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Successful Negotiation thru Relationship Capital (RC)

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Standard of Trust, A Relationship Capital Benefit Corporation
Standard of Trust, A Relationship Capital Benefit Corporation

This document discusses the importance of relationship capital (RC) in successful negotiation. It defines negotiation and principled negotiation, which is based on trust between parties. RC measures a negotiator's reputation through qualities like honesty, accountability, responsibility, respect, trustworthiness and support. Having high RC enhances a negotiator's reputation and leads to higher quality agreements and profits through negotiation. RC can be developed by ensuring one's negotiating behavior demonstrates these trust-building qualities.

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Successful Negotiation thru Relationship Capital (RC) By Rob Peters Standard of Trust, llc www.StandardofTrust.com
Agenda Negotiation in the 21 st Century Definition of Negotiation The Principled Negotiator The Negotiation Matrix Principled Negotiation is based on TRUST Relationship Capital (RC) Measures a Negotiators Reputation
A Definition of Negotiation Parties who share the fact that they both have conflicting and common interests Willingness to come together and discuss A set of positions and underlying needs Trade of what they each can control Attempt to find an agreement A result which is beneficial and acceptable to all.
The Principled Negotiator Strive for commitment to agreement In business it is about the negotiation Focus on the underlying requirements Look at all the options Try to pin point the areas of commonality Listen
The Negotiation Matrix I Win-You Lose Win-Win I Lose-You Win Lose-Lose
Principled Negotiation is based on Trust authority of your word and the credibility of your actions. Agreements are difficult in the absence of mutual respect and reliability. A.T Kearney' showed that trust in high-level business alliances is of particular significance. A direct correlation exists between trust and profit (Quality of Agreements).
Performance is Determined by Quality of Relationships
If Trust is Important to Negotiation, How do you Develop it? Questions to Ask about You and Your Organizations negotiating behavior? Are You Honest? Are You Accountable? Are You Responsible? Are You Respectful? Are You Supportive? Are You Trustworthy?
How do You Measure Relationships?
Trust = Relationship Capital (RC) Honesty Accountability Responsibility Respect Trustworthy Supportive
Would it be reasonable to look at these things in accounting terms? Asset Liability Transaction 1: I commit to sharing my data report during negotiation of business alliance Transaction 2: I deliver the data report to potential alliance partner negotiator 1 2 Respect Accountability Honesty Support
Reputation = Relationship Capital (RC) Today, a select group of Negotiators are earning relationship capital (RC) by learning & mastering industry standards and having their commitments and perceptions scored. This score is relationship capital (RC) that negotiators are using to enhance their reputation one interaction at a time. Norm Myers, Founder RNIA.org
Thank You Rob Peters Founder (M) 708-819-8360 www.StandardofTrust.com

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Successful Negotiation thru Relationship Capital (RC)

  • 1. Successful Negotiation thru Relationship Capital (RC) By Rob Peters Standard of Trust, llc www.StandardofTrust.com
  • 2. Agenda Negotiation in the 21 st Century Definition of Negotiation The Principled Negotiator The Negotiation Matrix Principled Negotiation is based on TRUST Relationship Capital (RC) Measures a Negotiators Reputation
  • 3. A Definition of Negotiation Parties who share the fact that they both have conflicting and common interests Willingness to come together and discuss A set of positions and underlying needs Trade of what they each can control Attempt to find an agreement A result which is beneficial and acceptable to all.
  • 4. The Principled Negotiator Strive for commitment to agreement In business it is about the negotiation Focus on the underlying requirements Look at all the options Try to pin point the areas of commonality Listen
  • 5. The Negotiation Matrix I Win-You Lose Win-Win I Lose-You Win Lose-Lose
  • 6. Principled Negotiation is based on Trust authority of your word and the credibility of your actions. Agreements are difficult in the absence of mutual respect and reliability. A.T Kearney' showed that trust in high-level business alliances is of particular significance. A direct correlation exists between trust and profit (Quality of Agreements).
  • 7. Performance is Determined by Quality of Relationships
  • 8. If Trust is Important to Negotiation, How do you Develop it? Questions to Ask about You and Your Organizations negotiating behavior? Are You Honest? Are You Accountable? Are You Responsible? Are You Respectful? Are You Supportive? Are You Trustworthy?
  • 9. How do You Measure Relationships?
  • 10. Trust = Relationship Capital (RC) Honesty Accountability Responsibility Respect Trustworthy Supportive
  • 11. Would it be reasonable to look at these things in accounting terms? Asset Liability Transaction 1: I commit to sharing my data report during negotiation of business alliance Transaction 2: I deliver the data report to potential alliance partner negotiator 1 2 Respect Accountability Honesty Support
  • 12. Reputation = Relationship Capital (RC) Today, a select group of Negotiators are earning relationship capital (RC) by learning & mastering industry standards and having their commitments and perceptions scored. This score is relationship capital (RC) that negotiators are using to enhance their reputation one interaction at a time. Norm Myers, Founder RNIA.org
  • 13. Thank You Rob Peters Founder (M) 708-819-8360 www.StandardofTrust.com