Successful Negotiations © 2009 All rights reserved: www.businessenglishpod.com 12 If there’s going to be any agreement, it’s necessary for one of us to make a concession. The only way to reach a compromise is to make a concession. The negotiation was finally successful when the other party backed down and compromised on a key issue. From these examples, we notice a couple things: First, we usually say to make a concession and to reach a compromise. A compromise is a kind of agreement, and a concession is something we do to reach it. Note, however, that in the last example compromise is used as a verb. In this case, to compromise basically means to make a concession. (For this reason, sometimes we also say to make a compromise with a similar meaning as to make a concession.) Now, it’s your turn to practice. First, we’ll review some of the verb collocations we just learned. In a moment, you’ll hear a series of sentences with a verb blanked out or replaced with a beep. Repeat the whole sentence, supplying the missing verb in the correct form. For example, if you hear: The only way forward is if one of us <beep> a concession. You will say, The only way forward is if one of us makes a concession. Let’s give it a try. Cue 1: By trading concessions, we will eventually <beep> a compromise. Learner 1: Cue 2: I think we can <beep> our strong brand name as a bargaining chip. Learner2: Cue 3: In last week’s negotiation, I <beep> a concession on price. Learner 3: Cue 4: I think that an overemphasis on price is keeping us from <beep> an agreement. Learner 4: Answer 1: By trading concessions, we will eventually reach a compromise. Answer 2: I think we can use our strong brand name as a bargaining chip. Answer 3: In last week’s negotiation, I made a concession on price. Answer 4: I think that an overemphasis on price is keeping us from reaching an agreement. business englishpod © 2009 All rights reserved: www.businessenglishpod.com 13 Next we’ll use the same method to review key vocabulary. In a moment you’ll hear another series of cues. As before, one word is blanked out with a beep. Repeat each sentence, putting in the missing word. Cue 1: In our discussions, there seems to be an <beep> on price. Learner 1: Cue 2: It’s too early in the negotiation to throw away <beep> chips. Learner 2: Cue 3: We always have to keep in mind our long-term <beep> of building a good relationship. Learner 3: Cue 4: There’s a variety of deal <beep> that we can use to make buying our company more attractive. Learner 4: Answer 1: In our discussions, there seems to be an overemphasis on price. Answer 2: It’s too early in the negotiation to throw away bargaining chips. Answer 3: We always have to keep in mind our long-term strategy of building a good relationship. Answer 4: There’s a variety of deal sweeteners that we can use to make buying our company more attractive. That concludes the first in this two-part series on negotiation strategy. In this episode, we’ve learned both a variety of useful language and a range of helpful skills. Thanks for listening, and see you next time! Successful Negotiations © 2009 All rights reserved: www.businessenglishpod.com 14 Language Review A. Useful Vocabulary Review useful vocabulary by filling in the blanks with words from the box. tactical bargaining overemphasizing bargaining bottom alternative 1. If you ask me, they are ___________ rapid delivery to the detriment of quality. 2. Since he was very flexible on warranty period, he used this as a ______________ chip to get concessions on delivery time. 3. _______________ concerns include discount and delivery; using this client to establish a relationship in this new market is more of a ________________ concern. 4. Before you can determine your ______________ line, you need to put a value on your best ______________. B. Collocations Supply the missing collocations in the sentences below to review important negotiation vocabulary. 1. If there’s going to be any agreement, it’s necessary for one of us to ___________ a concession. 2. The only way to ____________ a compromise is to ___________ concessions. 3. To ________________ an agreement, we had to use delivery time as a bargaining chip. 4. Let’s try to think of ways to make our offer more attractive by ________________ the deal. 5. We need to _____________ a better offer on the table. Study Strategy Consider a negotiation that you have participated in. It can be anything from a formal business negotiation to an informal personal discussion. Analyze it in the terms that we have learned in this episode: Was there an overemphasis on price? What did you give away as bargaining chips? What was your BATNA and your bottom line? How did you reach a compromise? business englishpod © 2009 All rights reserved: www.businessenglishpod.com 15 Answers Listening Questions 1) Brian says that a top mistake people make is to overemphasize price. More generally, he says they focus too much on tactical questions without first developing a coherent strategy. 2) Your best alternative to a negotiated agreement (BATNA) is what you will do if you don’t reach an agreement during the negotiation. Your BATNA is what is already available, so your bottom line should be better than your BATNA. 3) Brian says that win-win has become a bit of a cliché. However, the basic meaning of the word is that, under normal circumstances, both parties must benefit in order to come to a deal. In this sense, all successful negotiations are “win-win.” Language Review A. Useful Vocabulary 1. If you ask me, they are overemphasizing rapid delivery to the detriment of quality. 2. Since he was very flexible on warranty period, he used this as a bargaining chip to get concessions on delivery time. 3. tactical concerns include discount and delivery; using this client to establish a relationship in this new market is more of a strategic concern. 4. Before you can determine your bottom line, you need to put a value on your best alternative. B. Collocations 1. If there’s going to be any agreement, it’s necessary for one of us to make a concession. 2. The only way to reach a compromise is to swap/trade/make concessions. 3. To reach/get to an agreement, we had to use delivery time as a bargaining chip. 4. Let’s try to think of ways to make our offer more attractive by sweetening the deal. 5. We need to put a better offer on the table. Links (click a link to open the exercise) Online Activities – Flash Quizzes (click above to open) [...]... agreement it’s necessary to blockage Learner 1: Cue 2: Ideally, negotiation is a process of joint value Learner 2: Cue 3: We have to try to outside the box on this Learner 3: Cue 4: Let’s try to think of ways to more value to customers Learner 4: Answer 1: To reach an agreement it’s necessary to overcome blockage Answer 2: Ideally, negotiation is a process of maximizing joint... materialize Learner 1: Cue 2: It’s not at all clear to me where she is from Learner 2: Cue 3: Fierce competition can be both a and a curse Learner 3: Cue 4: More and more companies are recognizing the great value in environmental protection Learner 4: Cue 5: Corporate responsibility is an area of great concern to many companies these days Learner 5: © 20 09 All rights reserved:.. .Successful Negotiations Now, it’s your turn to practice First, we’ll review some of the verb collocations that we just learned: In a moment, you’ll hear a series of sentences with a verb blanked out or replaced... in environmental protection Learner 4: Cue 5: Corporate responsibility is an area of great concern to many companies these days Learner 5: © 20 09 All rights reserved: www.businessenglishpod.com 22 . Successful Negotiations © 20 09 All rights reserved: www.businessenglishpod.com 12 If there’s going to be any agreement, it’s necessary. price. Learner 1: Cue 2: It’s too early in the negotiation to throw away <beep> chips. Learner 2: Cue 3: We always have to keep in mind our long-term <beep> of building. two -part series on negotiation strategy. In this episode, we’ve learned both a variety of useful language and a range of helpful skills. Thanks for listening, and see you next time! Successful