Course description
Mastering Business Negotiations
Participants will enhance their negotiating skills in a range of negotiations, including one-on-one and team - on- team negotiations, negotiations with multiple partners, and one-off and continuing negotiations.
It is not lecturing but being introduced to new research, approaches and ideas. Participants will practice and refine their negotiation skills, receiving feedback and coaching to start implementing their learning from and during the course.
Training content
Day 1
Introduction
- Welcome and Individual Introductions
- The key objectives for the course
- Simulation
- Creating value
- Maximising value
- Claiming value
- Examples of value
- Body Language and Misunderstanding Body Language
- How to Display Neutral Non Transparent Body Language
- Asking Questions – Impactful techniques - and which questions not to ask
- Listening – gathering information to create value
- The 4 C’s
- Persuasion – Structuring a Persuasive Message
- Dealing with Confrontation and Difficult Conversations
Day 2
Defining a Great Deal
- Negotiation Balanced Scorecard
- Measuring Progress of a Negotiation
- Developing a Scoring System
- Benchmarking Final The Outcome
Offers
- Who should make an offer and when
- The “Winner’s Curse’
- The “Chilling Effect”
- Precise or Range Offers
- Early Offers
- Later Offers
Bargaining
- Leveraging with impact
- Concessions – an art and a science!
- How transparent should you be?
- Key Questions – An Elephant’s Friend
- Killer question with confidence
- Log – rolling’– Value Added Trade – offs
- Multi Issue Offers – ‘MIO’
- Multiple, Equivalent, Simultaneous Offers – ‘MESO’
Body Language
- Why it is a critical element of negotiations
- Reading the body language of your counterpart
- Displaying your own body language
- Body language and ‘connectivity’
Diagnostic – Know Your Dominant Negotiating Style
- Recognise Others Style
- Broadening Your Styles
- Adapt your style for different circumstances
Power, Rights and Interests – Disputatious Negotiations
- Power, Rights and Interests Model
- Re – directing rights and power driven negotiators
- How to use rights and power effectively
- Rational and Irrational Negotiations
- The 4 W’s
Negotiating Challenge – Real Life Case Study - to practice, illustrate and embed learnings
Multiple Party Negotiations and Team Negotiations
- Team Negotiations the advantages – research
- Advice for negotiating in teams
- Challenges and good practice
- Creating alignment of team members
Day 3
Creating and Establishing Winning Trust in Business Negotiations
- What is Trust?
- The importance of trust for sustainable negotiation outcomes
- Establishing rapport
- Techniques to create rapport to influence and persuade
Trust activity
- Email – advantage or disadvantage in negotiations
- Adjusting to Non Visual/Face to Face Negotiations
- Developing E – charisma
- The virtual handshake – richer negotiation communication
- 2 to 1 ratio in E Negotiations
- 10 rules for email negotiations
- Advantage of Linguistic Style Matching in Negotiations
- Visuals in and success in negotiations
- Getting your co - negotiator to act as your mirror
- The Key 4 moves in for virtual negotiations success
- Getting Virtual Negotiations ‘back on track’
- Detecting lying in text based conversations
International Negotiations
Negotiating Challenge – A Cross Border Acquisition – Group Work
Negotiating Across Cultures
- What is Culture?
- Why and How Culture and Background Impacts Upon Negotiation
- Mapping Cultures - A Framework for Understanding and Planning Cross Cultural Negotiations
- Decoding Culture
- Face, Dignity, Harmony, Honour, Social Structures
- Culture and Distributive and Integrative Negotiation
- Decision Making
- Trust
- Status and Face
Cross Cultural Communication for Effective Negotiation
Cross Cultural Communication - Activity
- International English
- Direct Communication
- Indirect Communication
- Effective Tools for Cross Cultural Communication to Avoid ‘Cultural Incidents’ and ‘Misunderstanding’
Clinic for Participants to Consider Particular Issues They Face in Negotiations
Action Plan for Each Participant
Costs
Course fee: £3245+VAT
Certification / Credits
By the end of the course the participants will be able to:
- Identify opportunities to create value through negotiation
- Prepare and plan for a negotiation in a systematic, flexible and effective way
- Improve their skills to prepare for and manage the whole negotiation process
- Adapt their negotiation approach for better outcomes
- Develop confidence in their negotiation skills through real-world negation challenges with fellow participants in a safe supportive environment
- Learn a variety of different negotiation strategies
- Communicate more effectively by using questioning, listening and observation skills
- Become familiar with a Virtual Negotiations Tool Kit – 12 Insights for Success to Rapidly Building the Solid Bridge
- Be introduced to a Framework for Understanding and Planning Cross Cultural Negotiations
- Receive valuable feedback from an experienced expert
Individuals will have:
- Learned the negotiation process and how to manage each of its different stages
- Obtained detailed knowledge of tested negotiating techniques and how they can be applied in the context of your organisation
- Become aware of their preferred negotiating style along with its strengths and weaknesses
- Learn how to get the best possible outcome while maintaining and improving their relationship with clients
Why choose Euromoney Learning?
4.6/5 rating on course check for service
60,000 professionals trained across public courses
80+ countries where training is delivered
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Euromoney Learning
At Euromoney Learning, we understand that learning doesn’t start and end when you leave the classroom. We know that the financial markets never stand still, and that technology has both simplified and added complexity at a break-neck pace. That’s why...