HBR's 10 Must Reads for Sales and Marketing Collection (5 Books)

Harvard Business Review

• Publisher: Harvard Business Review Press
• Year: 2020
• ISBN:
  9781633699366
• Topic: Commerce
• Subtopic: Marketing
• Index: Marketing

Stop pushing products. Start empowering your salespeople cultivating relationships with the right customers.

In today's economy, companies are fighting tooth and nail for their customers' attention. Hyper-informed buyers with more options are making purchasing decisions faster than ever. How can you optimize your marketing operations and sales teams and so your offerings can get through and rise to the top? HBR's 10 Must Reads for Sales and Marketing Collection offers the ideas and strategies to help you get there. Included in this set are HBR's 10 Must Reads on Sales, HBR's 10 Must Reads on Strategic Marketing, HBR's 10 Must Reads on Communication, HBR's 10 Must Reads on Negotiation, and HBR's 10 Must Reads on Public Speaking and Presenting. This compilation offers insights from world-class experts on the topics including enhancing the joint performance of sales and marketing; motivating your sales force; getting a clear view of your brand's strengths and weaknesses; setting the stage for a successful negotiation; and communicating with clarity and impact. It includes fifty articles selected by HBR's editors from renowned thought leaders such as Andris Zoltners, Theodore Levitt, and Deborah Tannen, and features the indispensable article "How to Give a Killer Presentation" by Chris Anderson. It's time to establish, sustain, and extend your next groundbreaking sales and marketing initiative. HBR's 10 Must Reads for Sales and Marketing Collection will lead you there.

HBR's 10 Must Reads paperback series is the definitive collection of books for new and experienced leaders alike. Leaders looking for the inspiration that big ideas provide, both to accelerate their own growth and that of their companies, should look no further. HBR's 10 Must Reads series focuses on the core topics that every ambitious manager needs to know: leadership, strategy, change, managing people, and managing yourself. Harvard Business Review has sorted through hundreds of articles and selected only the most essential reading on each topic. Each title includes timeless advice that will be relevant regardless of an ever?changing business environment.

On
Negotiation

HARVARD BUSINESS REVIEW PRESS

Boston, Massachusetts

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First eBook Edition: May 2019

ISBN: 9781633697751
eISBN: 9781633697768

Contents

Cover

Title Page

Copyright

Six Habits of Merely Effective Negotiators

by James K. Sebenius

Control the Negotiation Before It Begins

by Deepak Malhotra

Emotion and the Art of Negotiation

by Alison Wood Brooks

Breakthrough Bargaining

by Deborah M. Kolb and Judith Williams

15 Rules for Negotiating a Job Offer

by Deepak Malhotra

Getting to Sí, Ja, Oui, Hai, and Da

by Erin Meyer

Negotiating Without a Net: A Conversation with the NYPD’s Dominick J. Misino

by Diane L. Coutu

Deal Making 2.0: A Guide to Complex Negotiations

by David A. Lax and James K. Sebenius

How to Make the Other Side Play Fair

by Max H. Bazerman and Daniel Kahneman

Getting Past Yes: Negotiating as If Implementation Mattered

by Danny Ertel

When to Walk Away from a Deal

by Geoffrey Cullinan, Jean-Marc Le Roux, and Rolf-Magnus Weddigen

About the Contributors

Index

Six Habits of Merely Effective Negotiators

by James K. Sebenius

GLOBAL DEAL MAKERS did a staggering $3.3 trillion worth of M&A transactions in 1999—and that’s only a fraction of the capital that passed through negotiators’ hands that year. Behind the deal-driven headlines, executives endlessly negotiate with customers and suppliers, with large shareholders and creditors, with prospective joint venture and alliance partners, with people inside their companies and across national borders. Indeed, wherever parties with different interests and perceptions depend on each other for results, negotiation matters. Little wonder that Bob Davis, vice chairman of Terra Lycos, has said that companies “have to make deal making a core competency.”

