Commercial Negotiation Skills
Details
Outline
- Setting the context-understanding the key drivers of the modern corporate environment
- The nature of competition and co-operation in the commercial world-examining the reasons for these forms of behaviour – risk management; venture capitalisation; Joint Ventures and Strategic Alliances
- A shifting paradigm – leveraging advantages in commercial negotiations-finance; technology; IP; process
- Stakeholders-Why do we negotiate? The changing dimensions of stakeholders – power and influence; internal and external stakeholders; understanding that stakeholders are not static. The problem with different agendas
- Corporate Social Responsibility – a significant factor in commercial negotiations? Understanding both the ‘tangibles’ and ‘intangibles’ of the CSR process – consequences and benefits. Can CSR make or break a contract? Stakeholders and CSR Corporate Governance structures.
- Factors of critical impact on negotiations-stress; time; communication; information/knowledge and experience; ability to learn
- Styles of negotiation - competitive/co-operative/active/passive/singular/multi-party
- Negotiation in context - strategic/tactical/contractual/personal/formal/informal
- Individual exercise: Preparing to negotiate as part of a commercial team
- Preparing to negotiate-the due diligence process /importance of information/tools and techniques for collection/collation-Porters’ 5 Forces; SWOT analysis; PESTEL analysis
- Planning to negotiate – setting an agenda-goals and objectives; preparation is everything; the importance of building scenario’s;
- Understanding the environment within which the negotiation will occur – the ramifications of neutral, hostile or ‘home’ ground
- The importance of contingency in negotiation-anticipatory strategies; BATNA explained. The relationship between critical success factors and key performance indicators of a negotiation and their relationship with contingency planning and preparation. The contingency element of scenario building.
- Managing conflict – the ‘Fire Principle’; conflict and costs – time is money – determining a way forward towards resolution; the deadly nature of miscommunication
- Managing stress – understanding the personal nature of stress; identifying ‘trigger’ events; strategies to maintain ‘emotional equilibrium’; the role of subjective vs. objective perspective. Operational efficiency – ‘good stress’ and the role of confidence
- Negotiation as a tool for dispute resolution – formal and informal processes – mediation; structured and unstructured negotiation; med-arbs; arb-med; the importance of the Arbitral clause in commercial contracts; escalation clauses explained; the Doctrine of Separability explained and its vital importance.
- Team/group exercise – negotiating a commercial agreement
- The gender dimension - The differences between Male and Female perspectives and attitudes/personalities – attitude to risk; temperament – how to build successful negotiation strategies. Gender in the International corporate world
- Understanding non-verbal communication – facial expressions and body language. The ramifications of hand movements (gestures); eye movements and posture of an individual. The universality of facial expression – a key factor in cross cultural negotiations within the international oil and gas industry; proxemics and different cultural behaviour norms – what this tells us about individuals in a commercial negotiation; the role played by touch or Haptics – another potentially vital clue in commercial negotiations. Physical appearance and dress.
- Power and negotiation – types of power and what they mean to negotiations – positional power; informal power; the role of charisma; the ‘power balance’ within a commercial negotiation – can this be redressed if unequal?
- Establishing and maintaining control – the critical importance of emotional control; when do you play an ace? What do you do if you don’t have an ‘ace’? How a structured agenda creates control and establishes a framework procedure for the negotiation
- Establishing and maintaining trust – the cornerstone to long term business relationships
- Organisational/national culture and negotiation–the impact of different belief and value systems on commercial negotiations – cultural norms and their role in negotiations – avoiding miscommunication
- Effective communication and comprehension – types of communication; effective presentation skills
- Qualities of the effective negotiator – confidence; charisma; the ability to ‘ad lib’ – thinking on ones feet; ability to assimilate complex and varied information; focus on the ‘core’ – processing information in a dynamic; high pressure environment
- Strategies and tactics of negotiation-dealing with uncertainty; unknowns and random events – making the disclosure choice – what to ‘burn off’ towards your real goal; the value of information; equity – engineering the ideal outcome
- Negotiating as part of a team – the role of leadership; harnessing the synergy; advantages and disadvantages of team negotiations; the ‘remote’ team challenge; advantages and disadvantages of remote team negotiations
- Multilateral negotiations – the importance of control; the danger of duplication; beware of ‘wild cards’ ; the ‘prima donna’ syndrome
- Team/group exercise – collaboration with competitors? JV’S? Strategic Alliances?
Speaker/s
Special Offer
Group discount: 10% discount for 3 or more participants
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