Business Negotiation

1 Credit · Level: Graduate

Negotiations are often viewed as tactical exercises that happen at the negotiation table, where participants devote their efforts to using power and persuasion to convince the other side to say YES. However, research shows that this approach leads to 80% of executives consistently leaving around 20% of value on the negotiation table; and the worst part is that they are not even aware of it. It does not need to be this way! At its core, a negotiation is a problem that requires a solution. However, finding an optimal solution calls for a fundamental change in the negotiation mindset, where negotiators shift from the need to persuade to the need to understand the problem and problem-solve it together. The objective of this course is to provide participants with a new integrated approach to engage in any negotiation (from simple to complex). They will learn that to maximize value in negotiations, they must go beyond the simple tactical (power & persuasion) approach. Understand that negotiations are, in fact, three-dimensional (3D) problems composed of three different yet highly integrated dimensions (strategic, creative, and tactical) and that to be effective negotiators, they must recognize this architecture and learn to play in these dimensions simultaneously. Changing people’s negotiation mindset requires tools and processes that go beyond what is taught in traditional negotiation courses. In this course, participants will be introduced to The Negotiation Canvas®, a powerful visual tool that incorporates all three dimensions of negotiation into one-page. This tool helps participants go beyond the traditional negotiation approach of power and persuasion, which is often hardwired in people's brains, and build new mental pathways to navigate the 3D architecture of the negotiation process effectively – allowing participants to rewire their brains! Finally, when different interests and opinions are mixed with strong emotions, we find ourselves in a conflict situation. Learning to navigate these emotionally charged situations and engage in these difficult conversations productively is very important. In these situations, trust is at a minimum, and it is difficult to communicate; lowering the temperature and de-escalating the conflict is required to negotiate effectively. In this course, we will learn techniques to manage emotions (yours and theirs) and acquire conflict resolution strategies that can be applied depending on the situation.