Summary of The art of negotiation: Six must-have strategies | LBS
The video titled "The art of negotiation: Six must-have strategies" from LBS discusses the importance of influence and persuasion in negotiations. The presenter emphasizes the need to influence people to commit to a course of action rather than just comply. The six principles of influence, based on Robert Cialdini's work, include reciprocity, commitment and consistency, social proof, authority, liking, and scarcity. Examples and studies are provided to demonstrate how these principles work in various scenarios.
Key Points
- Principles of influence: reciprocity, commitment and consistency, social proof, authority, liking, and scarcity
- strategies to prevent negative effects of influence principles
- Understanding motivations and biases in decision-making
- Importance of critical thinking and awareness in negotiation
- Utilizing relationships, framing information, and non-verbal cues in persuasion
- Impact of scarcity on decision-making and perceived value
- Building rapport through small gestures like buying coffee or doing favors
Notable Quotes
— 27:20 — « Those kinds of like-sort of like things can come together and work in a situation. »
— 46:29 — « This is the power of scarcity. »
— 51:21 — « at time but can I please give you my favorite example diamonds so pretty, timeless classics Beauty fire love brilliance women tend to like them »
— 53:10 — « because of scarcity yeah let me just end with this final idea here when we think about influence and persuasion Ive talked a lot about these ideas there are other things that folk that fall into how it is that we can influence and persuade people »
— 53:35 — « think also about how youre creating that relationship how youre framing the information that youre conveying because that has a huge impact on how it is that you influence and persuade people »
Category
Business and Finance