Negotiation training: Your best take-homes with negotiation training
Negotiation training is - or should be - a critical part of your overall business management training. If your ambition is to be a top business manager, it's important to make sure you gain real take-home skills when you invest in negotiation training.
What is negotiation?
It may seem obvious. You meet supplier and negotiate what you're buying, at what price. Your company is taking over another and you engage in M&A negotiation… you get the picture. But look further. Say, for instance, you and a colleague decide together who performs which tasks on a certain project. Even if it only takes one email, that's negotiation too and the better you are at it, the more successful you'll be. Negotiation is an integral part of every business- indeed any human -interaction.
Best techniques for negotiation training
Negotiation training at good business schools is built on helping you develop effective negotiation skills as a core component of your leadership skills. Some of the best teaching techniques used are:
- Self-assessment so you understand your current communication style and identify your most effective negotiation skills - and the least effective!
- Leadership coaching to perfect your skills that work for you & work on your bad habits
- Practice, leadership exercises, and role-play &interaction among participants
- Self-awareness & mindfulness exercises so you understand human nature& human dynamics
- Analysis of case studies, including the most delicate negotiations such as hostage negotiations
Real take-homes to expect from negotiation training
Good business schools offer negotiation training in standalone programs or integrated into general management training programs. These programs help you develop effective negotiation skills to get you action-ready for real business negotiation. You should learn to:
- Prepare for negotiation:
- Enter into negotiation:
- Leverage effective negotiation skills for change management:
- Come out strong, see it through and prepare for the next negotiation:
• Understand the full context
• Know your available choices
• Know your needs and your potential trade-offs
• Be aware of the needs of the other party and what they'll be willing to give on
• Leverage your awareness of your own negotiation style
• Tune into the other party's negotiation approach
• Stay aware of the particularities of this negotiation situation
• Use your personal leadership skills to drive the dialogue and situational dynamics
• Build and maintain a relationship with the other party
• Stay focused, avoid being diverted or getting stuck on unimportant points
• Most of all: be driven by your vision
• Master conflict resolution skills
• Inspire others and lead with impact
• Build on the relationship created through the negotiation – if the other party experienced it as positive, they will be more flexible the next time
• Establish and implement the changes sought
Insist on the best business schools in the world for negotiation training
You may have noticed that this article speaks specifically of negotiation training at top business schools. Without knowing anything about who's behind a program, you will have a harder time hitting on quality negotiation training. That's why a great place to start looking for your program is with business schools rankings from independent sources like the Financial Times, The Economist and Forbes. If you seek out programs at highly-ranked schools, you're much more likely to take long-term benefits home from negotiation training.
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Looking for business negotiation training? You may also like IMD's:
- Executive development program for mid-career managers
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- Or use our Program Finder to find your best business negotiation training!