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Effective Negotiation Training Can Illustrate That Failing Can Be Better Than Winning
People are not particularly fond of losing. Everybody really likes a success and it is important for us all to be on the winning side. In fact, it is vital for us to be on the winning side that research tells us that normally we have a pretty an interesting method to overcoming possible threats.
In an area of study called Prospect Theory, Kahneman and Tversky investigated the likely anomalies and contradictions in human attitude. They identified that research subjects when presented an alternative prepared in one way might display cautious behaviour but when offered fundamentally the same solution formulated in a different way the same research subjects might exhibit risk seeking methods.
A key result of the research performed by Kahneman and Tversky is that they found that people's attitudes towards threats related to possible benefits are often very different from their attitudes when it comes to risks associated with potential deficits.
For instance, when subjects are presented an option between getting $1000 with certainty or having a 50% chance for getting $2500, they may well choose the guaranteed $1000 rather than the uncertain chance 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 found that the same people when presented with a definite loss of $1000 compared to a 50% possibility of no loss or a definite loss of $2500 do often choose the risky option. This is called risk seeking behaviour.
What it implies for you in terms of your business negotiation or negotiation training is that it is really wise to tell your counterparts what they bear to lose if they do not move the way that you are recommending. It is always best if you notify your counterparts what they stand to gain by shifting in your direction but the strength of your argument will likely be improved if you could add to the advantages the particular things that they will lose out on if they do not shift in your direction.
This kind of loss framing is most powerful when it is coupled with the Scarcity principle of influence that states that we assign more value to those things which are less available. We should thereby concentrate on those things that are uniquely relevant to our own suggestions and in addition to pointing out the benefits associated with moving in our direction we should always also point out the specific, unique things that our counterpart may stand to forfeit if they do not move in our direction.
Making use of negotiation skills such as loss framing to your advantage is one way which you could use the concept of losing to assist you to succeed.
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