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Introduction to negotiation skills
28 November 2018
www.pwc.com.cy
Marilena Shakalli Maroudia, BSc, FCA
Tutor of PwC’s Academy
marilena.maroudia@pwc.com
PwC
Introduction to negotiation skills
Agenda
• The negotiating process
• 3Ps of negotiations: Prepare, Probe, Propose
• Negotiation tactics
• Your attitude to negotiation
PwCPwC
There are many misconceptions around negotiations:
• It’s all about getting your own way
• It’s all about obtaining the cheapest deal
• It’s all about beating the other side
Many people see negotiations as a contest where there are winners and losers.
This can be counter-productive as it prevents everyone from achieving the best
possible deal because they end up opposed to each other.
Introduction to negotiation skills
PwCPwC
“Let us never negotiate out of fear. But let us never fear to negotiate”
– John F. Kennedy
Introduction to negotiation skills
PwCPwC
Introduction to negotiation skills
The negotiating process
Probing
Discussing
Bargaining ProposingAgreement
Preparing
PwCPwC
Introduction to negotiation skills
Conducting negotiations
3Ps of Negotiations:
P repare
P robe
P ropose
PwCPwC
Introduction to negotiation skills
Conducting negotiations
Prepare
PwCPwC
Introduction to negotiation skills
Conducting negotiations
Preliminary
Clarify your objectives
Common ground
Assessing the opposition
Information needed
Consequences of non agreement
PwCPwC
Introduction to negotiation skills
Conducting negotiations
Our position
Ideal, realistic and fall back positions
Best alternative to a negotiated agreement (BATNA)
Information to obtain (got, need, nice)
Concessions – cost to us; value to them
Climate (place, time)
PwCPwC
Introduction to negotiation skills
Conducting negotiations
Rehearsal
Opening statement
Responses to likely questions
List assumptions – how to test them
Behavioural style
PwCPwC
Introduction to negotiation skills
Conducting negotiations
Emergency Plan
Even time is negotiable
Build 2-way empathy
Tomorrow is another day
PwCPwC
Introduction to negotiation skills
Conducting negotiations
Probe
PwCPwC
Probing consists of 2 elements:
• Asking questions to understand at a deeper level
• Active listening
Introduction to negotiation skills
Conducting negotiations
PwC
Introduction to negotiation skills
Conducting negotiations
Types of questions
Type Used when … Examples
Open questions
/statements
you want to open up a
conversation
Tell me more about ….
What happened next?
How did you respond?
Probing questions you want to find our
more
What were you thinking when ….?
Why do you think the other party
made this offer?
Closed questions you want to clarify
something
Did you agree?
Did you change the way you
behaved?
PwCPwC
Introduction to negotiation skills
Conducting negotiations
Propose
PwC
Introduction to negotiation skills
Bargaining continuum
• We open with our entry point. Where we are prepared to move to is our exit point.
• The distance between them is our negotiable range.
• The distance between our entry point and the other party’s is the bargaining continuum.
• If our exit points overlap, we could settle anywhere in the overlap. This is the settlement area,
also known as the Zone of Possible Agreement (ZOPA).
• If our exit points do not meet or overlap, we are unlikely
to settle.
PwC
Introduction to negotiation skills
Negotiation tactics
Never give
concessions –
always trade in
Deadlines are
always negotiable
Stress the
advantages of
your offer
Don’t push too
hard
Make use of
silence
If you are selling, start high
then trade down, if you are
buying start low then trade up
Be realistic in
your expectations
When you’ve got an
agreement leave – do not
give time for second
thoughts!
PwC
Introduction to negotiation skills
Negotiation tactics
Don’t accept a
first offer
Leave the other side
feeling they’ve got as
good a deal as you
Proposals are
always conditional
Don’t change the
price, change the
package
Agreement is always reached
through trading
Focus on the facts,
not personalities
There must be a right of
veto for true negotiating.
