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This subject focuses on skills and strategies that are key to negotiating, swaying and influencing counterparties in business negotiations and deal-making. In this subject, skills will be developed by constantly improving as business negotiators by asking the right questions, framing issues, gaining lessons learned, defining success metrics and negotiating with others with different skill-sets, perceptions and backgrounds. The subject will have a particular focus on negotiations in cross-border settings. The teacher is a leading expert in negotiation training, having taught and researched at prestigious institutions such as Berkeley, Stanford and Harvard, and trained executives at some of the world’s largest companies. He will draw on both real-world transactional and academic experience in leading the subject.
Principal topics and skills include the following:
- Understand why conflict arises between people and business organisations, within both a domestic and international context
- Assess and apply various strategic frameworks in diverse settings (business-to-business, private-public sector, etc)
- Define specific success metrics within diverse teams and groups before, during and after business negotiations and deal-making settings
- Apply and leverage the main conceptual frameworks related to transaction planning and conflict resolution within diverse environments - including distributive, integrative, and mixed motive negotiation styles (among others)
- Analyse and synthesise business negotiation theories, skill-sets and studies as current or future business negotiation professionals
- Recognise implicit and explicit biases and nudges that may hinder or help business negotiations, while developing strategies on how to bridge and create value from such gaps
- Develop, and learn how to continually develop, a value-added business negotiation toolbox and confidence as business negotiators and deal-makers
- Understand key contractual terms that may pivot business negotiators and negotiations
- Enhance effective communication skill-sets, both verbal and nonverbal, and develop an empathetic understanding of how and why counterparties may see things differently from you and your business unit
- Possess an overall understanding of the nature of disputes and conflict resolution, including ethical, cultural, economic, psychological and emotional factors.
Intended learning outcomes
A student who has successfully completed this subject will:
- Demonstrate business negotiation and deal-making skills and strategies in a domestic and global setting
- Display advanced knowledge and understanding of the principles, skills and strategies of business negotiations and deal-making
- Understand a lawyer’s/negotiator’s moral, ethical, and professional responsibilities within a business negotiation and deal-making context
- Articulate and apply business negotiation and deal-making theories to real-world situations in either a dispute settlement or deal-making negotiation context
- Differentiate between ethical and unethical practices and identify potential ethical dilemmas and solutions
- Exhibit the skill and confidence of business negotiators, including an awareness of possible psychological encouragements and barriers to consensus from a domestic and global perspective
- Develop skills and strategies for extreme business bargaining situations such as emotional bargaining, unethical tactics and severe time constraints
- Understand in a sophisticated way how business and legal mindsets interact and can ideally create value for all related parties
- Gain critical experience and confidence in business negotiations and deal-making through the course’s constant business negotiation practice simulation sessions.
Last updated: 29 July 2022