Adavanced Negotiation Skills

Corporate Finance

Strategic Negotiation
Click for PDF of Advanced Negotiation Skills
WORKSHOP AIM:

The aim of the workshop is to develop participants negotiation skills so that they are able to analyse, and plan the strategic management of complex negotiations in order to maximise fee income whilst maintaining positive client relationships.


WORKSHOP OBJECTIVES:

By the end of the workshop participants will be able to:

Use tools and techniques to identify potential best  outcome in order to
       maximise fee income

Identify how to create value to both parties without compromising fee
       income

Understand how to maximise fee income whilst maintaining positive client
       relationships

Effectively plan and prepare for a negotiation, including team negotiations

Successfully implement a process for a successful negotiation

Identify the different negotiation strategies and adopt the correct one for
       a given situation

Understand the dynamics of power and its effects on the negotiation,
       when to use, not use and how to counter

Workshop Content

Introduction

Workshop aims & objectives
Personal objectives

Maximising Income

Types of negotiations
Analysing & assessing positions Where does the power lie, strengths, weaknesses
Negotiating parameters
Assessing fee potential, where are we likely to settle
How to maximise own outcome
Practical exercise

Practical Negotiation Exercise


Participants will be required to review and analyse negotiation situations to determine the strength of each position, likely outcome, fee income potential, most favourable strategy

Relationship Negotiations

Pros & cons of Relationship negotiations
Creating value
Valuing the relationships versus profitability
Strategic approach to relationship negotiations

Practical Negotiation Exercise

Participants will conduct a case study driven negotiation

Review and debrief of exercise Feedback & Coaching for improved performance.

Negotiation Strategies

Getting the other side to the table
Establishing a positive negotiating environment
Win-lose strategies
Win-Win strategies
Linear & non-linear processes
Typical tactics and how to counter

Maintaining & Managing Rationality


Escalation beyond reason
Objective assessment
Irrational expectations
Pit falls of over confidence
Excessive emotions

Planning & Preparation Review

Criteria that should be considered when planning for a successful negotiation
Likely outcome us & them
Value creation opportunities
BATNA us & them
ZOPA
Authority
Negotiating team, style, culture
Process, flexibility
Relationship consideration, departmental, firm wide
Opening position Anchor
Close,

Negotiation Exercise Practical Negotiation - Exercise Using CCTV

Participants will conduct a case study driven negotiation

Review and debrief of exercise Feedback & coaching for improved performance.

Review & Summary