Urban Business Institute
Strategic Negotiation
Key Concepts
Key Learning Outcomes
Through faculty presentations, group discussions, case
studies, and interactive simulations, you will learn how to negotiate in three dimensions, weaving together a series of mutually reinforcing decisions and activities to drive optimal results.
Maximize
Interpersonal effectiveness at the table, including employing appropriate bargaining styles, building trust, persuading others, and bridging cultural differences. This involves understanding different negotiation tactics and adjusting your approach based on the situation. Developing strong communication skills and emotional intelligence can help in creating a positive negotiation environment, fostering mutual respect, and achieving better outcomes for all parties involved.
Leverage
Technology and data analytics to enhance negotiation strategies. Utilizing tools such as negotiation software and data analysis can provide insights into trends, behaviors, and preferences of the negotiating parties. This helps in making informed decisions, predicting outcomes, and tailoring negotiation tactics to achieve more favorable results.
Engineer
An optimal deal by identifying where potential value exists and crafting deals that realize this value for both sides. This requires thorough preparation and research to understand the interests and needs of all parties. By leveraging creative problem-solving techniques and focusing on collaborative value creation, negotiators can design agreements that maximize benefits and build long-term partnerships.
Cultivate
Long-term relationships by focusing on mutual benefits and maintaining open communication channels. Building a foundation of trust and cooperation can lead to more successful negotiations and ongoing partnerships. By understanding the long-term goals and priorities of all parties, negotiators can create agreements that support sustained collaboration and shared success.
Design
The process by acting entrepreneurially on multiple planes and taking a strategic approach to such questions as: Who should be at the table? What is the best means to get them there? What set of issues should be discussed, and should they be combined or separated? Which process is best? How should expectations be set? Should there be a series of tables, possibly linked, separated, sequenced, or arranged in parallel?
Adapt
To changing circumstances and unexpected challenges during the negotiation process. Flexibility and resilience are key to handling unforeseen obstacles and evolving situations. By staying adaptable and open to new information, negotiators can adjust their strategies, maintain progress, and continue working towards mutually beneficial outcomes even in dynamic environments.