Power transforms people into bold negotiators
Even though possessing power is significant for many reasons, there are two major ways in which power benefits negotiators. The first advantage of power is that it bolsters people, allowing them to be more secure, hopeful and proactive. Power heightens the likelihood that individuals consider negotiating in the first place because of an increased feelings of entitlement and certainty that a positive outcome can be reached. People with power also set greater aspiration prices, make bolder first moves and obtain more value from their challengers. This is crucial because the size of the first move and which party pushes first or second in a negotiation both control the quality of the result. Undeniably, expert claim that those who have more power are most likely to move for the first proposal in a negotiation and likely end up with better deals.
The four elements of negotiator power.
The first element of power is the alternatives. The supremacy of one’s alternative, or best alternative to a negotiated agreement (BATNA), is most likely the most important source of power.
The second element of power is information. Having information that is pertinent to the negotiation is critical.
The third element of power is status. The extent to which a negotiator is respected by others.
The fourth element of power is social capital. The more social or professional influence a negotiator possesses, the more likely it is that she or he is projected as being more influential.
- Explain in detail why these are critical when it comes to negotiating from a position of power.
- In your explanation, provide a situation where these elements were applied and what was the outcome. The situation can be from personal experience or from history.
- Provide four different sources – one for each element, for your paper.
- Paper should be 3-4 pages, not counting title and reference pages, and should follow APA formatting rules.
