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Negotiation, Persuasion and Decision Making Skills
In business, the ability to negotiate well is not merely an important skill - it is essential to success.
All negotiations – whether with clients, strategic partners, merger candidates, union representatives, key employees, investors, colleagues, vendors, or service providers – require the ability to create and capture value through cooperation while fostering strong working relationships with others. Focusing on one at the expense of the other inhibits the potential for gain in any partnership. Like most other skills, the ability to perform in negotiations is determined by some combination of natural ability, experience and formal training. Yet most managers have received little or no negotiation training.
This course provides an intensive, one day program to negotiation analysis and practice. The course uses negotiation simulations, case studies and group discussion to highlight practical applications of the issues discussed. By the end of the course, participants will have a conceptual framework which will help them turn their own negotiating experience into expertise. In addition, participants will be able to transform the learning to more effectively manage client relations, avoiding systematic biases in making decisions and to more aptly navigate your position in a multi-party, multi-issue situation.
This course will be beneficial to management whose work involves negotiating with subordinates, peers, superiors and vendors. Those who seek to better understand the strengths and weaknesses of their own negotiation style and strategic habits, improve their own negotiation performance and enhance the quality of their negotiated settlements will benefit from this course.
Objectives
• Improve one’s position in a negotiation, as well as the agreement terms
• Know how to protect, if not enhance, relationships with negotiation counterparts
• Manage the negotiation process more effectively
• Be able to prepare for any negotiation
• Understand how to respond to opposition in order to move a negotiation forward
• Have an improved sense of when to walk away
• Gain a more sophisticated understanding of the importance of strategic flexibility in negotiations
• Recognise the importance of contingency agreements in the creation of more profitable and sustainable outcomes
• Understand the psychological dynamics of various negotiation tactics
• Have experience applying the framework to simulated contexts that mirror negotiations encountered in participants’ real-life business contexts
1 Day Negotiation Program
Time Agenda
9.30am - 12.00pm
Advance Integrative Bargaining
• What is win-win
• Value creation and claiming value
• Post settlement settlements
• Time pressure
• Influence
12.00pm - 1.30pm
Decision Making and Power of Influence
• Decision Making Biases
• Influence tactics
• Heuristics
1.30pm - 2.30pm
Lunch
2.30pm – 5.30pm
Multi party multi issue negotiation
• Debrief
• Analyzing power framework in multi party situations
• Influence via coalition
• Influence without authority