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Master Negotiation: A Gain-Gain Approach to Profitable Negotiation
OVERVIEW:
Regardless of what you do or who you are, your ability to negotiate directly impacts your personal and professional effectiveness. Life Is A Negotiation – whether we are talking about the exchange of money, property, human capital, friendship, or who gets to pick the movie you go to tonight. Regardless of your comfort with negotiation, your level of experience or expertise, new research finds that expert and novice negotiators alike, share a set of “heuristics” or negotiator biases that lead them to ask the wrong questions, misinterpret essential information, settle for too little, accept deals that they should turn down (the winners curse), overestimate the value of negotiated agreements, and have an overconfident bias, preventing them from recognizing and learning from mistakes. For this reason, Dr. Robin Pinkley has spent the last eighteen years studying “Master Negotiators” (the most successful and elite class of negotiators) to determine what distinguishes them from other expert negotiators and applying this information to the most challenging negotiations faced by her clients.
Based on the lessons learned from Master Negotiators, the extensive research conducted by Dr. Pinkley and other world-class scholars, and the successful application of these strategies to real-world negotiations, Dr. Pinkley has created the novel Gain-Gain Approach To Profitable Negotiation. This approach is rapidly winning acclaim in the commercial industry and the press. Many now argue that the Gain-Gain Approach to Profitable Negotiation should replace the much heralded Win-Win approach because of its superior ability to enhance negotiator profitability while maintaining or improving relationships.
Participants in this seminar will be able to compare their skills to those of other negotiators who have similar knowledge and expertise through numerous negotiation simulations and role-play scenarios. The results of these simulations, along with post-simulation information about the interests of both parties, will allow participants to compare their outcomes to those obtained by:
- Their counterparts (the party sitting at the other end of the table) and their peers (those who played the same role and thus, had the same opportunities and challenges).
- Participants will be able to assess the extent to which they uncovered, created and claimed the value imbedded in the negotiation, rather than leaving it unclaimed and wasted on the table. This information will be used diagnostically to help participants identify and refine their most effective strategies and replace their counterproductive strategies with those that are more effective.
WHAT YOU WILL LEARN:
- The new and widely acclaimed Gain-Gain Approach To Profitable Negotiation
- Ways to avoid common and costly negotiator biases, while strategically managing those of the other party
- How and why first bids, counter-bids and other strategic anchors impact perceptions of value, satisfaction with outcomes and willingness to accept offers
- The important impact that real and imagined alternatives to settlement, have on perceptions of relative power
- The importance of creating a MAP the explicit and implicit value your client associates with every conceivable outcome) to guide you
- The five issue types and their implication for strategy
- The important difference between being “ethical” and being “fair”
- Their true level of negotiator expertise and mastery.
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WHAT YOU WILL GAIN:
- The seminar will expose you to the revolutionary Gain-Gain approach to strategic negotiation. This state-of-the-art approach to highly profitable yet principled negotiation can be applied to any type of negotiation including sales, purchasing, mergers and acquisitions and other inter-company and intra-company negotiations in a competitive marketplace.
- An interactive training approach will provide you with the opportunity to diagnose your current strategies. You will further develop your current strategies and replace your irrelevant or counterproductive strategies with new, more effective strategies.
- You will be taught to recognize and avoid the common decision traps made by even the most expert negotiators to enhance your ability to create and claim value in a competitive environment.
- You will learn how to recognize, inform and manage the three P’s of negotiation: playing field (the structure), perceptions and process.
- You will participate in a series of negotiation simulations that will test and refine your skills, help you to learn from the experiences of other participants and enhance your ability to uncover, create, exchange and CLAIM value for your company.
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KEY TOPICS
The Playing Field: Understanding The Rules of The Game
The playing field includes all information regarding the participants, their constituencies and companies, the market context, relative power, and potential sources of value.
- Participants will learn how to:
- Carefully prepare for the negotiation.
- Create a plan for action including a clear objective and flexible set of strategies.
- Research and diagram information regarding your company's available alternatives (alternative vendors, customers, or partners), pertinent information concerning all of the parties in the negotiation and related market information.
- Distinguish between and strategically treat the five kinds of issues imbedded in most negotiations: distributive, compatible, log-rolling, add-on, and contingency.
Perception: Understanding the Mind of the Negotiator
- Effective negotiation requires the ability to avoid the decision traps made by expert and novice negotiators alike. Participants will be taught to avoid common errors, improving their ability to negotiate rationally.
- A series of interactive games will teach participants to ignore irrelevant cues, recognize and obtain missing information and attend to relevant facts.
- Participants will be taught to understand and effectively exploit the decision traps of other parties.
- Participants will learn to:
- Take off their cognitive blindfolds and recognize their erroneous assumptions.
- Separate fact from fiction and reality from perception despite the complexity and ambiguity characteristic of competitive negotiation settings.
- Understand real versus perceived sources of power.
- Distinguish between the objective (to claim value) and the strategies used to reach that objective (to creating and claiming value).
- Be soft on the people but tough on the issues.
