Successful Negotiation:

Essential Strategies And Skills

George J. Siedel
Ross School of Business
University of Michigan
 Game Plan
Course Overview
Introduction to the University of Michigan

The Four-Stage Negotiation Process:

1.0 Prepare: Plan Your Negotiation Strategy
2.0 Negotiate: Use Key Tactics for Success
3.0 Close: Create a Contract
4.0 Perform and Evaluate: Finish the End Game

Apply Your Negotiation Skills: “The House on Elm Street” Negotiation
Negotiation Contracts
 Game Plan
Course Overview
Introduction to the University of Michigan

The Four-Stage Negotiation Process:

1.0 Prepare: Plan Your Negotiation Strategy
2.0 Negotiate: Use Key Tactics for Success
3.0 Close: Create a Contract
4.0 Perform and Evaluate: Finish the End Game

Apply Your Negotiation Skills: “The House on Elm Street” Negotiation
 City of Ann Arbor
•  Founded in 1824
•  Nickname: “Tree Town”
•  116,000 residents
•  Median age: 28
•  Adult obesity rate: 27%
•  70% of adults have bachelor’s degree or higher
•  58% of adults have never married
•  Average snow = 52 inches ( 132 cm)
•  Temperature: Average high = 58 (14.5)
Average low = 40 (4)

 Ann Arbor Population
•  White 70%
•  Asian 14%
•  Black 8%
•  Hispanic 4%
•  Other 4%

79% speak only English at home

 Religious Affiliation
33% of population is affiliated with a religious congregation.
Of these:
•  Catholic 39%
•  Lutheran 10%
•  Jewish 7%
•  Methodist 7%
•  Muslim 5%
•  United Church of Christ 5%
 Ann Arbor Rankings
Top college towns #1 Smartest big city #1
(Forbes) (Bizjournals.com)

Best small cities for start-ups #1 Best digital city #1
(Business Week) (Digital Communities Magazine)

Best cities for singles #1 Most educated cities #2
(US News & World Report)
(Kiplinger Online)

Healthy hometowns in America #1 Great cities for raising families #2
(Kiplinger)
(AARP)



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 University of Michigan
Founded: 1817, with 1920 acres (777 hectares) from three Indian nations

Today: Three campuses (Ann Arbor, Dearborn, Flint)

•  60,000 students (from all 50 states and 122 countries)

•  43,000 on Ann Arbor campus (including 28,000

undergraduate students)

•  16:1 student-to-faculty ratio

•  21,157 acres (8562 hectares)

•  Over $6 billion operating expenses

–  $300 million in state support
–  Over $1 billion in research expenditures
(2nd largest of any US university)

•  Over 500,000 living alumni

Former University of Michigan Students
•  3 U.S. Supreme Court justices, 11 astronauts,
many Nobel Prize winners

•  President Gerald Ford

•  Madonna (singer)

•  Michael Phelps (Olympic swimmer)

•  Arthur Miller (playwright)

•  Larry Page (Google co-founder)

World’s Best Universities by Reputation
(Times, 2014)
1.  Harvard University
2.  Massachusetts Institute of Technology
3.  Stanford University
4.  University of Cambridge
5.  University of Oxford
6.  University of California, Berkeley
7.  Princeton University
8.  Yale University
9.  California Institute of Technology
10.  University of California, Los Angeles
11.  University of Tokyo
12.  Columbia University
13.  Imperial College of London
14.  University of Chicago
15.  University of Michigan

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 Ross School of Business
Founded: 1923, with 15 faculty and 26 degree students
Today: 3,200 degree students
126 full-time faculty, who research and teach in 8 areas:
• Accounting
• Business Economics & Public Policy
• Business Law
• Strategy
• Finance
• Management & Organizations
• Marketing
• Technology & Operations
 Undergraduate: BBA
Masters

•  Full-time MBA
•  Executive MBA
Ross School •  Global MBA
•  Part-time MBA
•  Master of Accounting
•  Master of Supply Chain Management
•  Master of Entrepreneurship
•  Master of Management

Ph.D.

Executive Education

Full-time MBA Program
450 students per year Citizenship:
Average age = 28 No. America = 69%
Female = 33% Asia = 11%
India = 11%
Latin America = 5%
Europe = 2%
Middle East = 1%
Africa = 1%
 “Typical” Negotiation Class
50% from outside the US: 50% from US:
Brazil California
China Michigan
India Missouri
Japan New Jersey
Korea New York
Russia North Carolina
Singapore Tennessee
Thailand Texas
Ukraine Virginia
Jobs After Graduation
•  Consulting: 37%
•  Finance: 20%
•  Marketing: 18%
•  General Management: 8%
•  Strategic Planning: 3%
•  Operations: 3%
•  Other: 11%
2013 median starting salary:
$112,000 (not including bonuses)
 BBA Rankings
US News and World Report

1. Wharton
2. MIT
2. Berkeley
2. Michigan
 MBA Rankings
Schools ranked in the top 10 in every Business
Week ranking for the past 25 years*

Harvard
Northwestern
Michigan
Wharton

*when the rankings were first published
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