Your Course of Study
Strategic Negotiations is much more than a set of techniques for gaining control at the bargaining table. In a rich learning experience that includes faculty lectures, case studies, group discussions, and hands-on practice, you will master concepts and tools that will help you achieve goals, foster growth and understanding, and promote resolution among parties whose interests and perceptions are in conflict.
Negotiating in Three Dimensions
Effective negotiations create long-term, sustainable value for both parties. The surest way to achieve that value is with an approach called "3D negotiation," a powerful strategy that takes into consideration the multiple characteristics of the business world's most successful negotiators:
The First Dimension: Maximizing Effectiveness at the Table
One-dimensional (1D) negotiators seek interpersonal effectiveness, whether in person, by email, or on the phone. They focus on elements of the immediate negotiating process, such as:
- Employing the most appropriate bargaining styles
- Creating the right atmosphere
- Building trust
- Setting communication dynamics
- Framing issues attractively, and packaging or separating them
- Persuading others
- Deciphering body language
- Bridging cultural differences
The Second Dimension: Engineering the Deal
Two-dimensional (2D) negotiators relentlessly look beyond the interpersonal process to the underlying substance of the problem, identifying where potential value exists and how to build agreements that realize this value for both sides. They focus on the principles of dealcrafting—the engineering of value creation among potentially cooperative parties.
The Third Dimension: Designing the Process
Three-dimensional (3D) negotiators know that once the bargaining table has been set, much of the game has been played already. They think hard about the architecture of the deal—how to set up, and if necessary, reset the table. Not only do 3D negotiators skillfully play the game as given, but they also act entrepreneurially on multiple planes to change the game to gain maximum advantage. They focus on issues such as:
- Who should be at the table?
- What is the best means to get them there?
- In what sequence and on what basis should they be approached? Separately or together? Publicly or privately?
- What set of issues should be discussed? Is it most productive to separate or combine issues?
- What process is best?
- How should expectations be set?
- What are the no-deal alternatives?
- Should there be a series of tables, possibly linked, separated, sequenced, or arranged in parallel?
Strategic Negotiations seeks to develop sophisticated and effective negotiators who can operate with skill in all three dimensions, weaving together a series of mutually reinforcing decisions and activities so the negotiation is more likely to yield optimal results.
A Hands-On Learning Experience
During this leadership development program, you will participate in several interactive simulations that place you on both sides of the negotiating table. These carefully constructed exercises range from two-party, one-shot price deals to evolving and complex multiparty, multi-issue negotiations that require synchronization of internal and external discussions. Bringing the program's dealmaking framework to life, the pace of these exercises is rapid-fire, the atmosphere realistic, and the results highly rewarding.
Insight into Your Negotiating Challenges
In addition to the program's core curriculum, faculty members lead daily negotiation clinics—optional sessions in which some of your own negotiation problems can be discussed and analyzed by fellow participants. These sessions not only produce valuable insight, but also provide useful practice in applying the program's lessons.
"The most valuable part of the program was the role-playing exercises, which enabled us to apply concepts and theory immediately. Beyond reinforcing what we had learned, these exercises also fostered networking because teams were always changing, exposing us to different classmates. I particularly appreciated the opportunity to network with people from different companies, countries, and walks of life. Shortly after I returned from the program, one of our contracts came up for renewal. By applying what I had learned—from deal design to negotiating tactics—I was able to walk in fully prepared and negotiate terms that were much more favorable to us."
Vishal Seth [Country Head], Alcoa India Global Business Services, Alcoa Inc., India