Negotiation and Decision Making Strategies

Booth School of Business

How long?

  • 5 days
  • in person

What are the topics?

Booth School of Business

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Who should attend

This program is designed to benefit middle, upper middle, and senior level managers, who would like to enhance their influence—both internally in their organizations and externally with other organizations and vendors—by improving their negotiation and decision-making skills.

Managers in every functional area of responsibility, in all industry types, will benefit by attending this program. In particular, executives in areas such as marketing, sales, manufacturing, engineering, mergers and acquisitions, purchasing, human resources, strategy, and finance, as well as general managers who have been promoted through these routes, will find this program highly beneficial.

About the course

Learn how to negotiate hard, with integrity, using the basic influence techniques of professional negotiators. You will learn how to acquire frameworks to improve your negotiation skills, influence for success, and improve decision-making processes.

Drawing on the latest research in the psychology of judgment, you will learn how to negotiate hard with integrity, using the basic influence techniques used by professional negotiators. You will learn to recognize flaws in your negotiation and decision-making processes, develop frameworks for making sound decisions, and create a system to monitor, improve, and implement your skills.

As a mid- or senior-level manager, you will learn techniques based on the latest advancements in the field of negotiation and decision strategy that will enhance your influence within your company and with your clients and vendors.

By attending this program, you will:

  • Practice a systematic and insightful approach to negotiations and decision-making.
  • Monitor and improve your negotiation skills with personalized coaching and feedback from faculty.
  • Evaluate your performance across situations and people.
  • Learn how to adapt your negotiation approach to different situations and people.
  • Know what information is needed to negotiate effective outcomes

Program Outline

The Psychology of Judgment and Decision Making Processes

  • Framing decisions and assessing uncertainty
  • Seeking information
  • Managing uncertainty to manage risk
  • Recognizing and overcoming biases

Beginning with the Toughest: Price Negotiation

  • Negotiating hard with integrity
  • Untangling relationship building and price negotiations
  • Balancing assertiveness and empathy in negotiations

Techniques for Creating Value

  • Identifying tools for uncovering the interests of negotiation partner
  • Moving from zero-sum positions to mutually satisfying agreements
  • Quantitative preparation techniques for measuring interests
  • and tradeoffs

Influence Techniques and Problem-Solving

  • Adapting common influence tactics and defenses
  • Leveraging creative problem-solving as a negotiation technique

Coalitions, Power, and Fairness

  • Influencing outcomes when lacking formal authority
  • Strategically forming and using coalitions to build power
  • Confronting issues of equity within groups and coalitions

Organizational Decision-Making

  • Preparing for complex negotiations by designing a productive process and agenda
  • Managing joint decision-making and obtaining buy-in from large groups

Action Planning: Putting It All into Practice

  • Construct your personal negotiation strategy in one-on-one expert consultations
  • Synthesize all frameworks and hard skills developed during the week in a final multiparty negotiation exercise

Experts

George Wu

George Wu studies the psychology of decision making; decision analysis; and cognitive biases in bargaining and negotiation. Additionally, he has received research funding as part of a 3-year, $3.6 million project entitled "Enhancing the Human Experience through Behavioral Science: New Paths to Pu...

Ayelet Fishbach

Ayelet Fishbach studies social psychology, with specific emphasis on motivation and decision making. She has presented research all over the world, including at Carnegie Mellon University, Tel Aviv University, Stanford University, Yale University, and the Wharton School of the University of Penns...

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Negotiation and Decision Making Strategies at Booth School of Business

From  $10,950

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