that if you were to
commit something then we would be able
to do accept commit that and the second
formulation is if we were to do this off
of that accept this then would you
accept that do that commit something else
the way that I phrased them as a
question makes them sound more like an
inquiry than a proposal and it enables
you both to explore the counteroffer and
explore the parameters around it it
comes across as a lot less pushy and a
lot more collaborative than making the
offer saying we'll do this and we want
you to do that or we want you to do this
and if you do as a concession we'll do
this that approach can very quickly
break rapport and deadlock and
negotiation the more your negotiation is
predicated around a series of questions
so that when the answer emerges it's one
that has agreement of both parties the
better you'll be thinking about
concessions you should be going into a
negotiation having prepared a list of
concessions that you can ask for and a
list of concessions that you can offer
that's not to say that other things want
occur to you and your team during the
negotiation but having that list means
you are ready for that bargaining that
will take place the series of offers and counteroffers
when you're asked for a concession
always make your first response a
defense not an outright rejection of the
suggestion but some acknowledgment that
it's a difficult task and that you may
not be able to offer all of it and that
you're going to need to think of it the
reason is because if you make
concessions too easily it leaves the
other party thinking oh that was easy I
should have asked for more and that
leaves them uncomfortable uncertain and
ultimately less trusting of you likewise
if you're asking for a concession don't
expect the other party to readily say
yes you can have that because they would
be foolish to do so the cardinal rule
however is only make a concession when
you get something of equal value to you
in return and as requests for
concessions continue my recommendation
is that you should make each concession
smaller than the one before that way you
will stop the negotiation from spiraling
out of control
ideally he
session should be no more than half the
value of the one before that way you can
anticipate easily where the end of the
concession process will end up for you
another tip is to look for concessions
that you can make which have a
relatively low cost to you but a highly
value to the other party
these will seem like a good deal to them
and for you there's nothing much in it
remember that if you are a seller for
example then the price you pay for
components for product is considerably
less than the buyer will need to pay if
you have access to ready funds then the
time value of money may mean the getting paid
paid
early is worth more to the other party
than it is to you
but as each concession is agreed by all
the parties make a note of it make a
note of it conspicuously as if to say
I've recorded this concession we've got
an agreement now I'm ready to move on
and my preferred approach is to actually
say this is what I have recorded and
read out your record and make sure
everyone around the table agrees that
there and then and is able to write down
exactly the same thing a whiteboard is a
great way of recording that or having an
independent note-taker that both parties
can trust finally what if you get stuck
because you will from time to time well
first of all
take a deep breath and stay resourceful
maybe even take a timeout and have a
break keep focused on the main goal and
keep making offers try out different things
things
I'll ask more questions learn more about
the other party possibly even share a
little bit more about yourself it's
usually new information and new
perspectives that allow a breakthrough
questions give both but sometimes moving
the negotiation to a different venue can
unlock alternative perspectives so take
a timeout and reconvene somewhere else
and my final tip if you get stuck is to
return to the common ground remind
people where that common ground is and
how far you've got up to the point where
you've got stuck to give them confidence
that you already make some serious
progress and that goodwill will enable
the negotiation to move on the
bargaining stage of a negotiation is
where you are in acting what could be a
conflict situation with respect and
discipline and process if you stay
confident if you stay respectful if you
stay alert and you prepare to take
breaks when you get stuck then you will
make progress and you will reach and green
green
please give us a thumbs up if you liked
this video there's loads more great
management course content to come so
please subscribe to the channel and hit
the belts you don't miss any of it I
look forward to seeing you in the next
Click on any text or timestamp to jump to that moment in the video
Share:
Most transcripts ready in under 5 seconds
One-Click Copy125+ LanguagesSearch ContentJump to Timestamps
Paste YouTube URL
Enter any YouTube video link to get the full transcript
Transcript Extraction Form
Most transcripts ready in under 5 seconds
Get Our Chrome Extension
Get transcripts instantly without leaving YouTube. Install our Chrome extension for one-click access to any video's transcript directly on the watch page.
