I have enjoyed this course. I am also understanding that if 365 Datascience uses the sauce of all of their collective courses they will successfully move forward.
The most common mistake when walking into negotiations is to lack proper preparation and a clear roadmap. In the business context, this could lead to harmful outcomes, including destroying the relationship and losing money or assets. This course will teach you how to handle negotiations effectively. You will learn how to determine a BATNA, or best alternative to a negotiated agreement, set a reservation point, and make the best use of the bargaining range. By the end of the negotiation training, you will be able to assess the other party and expand the value for both sides. We will discuss topics like building trust and repairing it when it’s broken, as well as handling aggressive and unfair negotiators.
This course aims to improve your negotiation skills. Negotiation techniques are far from the traditional “split the difference” approach. To be a successful negotiator, one needs a solid preparation in universal principles that can be applied in any type of situation when two or more parties must find a mutually beneficial solution.
In this section of the Negotiation course, we explain why this is a core management skill and how to avoid the most common pitfalls that make people ineffective negotiators. Then, we move on to the must-have preparation before you sit at the negotiating table.
There are a few critical components to a successful negotiation, which are often neglected. This section covers a few of them: BATNA (best alternative to a negotiated agreement), reservation point, and the bargaining range.
Preparation is the key to becoming an effective negotiator. It is the make or break of the outcome. In fact, we could say that about 80% of your effort should go into the preparation stage. The remaining 20% is the actual work you put in during the negotiation.
In this section of the Negotiation course, you will learn about distributive negotiations (slicing the pie), distributive strategies (pie-slicing), interest-based bargaining, interest-based negotiation methods, and claiming. Finally, we explain how to choose the correct approach.
In this section, we describe the five most common tactics negotiators use to gain an advantage. Knowing these can help you identify and parry them quickly.
The last part of the Negotiation course is a real-life case study — the negotiation between Disney and Lucasfilm. In this case study, you will observe the different types of techniques Robert Iger and George Lucas used to negotiate a $4 billion deal.
“Negotiation is a core skill, which has an impact on every area of your life. It is not a skill few were born with, but an expertise you can acquire through practice and research.”