A critical aspect of successful negotiation is the art of principled concessions – the ability to induce changes in position from the other side using a persuasive, value-based rationale. Not only does this preserve credibility, but the other side feels good about exchanges made in this manner. We cover this principle in some depth during our negotiation seminars, walking attendees through the step-by-step practice of principled concessions.
But what exactly is a principled concession, as opposed to an unprincipled one?
The definition of a principled concession is: “A change in an offer made with a credible business rationale for that change.”