Fundamentals of Negotiation

The word ‘negotiation’ is derived from two Latin terms, negare otium ; which literally means ‘to deny leisure’. The connotation has now changed from ‘deny leisure’ to ‘business’. Negotiation is now defined as a process in which two or more interdependent individuals or groups, who perceive that they have both common and conflicting goals, state and discuss proposals and preferences for specific terms of a possible agreements.

This course is about fundamentals of negotiation and how negotiating skills can be developed. Different approaches towards negotiation are explained along with suitable strategy for negotiation. A negotiation check list is also provided. The course discusses commonly used techniques.

The course answers questions like how to negotiate with liars? What are the common mistakes made during negotiation? The course also explores the power of persuasion. It provides dos and don’ts of negotiation.

This course provides a roadmap for leaders to develop the art of negotiation. It will lead leaders to embark on a journey to successful negotiations which will also help in forging rewarding relationships and success in all spheres of life.

Module 1 – Introduction to Negotiation

1.1 Introduction, background and importance

1.2 Concept of negotiation

1.3 Fundamental approaches to resolving disputes

1.4 Different strategies for negotiation

1.5 Self-assessment

Module 2 – Fundamental Concepts of Negotiation

2.1 Various dimensions of negotiation

2.2 The negotiation checklist

2.3 Principles of persuasion

2.4 Introduction to Game Theory in negotiation

2.5 Self-assessment

Module 3 – Practical Tips for Negotiation

3.1 Expectations in negotiation

3.2 Techniques of negotiation

3.3 Common mistakes made during negotiation

3.4 Negotiating with fibsters

3.5 Self-assessment

Module 4 – Closing Deal in Negotiation

4.1 Commonly used techniques

4.2 Dos and don’ts of negotiation

4.3 Overcoming an impasse

4.4 Self-assessment

The course will include a mix of videos, recorded audio clips, faculty led lectures, examples, cases, self-assessment tests and assignment(s).