Entrepreneurs, whose job is to transform ideas into new products or services for which there is a market, pride themselves on creating disruption and driving innovation. But they often fumble key interactions because they don't know how to handle the negotiation challenges that almost always arise.Entrepreneurship typically entails a series of interactions between founders, partners, potential partners, investors, and others at various stages of the entrepreneurial process -from the "seed" stage when the business is just an idea to the "exit" stage when the entrepreneur sells or departs. We have scrutinized the full range of entrepreneurial negotiations seeking to identify the most common negotiation mistakes that entrepreneurs make, and in this article we describe eight of them. We discuss how they can learn to prevent these mistakesespecially through proper preparation -and which strategies they can deploy to overcome the mistakes they do make.
Artificial intelligence (AI), machine learning (ML), affective computing, and big‐data techniques are improving the ways that humans negotiate and learn to negotiate. These technologies, long deployed in industry and academic research, are now being adopted for educational use. We describe several systems that help human negotiators evaluate and learn from role‐play simulations as well as applications that help human instructors teach negotiators at the individual, team, and organizational levels. AI can enable the personalization of negotiation instruction, taking into consideration factors such as culture and bias. These tools will enable improvements not only in the teaching of negotiation, but also in teaching humans how to program and collaborate with technology‐based negotiation systems, including avatars and computer‐controlled negotiation agents. These advances will provide theoretical and practical insights, require serious consideration of ethical issues, and revolutionize the way we practice and teach negotiation.
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