- Recognize, clarify and exploit the assumptions of other parties.
- Negotiate rationally while recognizing the irrationality of other parties.
- Use language, bids, reference points and information to paint truthful, but strategic pictures in the minds of the other parties.
- Enhance the other party's perception of value through the use of strategic anchors and explanations.
Process: Understanding Negotiator Strategies and the Meanings Behind The Moves.
- Strategies are only as effective as the negotiator's ability to implement them. Participants will participate in a negotiation exercise designed to help them assess how effectively they act and react during the course of negotiation.
- Careful attention will be paid to improving the consistency among participant objectives, strategies, and acquired outcomes.
- Participants will have repeated opportunities to practice negotiating on their own and as a member of a negotiation team.
- Participants will be encouraged to apply the skills and concepts covered.
- Participants will learn how to:
- Obtain, provide and withhold crucial information.
- Hear what has not been said in order to detect important information that has been omitted.
- Determine the objectives of the other parties and determine the bargaining zone.
- Keep their eye on the prize to claim substantial value while improving the business relationship.
- Enhance the perception of value and decrease the perception of cost to the other parties.
- Partner with other parties to align interests, create strategic contingencies that reduce cost and enhance benefit, and reduce barriers to settlement.
- Compose deals that create a strategic versus a costly precedent in the marketplace given market implications and the linkage between agreements.
- Evaluate own and other party sources of power and use tactics to change the power balance.
- Determine how they are perceived by members of their own team and by members of other parties.
- Deal with even the most difficult negotiators.
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WHO SHOULD ATTEND:
The Master Negotiation Seminar is for anyone who wishes to further develop their ability to negotiate successfully.
FACULTY BIO
Dr. Robin L. Pinkley, Ph.D.
Dr. Robin L. Pinkley is the Frank and Susan Dunlevy Faculty Research Fellow and Professor of Management and Organizations at the Edwin L. Cox School of Business at Southern Methodist University. In addition, Dr. Pinkley is also the founder of the M2M Center for Profitable Negotiation, focusing on negotiation research, training, consulting and deal-making. She previously served as Visiting Professor of Organizational Behavior at the J. L. Kellogg Graduate School of Management at Northwestern University. Dr. Pinkley received a Ph.D. in Social Psychology from the University of North Carolina in Chapel Hill.
Dr. Pinkley has been a frequent speaker in management development programs and a negotiation consultant for corporate and government organizations in six countries. A sample of her clients include Accenture, Allstate Insurance, ARCO, Banc-Tec Inc., Blue Cross Blue Shield of Florida, Chase Paymentech, DFB Holding Company, DPT Laboratories, General Electric, i2 Technologies, JP Morgan Chase, Kodak, Legacy Bank, Lockheed Martin Vought, Maxim Integrated Products, Macy’s, Mobil, NASA, Physician’s Leadership Association of America, Remington Hotel Corporation, SBC Communications, Sewell Motor Company, Sony Ericsson, State Farm Insurance, Staubach Real Estate Company, Southwestern Bell Company, Tandem Computers, Targetbase
Marketing Consultants, Taylor Publishing, Texas Children’s Hospital, and Yahoo!.
A subset of Dr. Pinkley’s media coverage includes interviews on CNN, ABC, CBS, NBC, Marketplace Radio (NPR), quotes in newspapers such as the Wall Street Journal, New York Times, Chicago Tribune, Washington Post, Dallas Morning News, LA Times, USA Today and quotes in magazines such as US News and World Report, Money Magazine, Fortune Magazine, Kiplinger’s Personal Finance Magazine, Redbook, Working Mother Magazine, Ladies Home Journal and D Magazine.
Dr. Pinkley was the President for the International Association of Conflict Management. She also served as a Member at Large, Program Chair and Chairman of the Conflict Management Division of the Academy of Management. She was also an Associate Editor of the International Journal of Conflict Management.
Dr. Pinkley is co-author (along with Greg Northcraft) of “Get Paid What You're Worth: The Expert Negotiators Guide to Salary and Compensation”. She is also the author or co-author of articles on negotiation and managerial conflict resolution, which appear in the Academy of Management Journal, Academy of Management Review, Organizational Behavior and Human Decision Processes, Journal of Applied Psychology, Journal of Experimental Social Psychology, Personality and Social Psychology Bulletin,Journal of Social and Clinical Psychology, and The International Journal of Conflict Management.
Dr. Pinkley's is the creator of the Gain-Gain Approach to Profitable Negotiation. Her research focuses on the sources and consequences of negotiator power, the use of strategic anchors for enhancing opponent perceptions of negotiated value, the implication of “fair” as an outcome heuristic and the strategic application of “value context theory". This research has earned Dr. Pinkley the Edwin L. Cox 1994 Outstanding Researcher Award, a Corrigan Fellowship, a Dorothy Cullum Fellowship and a Marilyn & Leo F. Corrigan Junior Faculty Endowment. She also received Southern Methodist University's Golden Mustang Award for her innovative teaching and the Carl Sewell Distinguished Service to the Community Award.
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