Business Negotiation: Strategy &

Practices
Course Focus
• We all negotiate on a daily basis. On a personal level, we negotiate
with friends, family, landlords, car sellers and employers, among
others. Negotiation is also the key to business success. No business
can survive without profitable contracts. Within a company,
negotiation skills can lead to your career advancement. Through this
course, you’ll learn the strategies and skills that can lead to
successful negotiations in your personal life and in business
transactions.
Basic Steps of Successful Negotiation
• Prepare: Plan Your Negotiation Strategy
• Negotiate: Use Key Tactics for Success
• Close: Create a Contract
• Perform and Evaluate: The End Game
Preparing for Negotiation
Can you go into Burger King or Pizza
Hut and get a bargain?

Please write down on a piece of paper

 1. Do we need to negotiate?
The answer largely depend on your personality type. And also we need
to consider the cost benefit analysis. And of course the consideration of
the associated risk to negotiation
2. Is it a position or interest based
negotiation?

• is it position-based or interest-based? 
• Traditionally, negotiations were very much positional. 
• I take one position. 
• I want a high price. 
• You take the other position, low price. 
• And then we fight over whether the price is a high price or low price
or maybe something in the middle
 The Pizza Case
Position-based, as we just discussed, versus interest-based. My personal favorite
is dividing the pie could be called claiming value, as opposed to enlarging the
pizza, which is creating value. And so somehow you have to cut through all this
verbiage and keep in mind the central issue, which is what type of negotiation
am I involved with, is it dividing the pie or enlarging the pie, and that will help
shape your strategy. If it's a negotiation that creates opportunities for building a
larger pizza, then you'll want to spend a lot more time searching for mutual
interests that enable you to do this.
3. A Dispute Resolution or Deal Making
Negotiation?
Key differences between dispute resolution
and deal making
Dispute Resolution Deal Making
Backward Looking Forward Looking
Position Based Interest Based
Adversarial Problem Solving
Alternative Dispute Resolution (ADR)
• Arbitration
• Mediation
• Negotiation

These are alternative to Litigation

• we think about the distinctions between dispute resolution and deal
making. I encourage you to search for interests, even when you're in a
dispute resolution negotiation.
• It's important to understand the six types of dispute resolution.
• And the three lenses that you can use for looking at these types.
- The ADR lens,
- the third party processes lens and
- the power/rights/interests lens
- And finally, consider using dispute resolution processes for deal making,
such as mediation and arbitration.
Analyzing the negotiation
• This question is so important that I'm breaking the discussion into
three segments. 
• First of all, what questions should I ask to complete an analysis? 
• Second, what is my BATNA in a dispute resolution negotiation? 
• And finally, how can I use an especially valuable tool called a decision
tree to complete a BATNA analysis, regardless of whether it's a
dispute resolution negotiation or a deal-making negotiation. 
6 processes of dispute resolution
1. Avoidance
2. Negotiation
3. Mediation
4. Arbitration
5. Litigation
6. Power
Case of Pooja – selling the car
And that is how can I conduct a negotiation analysis? How
should I analyze a negotiation?
BATNA
Decision Tree