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Negotiation Skills

Negotiation Skills. Objectives for this Session. By the end of this session you will Understand & Value the 5 step Negotiation Process Have experienced using this process Understand & value the key personal attributes needed to be a successful negotiator. What is Negotiation?.

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Negotiation Skills

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  1. Negotiation Skills

  2. Objectives for this Session • By the end of this session you will • Understand & Value the 5 step Negotiation Process • Have experienced using this process • Understand & value the key personal attributes needed to be a successful negotiator

  3. What is Negotiation? • A process by which 2 parties seek to reach agreement through bargaining. • A win/win situation providing each party is prepared to give up something to achieve something the other party has

  4. Some Examples? • Peace or war? • Restructuring an industry/ wage negotiation • Living with relatives/flat mates • Buying a car • Buying a round of drinks

  5. Compare and contrast: • Length: 5 mins to 10 years? • Looped negotiations • Life or death or just for fun • One to one or team to team

  6. The Negotiating Process • Step One Prepare -What do you want? • Step Two Debate -What do you want? • Step Three Propose -What wants can we trade? • Step Four Bargain -What wants will we trade? • Step Five Agree

  7. Step One - Prepare • Research • LIST your objectives and their objectives • Those you INTEND to get • Those you MUST get • Logistics/Time & Place

  8. Step Two - Debate • Listen carefully • Ask questions • Clarify/control • Summarise • Don’t argue, interrupt or assume ...BUT

  9. Step Three - Propose • Make proposals • State conditions • Express concerns • Search for Common interests • Complementary or in Conflict ? • Use positive body language AND

  10. Step Four - Bargain • Key words are IF and THEN • Start making concession: • Every concession should have a condition (IF you … THEN I will … ) • Conserve your concessions - don’t give everything away too soon • You don’t have to share every piece of information with the opposing side! • Don’t be afraid to say no

  11. Step Five - Agree • Usually final concession :“IF you do that, THEN we have a deal!” • Gain commitment • Record and agree results • Leave satisfied

  12. Tips: • Objective evidence • A stake in the ground • Walking away • Being organised • Concessions which are easy for you to give and valuable to the other side

  13. The Language of Negotiation • MFP - Most Favourable Position • WAP - Walk Away Position • BATNA - Best Alternative To A Negotiated Agreement - if it can’t be • IVC - Inexpensive Valuable Concessions • TO - Time Out

  14. Role Play - Some Rules • Everyone can do it • Throw yourself into the role • You never have enough information • Elaborate in the spirit of the role brief So....

  15. Your negotiation: • Hotel Management • Social committee: Organisers of Christmas “do” • Prepare: 15 minutes • Negotiate (including “time outs”) 30 minutes • Each side to prepare a 1 minute summary • 15 minutes

  16. Summary • Did you agree? • What were the key features of your agreement? • Share • One thing that went well • One thing you would do differently next time • One thing the other side did well

  17. 7 Deadly Sins of Negotiating • Pride - Be prepared to compromise • Gluttony - Don’t bite off more than you can chew • Anger - Handle objections calmly • Covetousness - Prioritise needs/wants • Envy - Know competitors strengths & weaknesses… AND your own • Sloth - Do your homework • Lust - Don’t look desperate to settle

  18. Summary • negotiation skills are key skills • they can be learnt • preparation is vital • be aware of your own style and performance and seek to improve

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