Lecture

Negotiation Techniques: Fundamentals and Strategies

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In course

MGT-466: Negotiation techniques

This course is designed to give you a practical, hands-on opportunity to learn the basics of negotiating, self leadership and the impact of culture. Strategies and techniques are presented and practiced that will enable you to develop your skills and becom ...

Description

This lecture covers negotiation fundamentals, techniques, and strategies. It starts with an overview of arbitration, salary negotiation, and decision-making processes. The instructor discusses different negotiation approaches, planning strategies, and dispute resolution methods. The lecture emphasizes the importance of effective planning, setting goals, and defining interests in negotiation. It also explores the concept of power dynamics, interests vs. positions, and the role of authority in decision-making. Additionally, the lecture delves into the UN Guiding Principles on Business and Human Rights, emphasizing the importance of corporate responsibility and access to remedy. The session concludes with a discussion on sources of civic power and the significance of taking action in negotiation scenarios.

Official source

Related concepts (23)

Dispute resolution

Dispute resolution or dispute settlement is the process of resolving disputes between parties. The term dispute resolution is sometimes used interchangeably with conflict resolution. Prominent venues for dispute settlement in international law include the International Court of Justice (formerly the Permanent Court of International Justice); the United Nations Human Rights Committee (which operates under the ICCPR) and European Court of Human Rights; the Panels and Appellate Body of the World Trade Organization; and the International Tribunal for the Law of the Sea.

Negotiation

Negotiation is a dialogue between two or more parties to resolve points of difference, gain an advantage for an individual or collective, or craft outcomes to satisfy various interests. The parties aspire to agree on matters of mutual interest. The agreement can be beneficial for all or some of the parties involved. The negotiators should establish their own needs and wants while also seeking to understand the wants and needs of others involved to increase their chances of closing deals, avoiding conflicts, forming relationships with other parties, or maximizing mutual gains.

Decision-making

In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action.

Alternative dispute resolution

Alternative dispute resolution (ADR), or external dispute resolution (EDR), typically denotes a wide range of dispute resolution processes and techniques that parties can use to settle disputes with the help of a third party. They are used for disagreeing parties who cannot come to an agreement short of litigation. However, ADR is also increasingly being adopted as a tool to help settle disputes within the court system.

Negotiation theory

The foundations of negotiation theory are decision analysis, behavioral decision-making, game theory, and negotiation analysis. Another classification of theories distinguishes between Structural Analysis, Strategic Analysis, Process Analysis, Integrative Analysis and behavioral analysis of negotiations. Negotiation is a strategic discussion that resolves an issue in a way that both parties find acceptable. Individuals should make separate, interactive decisions; and negotiation analysis considers how groups of reasonably bright individuals should and could make joint, collaborative decisions.

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