To guess how the other side will act in a negotiation, what should you find out about their past dealings and company ways?

To effectively anticipate how the other side will act in a negotiation, it is crucial to gather comprehensive information about their past dealings and their company's internal ways. Regarding past dealings, one should investigate their historical negotiation styles and tactics. This includes observing whether they typically employ aggressive, positional bargaining (where each side argues for extreme positions), or a more collaborative, principled negotiation approach (focusing on mutual interests). Understanding their past concession patterns is vital; this means identifying how readily they made concessions, which are offerings or compromises given to facilitate an agreement. For instance, do they make small, incremental concessions, or do they hold firm until the final stages? It is also important to identify their walk-away points, also known as red lines, which are the non-negotiable boundaries or minimum acceptable terms they have demonstrated in previous negotiations. Researching their adherence to previous agreements, their focus on long-term relationships versus short-term gains, and their willingness to set or follow precedents provides insight into their reliability and strategic priorities. Finally, identifying the key decision-makers involved in past negotiations and understanding their individual influence and authority levels helps predict the internal approval process. Regarding company ways, understanding the company's decision-making process and hierarchy is paramount. This involves knowing who holds final authority, whether decisions are made top-down by senior management, through consensus among a group, or delegated to individual negotiators. This directly impacts the speed and flexibility of their responses during a negotiation. Their risk tolerance, which is the level of risk they are willing to accept for potential gains, should be assessed; a risk-averse company might prioritize certainty and proven methods, while a risk-tolerant one might be open to innovative or unconventional terms. Information on their corporate values and ethical standards, such as their reputation for integrity, transparency, or aggressive competition, helps predict their behavioral boundaries. Furthermore, understanding their overarching strategic goals, such as market expansion, cost reduction, or technological innovation, reveals their core motivations and potential areas of trade-off. Observing their internal communication and alignment can also indicate how unified their negotiation stance will be. By gathering and analyzing these elements, one can predict their likely opening positions, flexibility on specific terms, potential reactions to proposals, and underlying priorities, allowing for a more informed and tailored negotiation strategy.