This training course is designed to help executives and other potential deal-makers learn the essential strategies and skills to conducting successful business negotiations. Learners in this course will explore the fundamentals of deal making with the help of games, videos, interactive exercises, case studies, and other engaging content. The course begins by comparing and contrasting the two major types of negotiation—Dispute Settlement Negotiation (DSN) and Deal Making Negotiation (DMN)—and exploring the difference between negotiation and bargaining. Key topics covered in the course include the stages of the negotiation process; the importance of preparation and realistic goal-setting; the five basic approaches to negotiation; when to make (and when to avoid) commitments; the relative importance of relationships and outcomes; the decision to walk away from a negotiation; and the unique challenges posed by multiparty, international, and cross-cultural negotiations.
Completion Time
4 hours
Access Time
90 Days
Outcome
Individual Skill Course
Language
English
Training Level
Beginner
Delivery Information:
Description
Learning Outcomes
After completing this course, the learner should be able to:
- Distinguish between Dispute Settlement Negotiation (DSN) and Deal Making Negotiation (DMN)
- Explain the importance of BATNA in Deal Making Negotiation
- Describe the relationship between bargaining and negotiation
- Distinguish between interests and positions, and describe the importance of each
- Explain the five steps of the negotiation process
- Identify the types of information that should be assembled prior to negotiation
- Describe the five principal approaches to negotiation
- Identify the two types of commitments, and explain how they affect negotiating flexibility
- Explain the importance of the opening position
- Describe Leigh Thompson's mental models of negotiation
- Explain the importance of active listening in the context of Deal Making Negotiation
- Identify the challenges posed by multiparty negotiations, and describe strategies for meeting those challenges
- Describe the circumstances under which a negotiator should call for a timeout, and when she should walk away from a negotiation
- Explain the additional preparations needed before undertaking international or cross-cultural negotiations
- Apply the principles of Deal Making Negotiation to real-world examples
Additional Information
This course includes an “Ask the Expert” feature. You can use this feature to submit questions about course content. A subject matter expert will provide guidance or point you to additional resources for the topics you’re studying. Questions are answered as quickly as possible and usually within 24 hours.
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs.
Requirements
Technology Requirements
Hardware Requirements: This course can be taken on either a PC, Mac, or Chromebook.
Software Requirements: Software must be installed and fully operational before the course begins.
- PC: Windows 8 or later.
- Mac: macOS 10.6 or later.
- Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible. Cookies and JavaScript must be enabled
- The latest Adobe Reader/Acrobat Reader ( free download available at https://get.adobe.com/reader/ )
- Any modern Office suite: Microsoft Office, Apple iWork, OpenOffice, or LibreOffice
- Reliable internet connection. Broadband cable or highspeed DSL is recommended for optimal experience.
- E-mail account (to be able to register and to receive e-mail from the course system regarding registration, course status, etc.)
Reviews
"Excellent course. Easy to navigate, and I used some of what I learned in negotiating a situation with a neighbor."
Diane B.
"The information in the course has practical applications they are very relevant in today's world."
Kehinde O.
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