What is Leverage? Key Concepts in Negotiation

Leverage is a key concept in negotiation. So, what does it mean? I'll tell you.
Watching this video is worth 1 Management Courses CPD Point*.
(See below for more details)
This video is part of course module number 5.2.2
Program 5: Managerial Skillset
Course 2: Negotiation
Section 2: Key Concepts in Negotiation
Other videos about Key Concepts in Negotiation include:
. Core Principles of Negotiation • Core Principles of Neg...
. Five Basic Negotiating Strategies • Five Basic Negotiating...
. Scope for Agreement • Scope for Agreement - ...
. Four Primary Negotiating Behaviors • Four Primary Negotiati...
. Non-verbal Aspects of Negotiation • Non-verbal Aspects of ...
. Power at the Negotiating Table • Power at the Negotiati...
. Negotiation Goes Bad: 6 Types of Bad Behavior • Negotiation Goes Bad: ...
. Negotiation Acronyms: How Many do You Know? • Negotiation Acronyms: ...
Module 5.2.1 covers the Fundamental Model of Negotiation. Start with the introductory video:
. Fundamental Model of Negotiation - • Fundamental Model of N...
LESSON NOTES
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Leverage means the ability to apply a small force to move the other party a long way.
Traditionally leverage has been seen as a substantial negotiating advantage, like a monopoly position as a supplier, or a sole interested party, as a purchaser.
But this is too narrow a view
It can also lead to abuses that will damage the long-term relationship, once that advantage ceases to be present.
Leverage is really just a compelling advantage that can come from:
• Ability to persuade
• Strong objective case - based on value
Value can be based on:
• Your offer
• What they get as a result (better)
• Fairness / equity
RECOMMENDED EXERCISE
======================
1. When you are planning for your next negotiation, think carefully about the sources of leverage you have available to you (2 MC CPD Points)
2. Consider carefully how you will use your leverage in a way that has integrity and will deliver the best outcome for all parties (2 MC CPD Points)
DOWNLOADS
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Free Resources
CPD Tools - gum.co/MC-CPD
Paid resources
Management Courses Onboarding Kit - gum.co/MC-ObK ($3)
RECOMMENDED READING
=====================
Negotiate Wisely in Business and Technology (A basic introduction) geni.us/a2n1T6Y
Everything is Negotiable) (A basic introduction) geni.us/Ozwwr
Getting to Yes (the classic text) geni.us/U3CjduK
Getting Past No (the follow-up to Getting to Yes) geni.us/VQAd7
Bargaining for Advantage (another classic) geni.us/anBn
Negotiation Genius (Modern look at the negotiation mindset) geni.us/cBKKn3x
Never Split the Difference (red hot tips from ex-hostage negotiator) geni.us/YBSogJ
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#Negotiation #Leverage #ManagementTraining

[@BasicFilmmaker]

Great! 👍

[@ManagementCourses]

Thanks K! 🎬

[@wandabravdica7779]

your videos are very good and have a wide message thank you

[@ManagementCourses]

I appreciate that!

[@ManagementCourses]

Leverage is a simple idea - but one that every negotiator needs to understand.

[@ManagementCourses]

⛏

[@sonluu2870]

You try to give the video more brightness it will be great if you do

[@ManagementCourses]

Okay. Thank you. But the content...

[@kAY-yl5en]

People only want a fair option only when the other party has the upper hand. They will always take the unfair option when they have the upper hand

[@ManagementCourses]

They will - out of self-interest. But it won't always serve them. Buyer's remorse has a bite!

[@kAY-yl5en]

@@ManagementCourses hi, didn't know that you would respond. The vid was helpful, but I would like to learn more about leverage. Any books you recommend that aren't mainstream

[@ManagementCourses]

@@kAY-yl5en I don't know what books you see as 'mainstream', but there is a lot on leverage in what I consider the best modern book on negotiation: Never Split the Difference (red hot tips from ex-hostage negotiator, Chris Voss): geni.us/YBSogJ

[@ayackayack7962]

You try to give the video more brightness it will be great if you do

[@ManagementCourses]

Okay. I'm an educator first and a filmmaker second, but i'm doing my best.