Effective Negotiation Skills

Course Overview

Negotiation is an essential skill for all managers and leaders.  Research shows that 70% of executives conduct business deals and negotiations without any formal training of skills training and 80% leave value on the table.  A knowledge of negotiation, enabled by lots of practice can radically transform the outcomes of deals, commercially adding more value but also building longer loyal clients.  The art and skill of negotiation can be learned.  It is imperative to know the ground rules of the game of negotiation, based in behavioural economics and psychology and also the tools, tactics and practice’s that work best at each of the four stages of all negotiations.  Better negotiators equal better business.  

Course Content

Part One- Know the fundamentals of negotiation 

The Key to Effective Negotiations: Understanding the ground rules. What gets in the way? The Three Elements of every negotiation to monitor. 

• Context: What is negotiation and when are you ‘in it’? Understanding how a goal focus positively impacts negotiation: A look at how the effective techniques of a target focused approach helps stay on track through the process of negotiation.  
• Distinguish Distributive and Integrative Negotiation Concepts: Understand the value claiming and value creation concepts in negotiation and how and when to use each. 
• Diagnosing Tools & Tactics in Negotiation: How to move your approach from a position to an interests approach by understanding the needs and motivations of the parties to the negotiation. How to harness a mutual gains approach. Understand the impact of Reference Points, Anchors, Zopa’s, BATNA’s, WATNA’s, Ultimatums, & the PIN diagnostic on your negotiation. 
• Putting it into Practice: Display your skills: Contract Negotiation using distributive negotiation skills and influence you will be required to conduct a Pitch/Bid/Tender/Short Contract negotiation. Review the result against goal and analyse. Receive feedback on your negotiation and start developing adaptive strategies. ‘Harvard Case Study’ 

Part Two; Master Skills of Effective Negotiators 

• Know the 7 master skills of effective negotiator into Practice.  Assessing your base skills: Develop and improve the Seven Skills of More Effective Negotiators and avoid the Common Mistakes in Negotiation: A look at the effect these common mistakes have in negotiations and how to avoid them in your negotiations.

Display your skills: Contract Negotiation using distributive negotiation skills and influence you will be required to conduct a Pitch/Bid/Tender/Short Contract negotiation. Review the result against goal and analyse. Receive feedback on your negotiation and start developing adaptive strategies. ‘Harvard Case Study’

Part Three: Process of Negotiation 

Each negotiation presents a different challenge and this section ensures that you take a consistent process approach that allows you to stay in control and focused in complex negotiations – whatever the situation may demand in a four-step methodology, each requiring different tools and strategies. 

• Understand the four-step process of negotiation: Preparation, Opening, Bargaining & Closing Harness the power of preparation: Practice the six steps of good preparation including two invaluable tools that visually plot each negotiation. Learn how to do this practical methodology. 
• Know your own Bargaining Style: What strategies do you seek to rely on first.  Complete the Thomas & Killman conflict handling psychometric to determine your negotiation style. 
• Putting it into Practice: Display your skills: Team Negotiation Conduct ‘Harvard Case Study’