“Anchoring” Tactic in Negotiations

Description

This Skill Bit explains that anchoring is a powerful negotiation tactic where the initial offer or standpoint sets the tone and influences the course of discussions. Mastering this tactic involves understanding its psychological impact, assessing the risks, and considering ethical implications. Effectively using anchoring can help negotiators gain an advantage, but it requires careful strategy to avoid potential pitfalls and maintain fair negotiations.

Duration approx. 4 Min.

Tier: advanced