Course Description
The training aims to equip participants with exemplary negotiation skills, review their current practices, and provide tools to identify opportunities for improvement. The best practices have been gathered through years of working with leading financial institutions and are field proven.
Additionally, to ensure participants understand and apply the negotiation skills learned during the program, they will be working through a case study that requires negotiation.
Learning Outcome
- Understand how to effectively navigate the stages of negotiation.
- Develop the ability to assess different negotiation styles and adapt based on situational requirements.
- Develop comprehensive negotiation plans and strategies by setting clear objectives and designing tactical approaches.
- Understand the different techniques used to build rapport with counterparts from different cultures.
- Learn to handle difficult situations by employing conflict resolution strategies and emotional intelligence.
01. Stages to Negotiating
- The Process of Negotiation
- Prepare, Receiving Proposals, Discuss, Propose, Counter Propose, Bargain
- Should I Negotiate?
- Exploring the underlying reasons to negotiate
02. Negotiation Style and Planning
- Assess Your Negotiation Style
- Explore different negotiation styles in the ‘room’
- Conduct a gap analysis and perform a role reversal
- Adapting your Negotiation Style to suit the situation
- Positional Based or Interest Based Negotiation
- Divide the ‘Pie’ OR Enlarge the ‘Pie’
- Claiming Value or Creating Value
- Negotiation Planning
- What is your overall goal?
- What is your ‘BATNA’ (Best Alternative to a Negotiated Agreement)
- What’s your Stretch Goal?
03. Strategies for Effective Negotiation
- Principles of negotiations uncovered – what, when and where?
- Exploring 16 strategies for an Ideal Negotiation and identify how they fit with your organization, based on the circumstances and the type:
- Collaboration, Trade-off, responding to what-Ifs, one more “No”, Pressure points, Expectations and Achievements, The Bogey Strategy, Breaking an Impasse, Deadlines Work, Deadlock, Last and Final Offer, Tough Negotiation Spot, Power Motivators, put together a Successful Team of Negotiators, Escalation in Negotiations, partnering is long term
- 6 key factors that influence people to say “yes” more often.
- Reciprocation
- Commitment and Consistency
- Social Proof
- Liking
- Authority
- Scarcity
04. Ethics in Negotiation
- Ethics in Negotiation:
- Fraud: What is it & What is it NOT?
- Fiduciary Duty
- General Ethical Standards
05. Getting to Know the Other Side
- Cross Cultural Negotiations:
- Goal: Contract OR Relationship
- Attitude: Win/Lose OR Win/Win
- Styles: Informal OR Formal
- Agreement: Bottom Up OR Top Down
- Team: One Leader OR Consensus
- Ask Questions:
- Open Ended VS Close Ended Questions
- Developing Power in a Negotiation
- Best Practice Phrases in a Negotiation
- Active Listening:
- Signs of Active Listening
- Verbal and Non-Verbal Signs
- Breakout Room Exercise: Active Listening & Observation
06. Reading Signals and Dealing with Difficult Negotiation Situations
- Dealing with different types of people (especially difficult / tough negotiators)
- Deadlocks, Standstills & Concessions
- Tricks, Traps & Tactics – using laws of influence
- When & Where to Negotiate – Pros and Cons of Email & Phone Calls
07. Emotional Intelligence and Negotiation Psychology
- Emotional Intelligence
- Being Present, Mindful & Attentive
- Negotiation Psychology
- Heuristics, Mythical Fixed Pie Assumption, Anchoring applied to Negotiation, Overconfidence in Negotiation, Framing in Negotiation, Availability Bias in Negotiation, Escalation, Contrast Principle, Big Picture Perspective
- Overview
-
Course Description
The training aims to equip participants with exemplary negotiation skills, review their current practices, and provide tools to identify opportunities for improvement. The best practices have been gathered through years of working with leading financial institutions and are field proven.
Additionally, to ensure participants understand and apply the negotiation skills learned during the program, they will be working through a case study that requires negotiation.
Learning Outcome
- Understand how to effectively navigate the stages of negotiation.
- Develop the ability to assess different negotiation styles and adapt based on situational requirements.
- Develop comprehensive negotiation plans and strategies by setting clear objectives and designing tactical approaches.
- Understand the different techniques used to build rapport with counterparts from different cultures.
- Learn to handle difficult situations by employing conflict resolution strategies and emotional intelligence.
- Course Outline
-
01. Stages to Negotiating
- The Process of Negotiation
- Prepare, Receiving Proposals, Discuss, Propose, Counter Propose, Bargain
- Should I Negotiate?
- Exploring the underlying reasons to negotiate
02. Negotiation Style and Planning
- Assess Your Negotiation Style
- Explore different negotiation styles in the ‘room’
- Conduct a gap analysis and perform a role reversal
- Adapting your Negotiation Style to suit the situation
- Positional Based or Interest Based Negotiation
- Divide the ‘Pie’ OR Enlarge the ‘Pie’
- Claiming Value or Creating Value
- Negotiation Planning
- What is your overall goal?
- What is your ‘BATNA’ (Best Alternative to a Negotiated Agreement)
- What’s your Stretch Goal?
03. Strategies for Effective Negotiation
- Principles of negotiations uncovered – what, when and where?
- Exploring 16 strategies for an Ideal Negotiation and identify how they fit with your organization, based on the circumstances and the type:
- Collaboration, Trade-off, responding to what-Ifs, one more “No”, Pressure points, Expectations and Achievements, The Bogey Strategy, Breaking an Impasse, Deadlines Work, Deadlock, Last and Final Offer, Tough Negotiation Spot, Power Motivators, put together a Successful Team of Negotiators, Escalation in Negotiations, partnering is long term
- 6 key factors that influence people to say “yes” more often.
- Reciprocation
- Commitment and Consistency
- Social Proof
- Liking
- Authority
- Scarcity
04. Ethics in Negotiation
- Ethics in Negotiation:
- Fraud: What is it & What is it NOT?
- Fiduciary Duty
- General Ethical Standards
05. Getting to Know the Other Side
- Cross Cultural Negotiations:
- Goal: Contract OR Relationship
- Attitude: Win/Lose OR Win/Win
- Styles: Informal OR Formal
- Agreement: Bottom Up OR Top Down
- Team: One Leader OR Consensus
- Ask Questions:
- Open Ended VS Close Ended Questions
- Developing Power in a Negotiation
- Best Practice Phrases in a Negotiation
- Active Listening:
- Signs of Active Listening
- Verbal and Non-Verbal Signs
- Breakout Room Exercise: Active Listening & Observation
06. Reading Signals and Dealing with Difficult Negotiation Situations
- Dealing with different types of people (especially difficult / tough negotiators)
- Deadlocks, Standstills & Concessions
- Tricks, Traps & Tactics – using laws of influence
- When & Where to Negotiate – Pros and Cons of Email & Phone Calls
07. Emotional Intelligence and Negotiation Psychology
- Emotional Intelligence
- Being Present, Mindful & Attentive
- Negotiation Psychology
- Heuristics, Mythical Fixed Pie Assumption, Anchoring applied to Negotiation, Overconfidence in Negotiation, Framing in Negotiation, Availability Bias in Negotiation, Escalation, Contrast Principle, Big Picture Perspective
- The Process of Negotiation