Introduction
Negotiation happens all around us, almost all of the time. Most of us negotiate in one form or another from the time we get up in the morning until we go to sleep at night. Some of us even negotiate in our sleep. 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.
So, whether you are an experienced negotiator or new to the field, this Advanced Negotiation Skills & Deal Making Strategies training course will provide you with a deep understanding of the negotiation process and to develop new practical skills that will allow you to plan, manage and execute every negotiation in a highly effective way. 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 to negotiation, which when combined successfully are the defining characteristic of advanced negotiation and deal making skills.
Course Objectives:
Negotiation Skills & Deal Making Strategies training course aims to enable the participants achieve the following:
- 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 to communicate effectively in complex cross- cultural environments
- Develop an understanding of the underlying psychological drivers of negotiation behaviors and how to harness these to influence others
Who Should Attend?
- Anyone who is ambitious and wishes to build or enhance negotiation skills
- Those who wish to enhance existing negotiation skills building on past experience
- Those who are new to negotiation and understand the considerable benefits of developing this valuable skill early in their career.
Course Outlines:
The Anatomy of a Negotiation – Characteristics, Behaviors and Phases
- 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
Building a Deal – Advanced Negotiation Strategies
- Strategies vs. 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
Utilizing Leverage and Dispute Resolution Skills 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
Preparation and Communication – The Key to Successful Outcomes
- 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
The Psychology of Negotiation – Harnessing the Science Of Influence
- Understanding the importance of influence
- Reciprocation, scarcity and authority
- Consistency, liking and social proof
- Bringing it all together – negotiating better deals