Advanced Negotiation and Advanced Deal Making

• 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 behaviours and how to harness these to influence others

CONTENT

The Anatomy of a Negotiation - Characteristics, Behaviours and Phases

• Characteristics of a negotiation situation
• Key principles of effective negotiation and deal making skills
• The core components of effective negotiation behaviour
• 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 maximise 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
• Traits of the advanced negotiator
• What to take away from this course

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.