Succesful Negotiation – Full course, University of Michigan
Teacher Georges Siedel : studied in Michigan, is a fellow professor at Cambridge, Harvard and
Yale.
Introduction :
We negotiate everyday, in every part of our life. Negotiation makes any interaction successful.
Negotiation is about facing a problem instead of running from it. On a personal level, we
negotiate with friends, family, landlords, car sellers and employers, among others. Negotiation
is also the key to business success. No business can survive without profitable contracts.
Within a company, negotiation skills can lead to your career advancement.
Week 1 Welcome to Successful Negotiation!
• Introduction and Overview
Week 2 Prepare: Plan Your Negotiation Strategy
• Should I Negotiate?
• Position Based and Interest Based Negotiation
• A Dispute Resolution or Deal Making Negotiation?
• Analyzing the Negotiation
• Best Alternative to a Negotiated Agreement
• Cross-Cultural Negotiations
• Ethical Issues and Standards
• Agents
Week 3 Negotiate: Use Key Tactics for Success
• Getting to Know the Other Side and Using Power in Negotiations
• Psychological Tools: Introduction and Mythical Fixed Pie Assumption
• Anchoring, Overconfidence, and Framing
, • Availability, Escalation, Reciprocation, Contrast Principle, and Big Picture
Perspective
Week 4 Close: Create a Contract
• About Contract Law
• Creating Contracts
• Business vs. Legal Objectives in Contracting
Week 5 Perform and Evaluate: The End Game
• Dispute Prevention
• ADR Concepts and Tools
• Arbitration
• Mediation
• Contract Performance Review and Evaluation
After completing this module, you will be able to:
(1) Decide if a negotiation is position-based or interest-based
(2) Decide if a negotiation is dispute-resolution or deal-making
(3) Complete a negotiation analysis, including setting a reservation price and stretch
goal, identifying alternatives to a deal, and finding the zone of potential agreement
(4) Use a decision tree to determine your BATNA
(5) Conduct cross-cultural negotiations
(6) Resolve ethical issues in negotiations
(7) Decide if you should use an agent in a negotiation
Assessing your negotiating style : On a scale from 1 to 5, answer the following questions.
1. Goal: What is your goal in business negotiations: a binding contract or the creation
of a relationship?
2. Attitudes: What is your attitude toward negotiation: win/lose or win/win?
3. Personal Styles: During negotiations, is your personal style informal or formal?
4. Communications: Is your communication style in negotiation direct (for instance,
clear and definite proposals and answers) or indirect (for instance, vague, evasive
answers)?
5. Time Sensitivity: In the negotiation process, is your sensitivity to time high (for
instance, you want to make a deal quickly) or low (you negotiate slowly)?
6. Emotionalism: During negotiations, is your emotionalism high (that is, you have a
tendency to display your emotions) or low (you hide your feelings)?
7. Agreement Form: Do you prefer agreements that are specific (that is, detailed) or
general?
, 8.Agreement Building: Do you view negotiation as bottom up (reach agreement on
details first) or top down (begin with agreement on general principle)?
9. Team Organization: As a member of a negotiating team, do you prefer having one
leader who has authority to make a decision or decision making by consensus?
10. Risk Taking: Is your tendency to take risks during negotiations high (for instance,
your opening offer to sell is extremely high) or low?
Checklist of Ethical Standards and
Guidelines
Perhaps more than any other human activity, negotiations raise challenging ethical dilemmas.
Some ethical standards are required by law; others are voluntary. Select one or more of the
voluntary standards or guidelines before you begin a negotiation. In a way, it helps in making
negotiations more loyal and ethical.
