ART OF NEGOTIATIONS
Negotiation happens all around us, almost all of the time.
What makes highly successful negotiators different from everyone else is their ability to combine a deep understanding of the negotiation process with an ability to think, plan and act strategically when they negotiate across a broad range of contexts and situations. Not only will developing this ability allow you to negotiate better deals and agreements, it will also enable you to manage teams more efficiently, interact with colleagues, customers and clients more effectively, and resolve both internal and external conflict more powerfully.
This training course builds on the latest analytical, strategic and practical negotiation thinking and explores both highly competitive bargaining behaviors, as well as a collaborative problem solving strategic approach. In this course, delegates will develop a deep understanding of the negotiation process and develop new practical skills that will allow to plan, manage and execute every negotiation in a highly effective way.
After the successful completion of this comprehensive training course, participants will be able to:
- Understand the importance of negotiation, in various business interactions, including sales and business development.
- Gain insight into their own strengths and weaknesses as negotiators and to acquire personalized feedback to effect improvement
- Learn how to negotiate effective agreements that identify, create and capture value
- Develop a range of practical negotiation skills and strategies that can be used in a variety of situations
- Gain confidence through being able to plan, execute and deliver effective negotiation outcomes
- Learn how to identify and enhance leverage, and communicate effectively in cross-cultural environments
- Develop an understanding of the underlying psychological drivers of negotiation behaviors and how to harness these to influence others.
- Group Live and Instructor-led Classroom Track
- PowerPoint presentation, with pointed breaks to stimulate discussion by the participants.
- Participative Classroom Activities, including:
- Ice-Breakers and Energizers
- Behavioral Role Plays
- Focused Video Playback
- Management Case Studies
- Sales and Business Development Managers, Account managers, and related Sales professionals.
- Business Leaders, Functional Heads, Line Managers and Supervisors having subject interface.
- Corporate Practitioners, including specialists, consultants, managers, supervisors and employees with some related experience who wish to advance their functional expertise and competence.
- Pre-Assessment to gauge current level of conceptual understanding and customize training delivery.
- Session-based Practical Exercises, Reflective Quiz and Peer-group Notes Sharing and Evaluation
- Final Course Assessment, in a test environment, capturing course retention and learning.
COURSE STRUCTURE AND AGENDA
INTRODUCTION TO NEGOTIATIONS
- Understanding negotiations
- Characteristics of a negotiation situation
- Key principles of effective negotiation and deal making skills
- The core components of effective negotiation behavior
- Hard bargaining and problem solving – focusing your skill development
- Managing the inherent tensions present in every negotiation
- The stages and phases of a negotiation
- Role play
ADVANCED NEGOTIATION STRATEGIES
- Steps to Build a Deal
- Negotiation Strategies versus tactics
- Effective approaches to hard bargaining
- Alternatives, walk-away point, bargaining range & objective setting
- Constructing Opening Offers, Winners Curse, and Norms of Fairness
- How to create value, strategies and tactics of integrative negotiation
- Effective value generating deal making strategies
- Underlying interests, high value/low value trades, unbundle issues and multiple offers
- Practice exercise
- Case study
GETTING THE BIGGER PIE
- Aiming to build better deals
- Identifying and building leverage
- Enforcement mechanisms – what is the purpose of a contractual agreement?
- Formal dispute resolution process: Negotiation, mediation, arbitration & litigation
- Developing mediation skills to build better deals
- Negotiating with difficult people – getting past ‘No’.
- The ethics of leverage – appropriate negotiation behavior
- Role play
PREPARATION AND COMMUNICATION
- Getting ready to implement the strategy: The planning process
- Preparing and managing negotiation teams
- Communicating to maximize influence
- Indirect forms of communication – body language
- The power of listening skills in negotiation
- Understanding power and communication in a cross-cultural context
- Strategic considerations in cross-cultural negotiations
- Case study
PRACTICING THE POWER OF INFLUENCE
- What Body Language Signals Are Critical?
- Understanding the importance of influence
- Reciprocation, scarcity and authority
- Consistency, liking and social proof
- Bringing it all together – negotiating better deals
- Traits of the advanced negotiator
- What to take away from this course
- Practical Exercise