Luckily, whether from schoolbooks or the school of hard knocks, most executives know the basics of negotiation; some are spectacularly adept. Yet high stakes and intense pressure can result in costly mistakes. Bad habits creep in, and experience can further ingrain those habits. Indeed, when I reflect on the thousands of negotiations I have participated in and studied over the years, I’m struck by how frequently even experienced negotiators leave money on the table, deadlock, damage relationships, or allow conflict to spiral. (For more on the rich theoretical understanding of negotiations developed by researchers over the past fifty years, see the sidebar “Academics Take a Seat at the Negotiating Table.”)

Academics Take a Seat at the Negotiating Table

PARALLELING THE GROWTH in real-world negotiation, several generations of researchers have deepened our understanding of the process. In the 1950s and 1960s, elements of hard (win-lose) bargaining were isolated and refined: how to set aggressive targets, start high, concede slowly, and employ threats, bluffs, and commitments to positions without triggering an impasse or escalation. By the early 1980s, with the win-win revolution popularized by the book Getting to Yes (by Roger Fisher, William Ury, and Bruce Patton), the focus shifted from battling over the division of the pie to the means of expanding it by uncovering and reconciling underlying interests. More sophisticated analysis in Howard Raiffa’s Art and Science of Negotiation soon transcended this simplistic “win-win versus win-lose” debate; the pie obviously had to be both expanded and divided. In The Manager as Negotiator (by David Lax and James Sebenius), new guidance emerged on productively managing the tension between the cooperative moves necessary to create value and the competitive moves involved in claiming it. As the 1990s progressed with work such as Negotiating Rationally (by Max Bazerman and Margaret Neale), the behavioral study of negotiation—describing how people actually negotiate—began to merge with the game theoretic approach, which prescribed how fully rational people should negotiate. This new synthesis—developing the best possible advice without assuming strictly rational behavior—is producing rich insights in negotiations ranging from simple two-party, one-shot, single-issue situations through complex coalitional dealings over multiple issues over time, where internal negotiations must be synchronized with external ones. Negotiation courses that explore these ideas have always been popular options at business schools, but reflecting the growing recognition of their importance, these courses are beginning to be required as part of MBA core programs at schools such as Harvard. Rather than a special skill for making major deals or resolving disputes, negotiation has become a way of life for effective executives.

There are as many specific reasons for bad outcomes in negotiations as there are individuals and deals. Yet broad classes of errors recur. In this article, I’ll explore those mistakes, comparing good negotiating practice with bad. But first, let’s take a closer look at the right negotiation problem that your approach must solve.

Solving the Right Negotiation Problem

In any negotiation, each side ultimately must choose between two options: accepting a deal or taking its best no-deal option—that is, the course of action it would take if the deal were not possible. As a negotiator, you seek to advance the full set of your interests by persuading the other side to say yes—and mean it—to a proposal that meets your interests better than your best no-deal option does. And why should the other side say yes? Because the deal meets its own interests better than its best no-deal option. So, while protecting your own choice, your negotiation problem is to understand and shape your counterpart’s perceived decision—deal versus no deal—so that the other side chooses in its own interest what you want. As Italian diplomat Daniele Vare said long ago about diplomacy, negotiation is “the art of letting them have your way.”

Idea in Brief

High stakes. Intense pressure. Careless mistakes. These can turn your key negotiations into disasters. Even seasoned negotiators bungle deals, leaving money on the table and damaging working relationships.

Why? During negotiations, six common mistakes can distract you from your real purpose: getting the other guy to choose what you want—for his own reasons.

Avoid negotiation pitfalls by mastering the art of letting the other guy have your way—everyone will win.

This approach may seem on the surface like a recipe for manipulation. But in fact, understanding your counterpart’s interests and shaping the decision so the other side agrees for its own reasons is the key to jointly creating and claiming sustainable value from a negotiation. Yet even experienced negotiators make six common mistakes that keep them from solving the right problem.

Idea in Practice

Negotiation Mistakes

Neglecting the other side’s problem. If you don’t understand the deal from the other side’s perspective, you can’t solve his problem or yours.

Example: A technology company that created a cheap, accurate way of detecting gas-tank leaks couldn’t sell its product. Why? EPA regulations permitted leaks of up to 1,500 gallons, while this new technology detected 8-ounce leaks. Fearing the device would spawn regulatory trouble, potential customer...