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    Gaining Leverage in negotiation

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    a.Define the terms power and leverage and what is the most essential source of bargaining strategy in any negotiation process.
    b.Define French and Raven's Five Sources of Power (1956) and provide an example of how each is effectively used in a negotiating situation.

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    Solution Preview

    a.Define the terms power and leverage and what is the most essential source of bargaining strategy in any negotiation process.

    Power is the ability of a party involved in a negotiation to exert influence over another party. Leverage is the ability of a party to influence another party to move towards its negotiating position. A party that possesses power in a negotiation has the most essential source of bargaining strategy. Power provides the ability to control the negotiation while leverage provides the capability to influence a negotiation.

    b.Define French and Raven's Five Sources of Power (1956) and provide an example of how each is effectively used in a negotiating situation.

    Legitimate Power - Power comes from holding a position like President or Chief Executive Officer (CEO). This type of power is unstable because all power can be lost through the loss ...

    Solution Summary

    The solution discusses ways in which you can gain leverage in negotiation. The second part of the question discusses and defines French and Raven's Five Sources of Power.

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