Countless books and articles offer advice on avoiding missteps at the
bargaining table. But some of the costliest mistakes take place before
negotiators sit down to discuss the substance of the deal. That’s
because they often take for granted that if they bring a lot of value to
the table and have sufficient leverage, they’ll be able to strike a
great deal. While negotiating from a position of strength is certainly
important, many other factors influence where each party ends up. This
article presents four factors that can have a tremendous impact on
negotiation outcomes and provides guidance on what negotiators should be
doing before either side starts worrying about offers, counteroffers,
and bargaining tactics. Harvard Business School professor Deepak
Malhotra advises negotiators to resolve process before substance, set
expectations, map out the negotiation space, and control the frame. By
following those steps, managers position themselves for success at the
bargaining table. [ABSTRACT
FROM AUTHOR]