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Proper Negotiation Training Can Prove That Failing Can Be More Effective Than Winning
People are not particularly fond of losing. Everyone likes a success and it is essential for us all to be on the winning side. In fact, it is so important for us to be on the winning side that research signifies that normally we have a pretty a fascinating method to overcoming possible threats.
In an area of research called Prospect Theory, Kahneman and Tversky looked into the likely anomalies and contradictions in individual conduct. They identified that research individuals when presented a choice prepared in one way might present cautious behaviour but when given basically the same solution formulated in another way the same research subjects might exhibit risk seeking behaviour.
A key result of the analysis performed by Kahneman and Tversky is that they found that people's behaviour towards challenges related to possible benefits can be very different from their behaviour when it comes to risks associated with probable deficits.
For instance, when people are presented a choice between getting $1000 with certainty or getting a 50% chance for getting $2500, they may well select the guaranteed $1000 rather than the uncertain possibility of getting $2500 even though the analytical expectation of the uncertain option is $2500. This is a perfectly reasonable mindset that is referred to as risk aversion.
But Kahneman and Tversky also found that the same individuals when challenged with a definite loss of $1000 compared to a 50% possibility of no loss or a certain loss of $2500 do often select the risky option. This is called risk seeking behaviour.
Exactly what it implies for you in terms of your business negotiation or negotiation training is the fact that it is really a good idea to tell your counterparts the things they bear to lose when they do not move the way that you are recommending. It is definitely best if you tell your counterparts what they stand to achieve by shifting in your direction but the strength of your reason will likely be improved if you could increase the advantages the specific things that they will fall short on if they do not shift in your direction.
This kind of loss framing is strongest when it is coupled with the Scarcity concept of influence that states that we associate more worth to those things which are less obtainable. We should thereby concentrate on those things that are specifically relevant to our own arguments and in addition to pointing out the benefits associated with going in our direction we should always also point out the particular, unique things that our counterpart may stand to forfeit when they do not move in our direction.
Using negotiation skills such as loss framing to your advantage is an excellent method which you could use the concept of losing to support you to succeed.
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