The Objective Value of the 4 Subjective Values

In negotiations, the concept of value often takes center stage. Traditionally, this value is viewed in objective terms – the tangible benefits and outcomes that one or both parties gain from the negotiation. However, a deeper dive into the art of negotiation reveals a more nuanced perspective, one that recognizes the importance of subjective values. This is the perceived value that each party derives from the negotiation process, which can significantly influence the overall outcome and future relationships.

Subjective value in negotiation is multifaceted, encompassing roughly four distinct types: instrumental, self, process, and relationship. Each of these elements plays a significant role in shaping the negotiation experience and its perceived value.

Instrumental Subjective Value

Instrumental subjective value refers to the perception of the tangible outcomes of the negotiation. It’s not just about the final agreement, but how each party individually perceives the benefits they’ve gained. To enhance this, it’s crucial to understand the other party’s needs and interests. This understanding allows you to craft proposals that not only meet your objectives but also align with the other party’s goals, thereby increasing the perceived value of the outcome. This approach, known as interest-based negotiation, encourages parties to explore underlying needs and desires, leading to creative solutions that can maximize mutual gains. Additionally, employing objective standards and benchmarks can help ensure perceived fairness, further enhancing the instrumental subjective value.

Self Subjective Value

Self subjective value is about the negotiator’s self-perception during and after the negotiation. It involves feelings of competence, pride, and the sense of behaving appropriately. To foster this, avoid dwelling on your victories and instead, acknowledge! the good points made by the other party. This approach not only maintains the other party’s pride but also creates an environment where both parties can express their arguments without fear of immediate contradiction plus it allows the other party to feel competent and respected. Furthermore, adhering to the norms of negotiation and respecting the hierarchical dynamics can help negotiators feel they are behaving appropriately.

Process Subjective Value

Process subjective value pertains to the perceived fairness and efficiency of the negotiation process. Active listening plays a significant role here. By expressing genuine curiosity and attentiveness about the other party’s perspective, you can make them feel heard and valued. Additionally, giving the other party a sense of control over the process can enhance their perception of fairness. Striking a carefully considered balance between not agreeing too early and not quibbling for too long will also help maintain a process that feels neither too easy nor too difficult.

Process subjective value is about the perceived fairness and efficiency of the negotiation process. It’s about feeling heard and treated fairly, and that the process is neither too easy nor too difficult.

Relationship Subjective Value

Finally, relationship subjective value focuses on the impact of the negotiation onto the relationship between the parties. To foster relationship subjective value, negotiators could focus on establishing rapport early on and finding common ground. Expressing genuine curiosity about the other party can help build a positive impression. Moreover, focusing on similarities can foster trust and a good relationship. Lastly, making the negotiation process enjoyable can increase the likelihood of future negotiations.

While these four types of subjective value are distinct, they are also interconnected. A negotiation typically is not just a one-time transaction but a complex process that can shape relationships and future interactions. Therefore, it’s essential to consider all these aspects while trying to strike a balance between them.

Recognizing and fostering subjective value in negotiations will lead to more satisfying outcomes and stronger relationships. It’s not just about the objective gains but also about the perceived value of the process and its impact on the parties involved. By understanding and applying these principles, we transform the Art of Negotiation into a more rewarding, welcomed, and enriching experience plus we achieve the desired outcomes more easily and ensure a satisfying, fair, and relationship-enhancing negotiation process and a valuable contribution to the development of one’s own negotiator personality.

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