Proper Negotiation Training Can Show You That Defeat Can Be Better Than Winning
People are not specially fond of losing. Everyone really likes a success and it is essential for us all to be on the winning side. In fact, it is vital for us to be on the winning side that research demonstrates that typically we have an incredibly a fascinating method to overcoming likely dangers.
In an area of study called Prospect Theory, Kahneman and Tversky investigated the likely flaws and contradictions in individual conduct. They identified that research individuals when given an alternative prepared in one way might display cautious conduct but when given fundamentally the same solution formulated in another way the same research subjects might show risk seeking methods.
A key result of the study performed by Kahneman and Tversky is that they identified that people's behaviour towards threats related to prospective benefits are often very different from their attitudes when it comes to risks connected with probable deficits.
For instance, when people are presented an option between getting $1000 with certainty or having a 50% chance for getting $2500, they will often 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 completely reasonable attitude that is referred to as risk aversion.
But Kahneman and Tversky also identified that the same individuals when presented with a definite loss of $1000 as opposed to a 50% possibility of no loss or a definite loss of $2500 do often choose the risky option. This is referred to as 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 wise to tell your counterparts what they bear to do away with when they do not move the way that you are recommending. It is definitely wise to notify your counterparts what they stand to acquire by shifting in your direction but the power of your reason will likely be improved if you could increase the advantages the particular things that they will lose out on if they do not shift in your direction.
This type of loss framing is strongest when it is coupled with the Scarcity concept of influence that states that we assign more value to those things which are significantly less obtainable. We should thereby concentrate on those things that are specifically relevant to our own suggestions and in addition to pointing out the benefits associated with moving in our direction we should always also explain the particular, unique things that our counterpart may stand to forfeit when they do not move in our direction.
Making use of negotiation skills such as loss framing to your advantage is a sure way which you could apply the concept of losing to support you to succeed.
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