As director of the renowned Wharton Executive Negotiation Workshop, Professor G. Richard Shell has taught thousands of business leaders, administrators, and other professionals how to survive and thrive in the sometimes rough-and-tumble world of negotiation. His systematic, step- by-step approach comes to life in this book, which combines lively storytelling, proven tactics, and reliable insights gleaned from the latest negotiation research. 

The new revised and updated edition includes:
• A brand-new "Negotiation I.Q." test designed by Shell and used by executives at the Wharton workshop that reveals each reader’s unique strengths and weaknesses as a negotiator
• A concise manual on how to avoid the perils and pitfalls of online negotiations involving e-mail and instant messaging
• A detailed look at how gender and cultural differences can derail negotiations, and advice for putting talks back on track

It is always hard work to prepare for a tough negotiation, but the global nature of business makes it even more complex. This book has been written for global business executives.  It includes examples from real-life negotiations all over the world.  There are stories from China, India, Southeast Asia, Africa and the United States. It gives readers from many different cultures a “real life” feel for the negotiation process and how the cultural backgrounds of the people around the table impact on the process. Most of the countries in the world operate based on what the author calls a “relationship culture”. Extensive warm-up periods are required before bargaining starts, during which people can get to know and trust one another. However countries in North America, Australia and northern Europe are much more “transactional” in the way they approach things. Negotiators from these countries like to get down to business more quickly and start talking about terms and conditions.

The author discusses the three major causes that lead to deals falling apart and makes suggestions for overcoming process stumbling blocks. The most obvious is because the interests of the parties are not aligned. The second reason for failed negotiations is mismanagement of the bargaining process. This includes things such as moving too quickly or too slowly, inviting the wrong people to meetings, using e-mail instead of face-to-face discussions and failing to nail down real commitments at the end. The best negotiators are very careful about how the process works, thinking carefully about how to optimize each move.  The third reason for failed deals is human psychology. The people involved do not like each other, do not understand each other, or misinterpret what the other person’s motives are. The “people part” of a negotiation is critical. It is very easy to insult people or get them angry and resentful. And nothing will kill a deal faster than mistrust between the parties involved.

Most negotiation books focus on tactics – good guy/bad guy routines, ultimatums, different methods of asking questions, and so on. This book focuses almost entirely on psychology. It looks at what makes the negotiation process work and how a few psychological principles can explain a great deal of what is happening. There are deep patterns in the process that transcend culture, gender and even history.

This book covers the six essential considerations for most negotiations: the stylistic differences between the people negotiating, the goals of each side, the standards and norms that will govern what a “fair” price is, the prospects for a future relationship, the underlying interests that are bringing the parties together, and the issue of who needs the deal more (in other words, the leverage differences). 

Anyone can be a good negotiator if he or she studies the process and practices a lot. Great negotiators tend to be people who not only know a lot about the process, but also love to study human nature under crisis conditions. This book provides the process framework as well as looking at the specific factors that impact on a negotiation.