Decision Making

"King Lear, Act I, Scene I" by Edwin Austin Abbey (1902) In the play King Lear by Shakespeare, the king, now elderly, decides to divide his kingdom among his three daughters based on each one's demonstration of affection. Goneril and Regan flatter him. Cordelia, the most loyal daughter, responds with sincerity. Her frankness provokes the father's wrath, and he disowns her. When Kent, his loyal advisor, tries to warn him, he is also banished. This scene offers many lessons app

Negotiation can be and has been defined in various ways. A definition that I quite like is from Leigh Thompson, a professor at the Kellogg School of Management at Northwestern University: "An interpersonal decision-making process necessary whenever we cannot achieve our goals alone." Before, during, and after a negotiation process, several decisions need to be made: from values, deadlines, and the team that will negotiate, to how to react to unforeseen events, how much to b

Among the many decisions a negotiator needs to make, one of the most important is whether or not to make the first offer. To have a basis for making a good decision in this regard, it is necessary to understand the anchoring bias. Our brain gives disproportionate weight to the first information it receives. As a result, our judgment becomes anchored in the information, impressions, and estimates we receive. This effect is called the anchoring bias. In a negotiation, when your

Lessons from Roger Fisher, Daniel Shapiro and William Ury. Our emotions influence us both positively and negatively. They provoke thoughts, physiological changes and push us to act. Emotions often influence our speech, actions, and decisions without us realizing it. “Don’t make promises when you are happy; don’t argue when you’re angry; do not make decisions when you're sad,” says popular wisdom. We cannot avoid emotions or ignore them. Analyzing each emotion as it arises i

Some insights to enhance comprehension and provide guidance on addressing this significant matter. In 2004, the U.S. Supreme Court heard Cheney v. U.S. District Court for D.C. The central issue in this case was whether or not the then US vice president, Dick Cheney, had an obligation to provide information about the task force he led on energy sector regulation. It turns out that one of the Supreme Court justices, Antonin Scalia, was Cheney's golf partner. An environmental gr

Several decisions, both big and small, are made during a negotiation process. We determine the scope, values, and information to share. We also decided on table seating, language, and who would be our representative. We frequently question whether we are on the right track and making decisions that are not only effective but also ethical. Walking the ethical path is always important. We must remember that our reputation as negotiators and professionals is built and strengthen