The Negotiation Matrix

Have you ever wondered how to become a better negotiator? In Ibericus, we use tools on a daily basis that improve our relationship with our clients and coworkers.

The Negotiation Matrix is a useful tool that helps us choose the best negotiation strategy in each situation. This tool, developed by Roy Lewicki and Alexander Hiam in their book called "Mastering Business Negotiation", is based on two main factors: the importance of the outcome and the importance of the relationship in the negotiation.

It is best to use the Negotiation Matrix before you enter negotiations with another person, because, by analyzing your priorities, you can choose the negotiation strategy that is best suited to your particular needs.

Lewicki and Hiam's Negotiation Matrix

Lewicki and Hiam's Negotiation Matrix

There are five negotiation styles depending on the level of the two factors:

1.   Avoiding

When both the outcome and the relationship have low importance, it is not worth getting into a conflict. It is commonly used in emotionally charged situations as a first tactic. So when the counterpart calms down, you can steer them into another negotiation style. It is a way to postpone to win the negotation by driving the situation into a better place.

2.   Accommodating

In this case, the relationship has high importance but the outcome has low priority. You are giving up on short term gains, as your goal is to enhance and preserve the relationhsip, by building trust, so losing in the short term, will help you win in the long term. It is also helpful in situations where you need to delay a bigger negotiation until you have more tools that allow you to support it.

3.   Competing

Opposite as accomodating, the outcome has high importance but the relationship has low importance. This is called Win-Lose situation, often used when both parties have short term goals, and when the counterpart person has no special meaning to you. Having clear goals before getting into competitive negotiations will help you focus on what you need to get out of the situation. Writing down your goals is a good practice, as well as thinking of concessions that you are willing to give up to get what you want.

4.   Collaborating

Opposite as avoiding, collaboration strategy happens when both the outcome and the relationship have high importance. This Win-Win strategy allows both parties to work together to achieve a large reward, by building trust, rapport and create bonds. Reputation plays a big part in how the collaboration efforts will be. Creative problem solving is often used in these win-win situations.

5.   Compromise

Located in the middle of the chart, compromise is often seen when parties cannot find ways to collaborate fully, but when they still want to meet their goals and preserve the relationship. This negotiation style uses strategies from the other four styles. Goal prioritization becomes relevant, as well as understanding the other party’s key interests and concerns. This will show your fairness and empathy, and that you are willing to work to achieve a win for everyone.

9 Tips to Be a Great Leader

Good leaders do things well. Great leaders teach and inspire others to do things well.

1. Face the facts, no matter how complicated they may be.

Great leaders identify problems early and take actions to solve them. Identifying the problems earlier gives leaders extra time to find solutions and solve problems faster than their competitors.

2. Take accountability seriously.

Great leaders hold people accountable to do what they should be doing and completing the tasks on their plate. If goals aren’t being met, they take the opportunity to discuss, gather insight, and make the adjustments necessary for the team members and the company to win.

3. Look for bright spots.

Great leaders identify those key points in the business process that can be replicated afterwards within the team in order to get long term successful achievements.

4. Develop and prioritize winning moves.

Great leaders focus on several key strategies, which they discuss and debate with their executive teams before deciding on which ones will bring the company closer to reaching its goals.

5. Scrap what’s not working.

Great leaders realize when something isn’t working, and are flexible to modify the strategy to set a better and achievable goal.

6. Focus on the best and brightest.

A great leader will recognize the strategies that will motivate and inspire their teams to push toward success.

7. Plan successful mid-term goals.

Business is a marathon, not a sprint. Focusing on mid-term goals, helps leaders to determine short-term weekly achievable goals.

8. Encourage consistency but not complacency.

When performance is consistent, great leaders take that opportunity to focus on what’s needed to take it to the next level.

9. Lead adjustment meetings.

Adjustment meetings are useful for teams to review where they are and also to discuss plans that are already or about to get off-track and provide solutions and ideas for improvement.

Remember: Great leaders teach others how to lead. 

2018 New Year's resolutions

As we approach the end of 2017, I would like you to invite to take a moment to think about your achievements this year. 

Make a list with five things you are proud of. This list will be the starting point for your objectives and dreams for next year. 

If you already reached leadership in 2017, what is going to be your next move and steps for 2018? Make a list of five macro-objetives and then, as we mentioned before, slice it into smaller steps. Use a timeline and numbers. Metrics for your goals will help you to keep in mind what is the level you need to reach in order to be successful, and that will help you to achieve your objetives. If you are still a promoting leader, then you know what your next step is.

Persistency and consistency are key elements to grow, and for those, you need effort, understanding, focus, and the most important; positive attitude in the workplace. 

Happy New Year 2018!

Lead by example

‘Be a reflection of what you’d like to see in others.’

 

One of the main keys to be a successful leader is to do what you say others they need to do. For example, if you say everybody needs to be in the office at 5.30 pm, do not show up later. Consistency and coherence between your words and actions are the pillars of your credibility within the team and the organization. 

 

Your colleagues will trust you when they see that you stick to your own rules, and even more, you believe on your credo and values, and you act according to it. Once you achieve success, your team members will become your followers, as they will desire to be like you. If you are successful with your own strategy, your followers will try to copy it in order to achieve success as well, and you will become their example.

 

There is nothing better that lead by example.

How to focus on your goals

  • Know what you want: In order to accomplish any purpose, you need to have clear what you want. Set the goal, and write it on a piece of paper, visualize it, and try to quantify it.
  • Set a deadline for your goal: How many days will you work to make it happen? Having a timeline creates the necessary ‘positive stress’ to activate yourself to find solutions. 
  • Plan a strategy: How are you going to achieve your goal? This is the way to get from point A (where you currently are) to point B (where you want to be). A good exercise is to break the process into smaller ones, where in each you have micro-goals. This will have an impact on productivity and motivation.
  • Keep in mind the magic number. Be conscious and visualize your numerical goal.  
  • Review the process. Where am I? Track your achievements in a piece of paper. Have a general view on where you are, in regards with your goal and timeline.  
  • Learn from the process. What did I do well and what could be done differently and better? Learning from mistakes helps to refine your strategy, and to grow professionally. 
  • Be persistent. Maintain your eager to reach your goal, no matter what the circumstances are. Go for it.