Approaching Negotiation as Art: Some Striking Results of Students Negotiating in the Real World

Abstract

This paper reports the striking results of a class exercise that required students enrolled in two MBA Negotiation courses to negotiate something in the real world. 35 students who negotiated something of value to themselves saved (or gained) a total of almost one million dollars. 10 students who negotiated something on behalf of their current employers saved (or gained) over $42 million. Most of these savings were attributed to what was learned in the class. The paper also reports the types of strategies students used most often in their negotiations, and the non-monetary benefits they reported having achieved as a result of the exercise. The results and implications of these finding are discussed from the perspective of negotiation as art.