BDL 2225-001

2/24 -3/1 Class Discussion

Negotiating In Business Development
Slides Adapted from Chapter 7, Mastering Global Business Development,
By T. Cook
Why Study Negotiations?
“Negotiation is a skill set ... few “master”. Those that do are more
success-ful than those that don’t. We study negotiation, because that
skill set opens the door to having the best opportunity for ourselves and
our company to achieve our mutually synched goals.”

Thomas A. Cook. (2021). Mastering Global Business Development and

Sales Management: Vol. First edition, CRC Press
Skill Sets Required To Develop Effective
Negotiating
Leader- Compromise Emotional Intelligence
ship

Problem Resolution Mining Organization

Communication Presentation Relationship Builder

win-win
Mining

Source: Ch.7, Pg.166, MASTERING GLOBAL BUSINESS

DEVELOPMENT by T. Cook
Negotiating – Further Description

• Honesty • Organized

• Empathy • Forthright

• Knowledgeable • Motivating

• Integrity • Open &

Transparent
• Aggressive
• Responsible
 Emotional Intelligence – A Key for
Successful Negotiating
• EQ is the distinguishing factor that determines whether we make
lemonade when life hands us lemons or whether we spend our life in
bitterness.
• EQ is the distinguishing factor that enables us to have wholesome,
warm relationships or cold, distant ones.
• EQ is the distinguishing factor between finding and living our lives’
passions or just existing

Source: Ch.7, Pg.168-172, MASTERING GLOBAL BUSINESS

DEVELOPMENT by T. Cook
 Emotional Intelligence – Leaders Have It
• They see the big picture while paying attention to vital details
• Get others to be their best
• See themselves realistically and are able to get others to be honest with themselves and peers around them
• Recognize that health is everything, both physical and emotional
• Listen to understand, not to respond
• Can command others if necessary, but prefer to be respectful
• Don’t sweat the small stuff
• Take prudent risks
• Approach every day with a can-do positive mindset
• Know when to delegate, mentor, and lead
• Create win-win scenarios
The Best Sales Professionals Use EI
• To Develop Quality Relationships
• Understand why customers behave the way they do
• Influence the client in a positive way
• Lead the customer to a favorable place for both parties
• Resolve Problems more easily
• Negotiate Deals better than most of their peers
• Make great people managers
Building Relationships
• Have confidence in one another
• Establish trust
• Minimize difference so they can be bridged

Thomas A. Cook. (2021). Mastering Global Business Development and Sales Management: Vol. First edition. CRC Press .
What Is “Win-Win?”
•The concept of creating a “win-win” in negotiations is as old as is modern man.
•You want to enter every negotiation with a mindset of “winning” but one where both sides and/or
all parties come out winning.
•This concept is a distinguishing factor of “mindset” that then creates the best path forward where
at the end of the negotiation, all parties walk-away as they have made some gain.
•Perhaps with compromise ... but with gain.
•A “win-win” approach will also establish “trust” between the negotia-tors as the other side will
perceive you are trying to create mutuality in benefit for both sides.
•You want the person on the other side of the table ... to feel and sense that you are not one sided
and are working towards something that pro-vides mutual benefit

Thomas A. Cook. (2021). Mastering Global Business Development and Sales Management: Vol. First edition. CRC Press.
Compromise – A Bad Word?
• Most negotiations will result in a resolution where the parties involved
both gain what they want and compromise to some extent what they
completely wanted.
• As long as the compromises are balanced, transparent, and agreed to,
they tend to be part of a totally successful negotiation initiative.
• Compromise is frequently seen as “weakness” by many who are on the
outside of the negotiations, and do not appreciate the full back and forth
between the parties. They assume their position is reasonable and
should not result in stalemates or obstacles that require compromise.
Thomas A. Cook. (2021). Mastering Global Business Development and Sales Management: Vol. First edition. CRC Press.
Communication Is Key To Successful
Negotiations
• Communicating timely and responsibly by all the vested parties and
sides to a negotiation is another important element to creating the
best oppor-tunity for a successful negotiation.
• It demonstrates a good sense of responsibility and keeps everyone
both informed and on the same page.
• Additionally, you generally have a need to move the negotiation along
an agreed process ... good communications allow that to happen
better. Communication can be accomplished by:
• Personal meetings, Conference calls, Emails, Webinars, Other agreed methods
Thomas A. Cook. (2021). Mastering Global Business Development and Sales Management: Vol. First edition. CRC Press.