Winning Negotiations

Course Overview

Negotiation lies at the heart of all business procedures. Whether it is funding issues of a new project, resource allocation or smooth running of supply chain, effective negotiation is required in all situations. However, individuals hardly get training for it and lack the required negotiation skills that may cost business. It is vital to understand the importance of negotiation skills and techniques in order to generate positive outcomes.

An ongoing research study has found out that:
79% Negotiators were under prepared
50% Negotiators have no previous training in negotiation
63% Organizations do not have the best practices of negotiation
71% Organizations do not have a formal concession strategy planning
89% Organizations have no structured review process

This hands-on course is designed to enable the company and its employees to clear the hurdles and negotiate successfully. Effective negotiation includes understanding of issues by taking into account the perspectives of all the parties, generating alternative solutions and selecting the option that suits all. All parties should look for the solution that benefits them. Effective negotiation closes the gaps between parties and helps them to mutually reach the desired goal.

Course Objectives

After attending this course, participants will be able to:

  • Understand the basic concepts, key terms, and components of negotiation
  • Learn the relationship of personality type and different styles of negotiation
  • Understand the seven stage negotiation process
  • Practice newly acquired negotiation tactics specific to each stage of negotiation
  • Understand and adapt the negotiation style of the other party
  • Indulge in bargaining with confidence and use proper tactics to move the negotiation forward
  • Conclude agreements on terms and conditions
  • Document post-negotiation process

Course Content

  • What is negotiation, when and where is it required
  • Understanding key terms and components of negotiation
  • Identification of situation as one for negotiation
  • The seven stage negotiation process

Stage 1: Negotiation Preparation

  • Tactic 1: Assess your BATNA
  • Tactic 2: Assess objective of your opponent
  • Tactic 3: Have a control on setting
  • Tactic 4: Set objective criteria
  • Tactic 5: Note down the items to be negotiated
  • Tactic 6: Use time effectively

Stage 2: Developing Strategy

  • Tactic 7: Decide how “high” is high
  • Tactic 8: The good/bad guy tactic
  • Tactic 9: Control emotions
  • Tactic 10: The reciprocal buy-sell offer
  • Tactic 11: Use an “Expert Witness”
  • Tactic 12: Find common interests
  • Tactic 13: Set deadline
  • Tactic 14: Do not cover your weaknesses at all points

Stage 3: Exchange of Initial Offers

  • Tactic 15: Caucus
  • Tactic 16: Throwaway items
  • Tactic 17: Package items
  • Tactic 18: Make agreement as soon as possible
  • Tactic 19: Make first and best offer
  • Tactic 20: Posturing
  • Tactic 21: Avoid the “Winner’s Curse”

Stage 4: Making Counter Offers (the Give and Take)

  • Tactic 22: Suggest multiple options
  • Tactic 23: The “Win-Win” approach
  • Tactic 24: Wait to counter
  • Tactic 25: Show flexibility
  • Tactic 26: Know your secrets
  • Tactic 27: Enlarge the pie
  • Tactic 28: Offer fixed alternatives
  • Tactic 29: Prolonged silence
  • Tactic 30: Always leave room for dessert
  • Tactic 31: Cut salami slices

Stage 5: Applying Pressure

  • Tactic 32: Avoid exaggeration
  • Tactic 33: Bluff!
  • Tactic 34: Convince using visuals
  • Tactic 35: Apply pressure
  • Tactic 36: Surprise!
  • Tactic 37: Divide and conquer
  • Tactic 38: Break the tension

Stage 6: Making Progress

  • Tactic 39: Compromise
  • Tactic 40: Be friendly
  • Tactic 41: Record the meeting
  • Tactic 42: Split and choose
  • Tactic 43: Nickel and diming
  • Tactic 44: Utilize positive “Halo Effect”
  • Tactic 45: Use facts
  • Tactic 46: Look for probing questions

Stage 7: Reaching Agreement

  • Tactic 47: Premature congratulation
  • Tactic 48: Walk away
  • Tactic 49: Final offer arbitration
  • Tactic 50: Commit offer to paper

Putting the Agreement in Writing

Post-Negotiation Evaluation

Course Methodology

This would consist of an interactive combination of lectures, role plays, simulations, exercises, assessment tools, case studies, videos, etc.

Target Audience

Managers dealing with supply chain, procurement, sales, project, human resource, administration, facilities, and maintenance would find this course extremely useful.

Duration

02 Days (08:30–14:30) with appropriate breaks for tea/refreshments and lunch.

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