Negotiation

Can you get what you want?
Are you effective working in groups?

In this workshop, you are going to learn to identify the typical path of negotiations, from preliminary concessions, to an agreement in principle, and ending in a contract. Every successful negotiation has these elements.

You will identify preliminary concessions concerning pecuniary interests, resistance points, prerequisite waivers, timetable clashes and others that bring the parties into the zone of potential agreement (ZOPA).

You will learn how to make agreements in principle (AiP), like letters of intent (LOI), Memoranda of understanding (MOU) and memoranda of agreement (MOA) to clarify the major terms to be used in a formal, legally-binding contract.

Finally, you will learn how to write contracts, with respect to mutual assent, a valid offer and acceptance, adequate consideration, capacity and legality. These apply to a variety of contracts, including fixed-price or cost- reimbursement contracts, incentive contracts, time-and-materials, labor-hour, or indefinite-delivery contracts.

You will also learn about and practice using 5 common bargaining strategies, namely, accommodating (I lose - you win), avoiding (we both lose), collaborating (we both win), competing (I win - you lose), and compromising (we both win some and lose some). At each phase of the negotiation, you will decide which strategy to pursue based on your knowledge of your relevant strengths and weaknesses and those of the other party's, your assessment of how urgent you or they need a quick resolution, and your knowledge of alternative solutions.

Although negotiation is an essential tool for anyone in sales, it is an important skill in most other organizational interactions, as well.

• Concessions
• Agreement in principle
• Contract
• Bargaining strategies