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Advanced Diploma Digital MediaTeacher: Tony Whittingham

NEGOTIATION SKILLS

Negotiations Interests/Needs vs Positions Options Relationship

Needs vs Positions

To Create Value in a Negotiation

At the table:

1. Explore interests of all sides

2. Generate options & packages that “increase the pie”

3. Suspend criticism

4. Invent options without committing (brainstorming)

5. Build relationships

(Prof. B Jordaan, 2007)

Know your BATNA

BEST ALTERNATIVE TO A NEGOTIATED SETTLEMENT

Sets a Values threshold Know your INTERESTS Know the other party’s interests Know who you are negotiating

with Know your options Know your best alternative

Be Comfortable with Walking Away Trust me – if you’re not happy now, you’ll

be even unhappier later Deals do NOT get Better than the

Negotiation Honeymoon

The Fruits of a bad Negotiation

Building Relationships

Keep the other person whole

If people trust you, they will want to work with you and will give you the deal you want

If you are perceived as sincere, the relationship will be healthier and more beneficial to you.

Nina Wanendeya (Chief Negotiator, Johnson & Johnson)

Magic Phrases for Negotiating Effectively (Glatzer, 2003)

1. "That sounds a little low."

"To make it worth my time, I would need..."

"Considering the amount of research required, can we agree to..."

2. "I'm expecting more for this piece."

"Can we work on that?"

Golden Rules DO NOT NEGOTIATE OVER E MAIL ONLY NEGOTIATE FACE TO FACE IF IT HAS TO BE THROUGH ANOTHER

MEDIUM FOLLOW UP WITH A PHONECALL

SELL THE BENEFIT NOT THE PRICE DO NOT GET EMOTIONAL