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The Milton Steinbach Professor at the Yale School of Management, who cofounded Honest Tea as a side gig, combines logic and empathy in a strategy that undercuts power-driven negotiating tactics. In this sense, all the parties to the deal have a legitimate claim to an equal share of the negotiation pie. Nalebuff illustrates this concept with an easily followed example: a pizzeria will give Alice and Bob a slice pizza if they can agree how to split it. He splits the six additional slices in half. This gives Alice a total of seven slices her BATNA of four slices plus her half of the six slices in the negotiation pie and Bob gets five slices his BATNA of two slices plus his half of six slices in the negotiation pie. It will help you make arguments that persuade others by identifying inconsistencies in their approach. Nalebuff tracks this negotiating approach back 2, years to a case described in the Babylonian Talmud, the basis for Jewish law. In it, two people appear in court holding a garment. One claims the whole garment; the other claims half of the garment. The court awards the former claimant three-quarters of the garment and the latter one-quarter of the garment. How does this align with the pie approach? As logical as this sounds, there are nuances involved and difficulties in determining the size of the pie that make splitting it far more complex than divvying up a pizza. The parties got over this hurdle by agreeing that Coke would first buy a minority stake in Honest Tea in , and then, after three years, have an option to buy the rest. But how much would Coke pay in three years? Only by coming together could we create a pie. In other words, they split the value they jointly created. Coke, which acquired Honest Tea in , this spring announced plans to phase out the brand from its beverage portfolio by the end of the year. One of the highlights of Split the Pie is the degree of scrutiny and rigor that Nalebuff has devoted to developing the approach. But if there is one sticking point, it seems to be the ability to convince all parties in a negotiation to adhere to its dictates, especially parties who believe that they have the more powerful position. Although Nalebuff strives mightily to equip readers to make a convincing argument for splitting the pie, his own experience shows that is likely to be easier said than done. He then wrote to Seth implying that I had ruined the hopes and dreams for Seth, his family, and all their future generations. Tetley also tried to buy Honest Tea. Nalebuff obviously enjoys getting some payback for being on the receiving end of these hardball tactics, but it is a lucky thing that Honest Tea was in play and Coke was in the wings. Sign up now to get our top insights on business strategy and management trends, delivered straight to your inbox twice a week. Rivalries between nations are reshaping the global chip industry. Executives in every sector should pay attention, says technology policy expert Gregory C. All rights reserved. Please see www. Reviews and mentions of publications, products, or services do not constitute endorsement or recommendation for purchase. No reproduction is permitted in whole or part without written permission of PwC. Photograph by Say-Cheese. The pie framework will change the way you approach negotiations in business and life. He also blogs at Reading, Writing re: Management. Taking Advantage of the Kinder, Gentler Takeover. Mutual respect. In her new book, Freelancers Union founder Sara Horowitz urges people to rely less on government and more on a powerful cooperative spirit. The Favoritism Test. Learn to avoid the pitfalls of rewarding sycophants in the workplace. Sign up No, thanks. Get the newsletter. Email address Sign up. The rise of the eco-friendly consumer During the pandemic, people have become more sensitive to the environmental impact of their shopping decisions—and companies are responding. These fundamental guidelines, drawn from experience, can help you reshape your organization to fit your business strategy. Neuroscience research is revealing the social nature of the high-performance workplace. Sign up for newsletters Sign up for the digital issue. All topics.

A kinder, gentler deal

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A smarter way to split the pie by Barry Nalebuff and Adam Brandenburger. For decades, negotiators have been working out agreements by focusing on interests, not positions. But the messy problem of how to share the gains created by deals has remained unresolved—until now. The pie most people have in their heads, however, is the total value available to be split. Because of this, they argue over the wrong numbers and issues, taking positions that they think are reasonable but that are in fact self-interested. Once the pie is properly understood, the allocation rule is simple: The parties in a negotiation have an equal claim on the pie, so it should be divided evenly. This is true regardless of what they can accomplish on their own, because both are equally needed to create the gains. This principle can be applied in a variety of increasingly complicated real-world scenarios, which the authors walk readers through in this article. Negotiation is stressful. A great deal is at stake: money, opportunity, time, relationships, reputations. Often that brings out the worst in people as they attempt to take advantage of the other side or try to look tough. Negotiation strategies. Rethinking Negotiation. From the Magazine November—December Read more on Negotiation strategies or related topics Mergers and acquisitions , Negotiating skills , Interpersonal skills and Interpersonal communication.

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