Podcast
Questions and Answers
What are the key topics covered in Session 1 of the negotiation course?
What are the key topics covered in Session 1 of the negotiation course?
Definition and nature of negotiation, reasons for negotiating, negotiation in business contexts
Explain the concept of negotiation as a problem-solving process.
Explain the concept of negotiation as a problem-solving process.
Negotiation is seen as a process to resolve issues and reach agreements.
What is the focus of Session 2 in the negotiation course?
What is the focus of Session 2 in the negotiation course?
Understanding and evaluating what is at stake in international business negotiations
Describe the difference between an insincere and a sincere but unfounded objection in negotiation.
Describe the difference between an insincere and a sincere but unfounded objection in negotiation.
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What are some key concepts related to conflict management in international business negotiations?
What are some key concepts related to conflict management in international business negotiations?
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How can negotiation skills be used to influence customer attitudes?
How can negotiation skills be used to influence customer attitudes?
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How should you handle an insincere objection in a negotiation?
How should you handle an insincere objection in a negotiation?
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What is the recommended approach when facing a sincere but unfounded objection during a negotiation?
What is the recommended approach when facing a sincere but unfounded objection during a negotiation?
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How should you respond to a sincere and founded objection in a negotiation?
How should you respond to a sincere and founded objection in a negotiation?
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What does the vinegar-honey negotiation strategy involve?
What does the vinegar-honey negotiation strategy involve?
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How does the Good Guy/Bad Guy negotiation strategy work?
How does the Good Guy/Bad Guy negotiation strategy work?
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What is the purpose of using the defer negotiation strategy?
What is the purpose of using the defer negotiation strategy?
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Study Notes
Negotiation Sessions
Session 4: Preparing for a Negotiation Meeting
- Power cursors in international business negotiation: size, choice, information, influence
- Developing effective negotiation strategies
Session 5: Handling Objections
- Types of objections: insincere, sincere but unfounded, sincere and founded
- Handling objections:
- Insincere objection: ignore or minimize
- Sincere but unfounded objection: inform and explain
- Sincere and founded objection: understand and compensate
Session 6: Negotiating Effectively
- Strategies for effective negotiation:
- Vinegar-honey approach: start with a basic offer and add benefits
- Pinpointing needs: focus on the need and benefits
- Challenge: respond to challenges with concessions
- Limited authority: defer decision to gain time
- Good guy/bad guy: use a tough and gentle approach
- Defer: delay decision to reevaluate positions
- Maintaining negotiation lightness and building rapport
Session 7: Negotiating Under Pressure
- Techniques for negotiating in high-pressure situations
- Identifying pressure sources, managing and reducing pressure, common negotiation mistakes
Session 1: Introduction and the Role of Negotiation in Business
- Definition and nature of negotiation
- Reasons for negotiating in business contexts
- Negotiation skills to influence customer attitudes
Session 2: Understanding and Evaluating What is at Stake
- Preparing an international business negotiation scenario
- Tactics of international negotiation
- Nature of conflicts in international business
- Structure and content adaptation, price structure, and conflict management
Session 3: The Negotiation Process
- Understanding objections and argumentation in negotiation
- Setting limits and maintaining them
- Identifying and handling objections
- Argumentation strategies, evaluating and overcoming objections
- Knowing when to make concessions
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Description
Test your knowledge on the fundamentals of business negotiation, including definitions, nature, reasons, and contexts. Explore topics such as the problem-solving aspect, customer attitudes, and skills for influencing customer perceptions in negotiations.