You can always walk away
and come back to itDo not exaggerate
PwC
Introduction to negotiation skills
Tactics to move things forward
Fragmenting Break the problems that prevent agreement into
smaller, more manageable issues
What if…? Try to suggest alternative options / solutions
By passing
Temporarily put aside an apparently intractable
issue – return to it when it seem more manageable
Concession and
trade
Never concede something without getting
something in return
PwC
Introduction to negotiation skills
Principles of closing a negotiation
To close effectively a negotiation you need to:
• Be open to closure from the very beginning of your negotiation
• Make it clear this is your final offer
• Present your offer in an upbeat confident manner
• Leave the other side some space to review your final offer
PwC
Introduction to negotiation skills
Principles of closing a negotiation
If they say ‘NO’ or haggle – move out
If they say ‘YES’ – put it in a written form which is:
• Brief
• Factual
• Concise
• Accurate
PwC
Introduction to negotiation skills
Your attitude to negotiation
Effective negotiation is 10% technique and 90% attitude!
PwC
Introduction to negotiation skills
Your attitude to negotiation
• Make sure your attitude is positive and your purpose is clear
• Believe that others have entered the negotiating process in good faith and by behaving
with integrity you set the standards for the negotiation that you wish to maintain
• In order to achieve your aims you need to keep in mind what you want. Specifically,
during a negotiation you should be:
– Convinced of your own case: this gives you confidence in your dealings
– Clear about your goal
– Able to ‘walk away’
PwC
Introduction to negotiation skills
Thank you!
This publication has been prepared for general guidance on matters of interest only, and does not constitute professional
advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No
representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this
publication, and, to the extent permitted by law, PricewaterhouseCoopers Professional Training Ltd, its members, employees
and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else
acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.
© 2018 PricewaterhouseCoopers Professional Training Ltd . All rights reserved. In this document, “PwC” refers to
PricewaterhouseCoopers Professional Training Ltd which is a member firm of PricewaterhouseCoopers International Limited,
each member firm of which is a separate legal entity.
Introduction to negotiation skills

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28112018-C4E-PwC Workshop: Introduction to Negotiation Skills

  • 1. Introduction to negotiation skills 28 November 2018 www.pwc.com.cy Marilena Shakalli Maroudia, BSc, FCA Tutor of PwC’s Academy marilena.maroudia@pwc.com
  • 2. PwC Introduction to negotiation skills Agenda • The negotiating process • 3Ps of negotiations: Prepare, Probe, Propose • Negotiation tactics • Your attitude to negotiation
  • 3. PwCPwC There are many misconceptions around negotiations: • It’s all about getting your own way • It’s all about obtaining the cheapest deal • It’s all about beating the other side Many people see negotiations as a contest where there are winners and losers. This can be counter-productive as it prevents everyone from achieving the best possible deal because they end up opposed to each other. Introduction to negotiation skills
  • 4. PwCPwC “Let us never negotiate out of fear. But let us never fear to negotiate” – John F. Kennedy Introduction to negotiation skills
  • 5. PwCPwC Introduction to negotiation skills The negotiating process Probing Discussing Bargaining ProposingAgreement Preparing
  • 6. PwCPwC Introduction to negotiation skills Conducting negotiations 3Ps of Negotiations: P repare P robe P ropose
  • 7. PwCPwC Introduction to negotiation skills Conducting negotiations Prepare
  • 8. PwCPwC Introduction to negotiation skills Conducting negotiations Preliminary Clarify your objectives Common ground Assessing the opposition Information needed Consequences of non agreement
  • 9. PwCPwC Introduction to negotiation skills Conducting negotiations Our position Ideal, realistic and fall back positions Best alternative to a negotiated agreement (BATNA) Information to obtain (got, need, nice) Concessions – cost to us; value to them Climate (place, time)
  • 10. PwCPwC Introduction to negotiation skills Conducting negotiations Rehearsal Opening statement Responses to likely questions List assumptions – how to test them Behavioural style
  • 11. PwCPwC Introduction to negotiation skills Conducting negotiations Emergency Plan Even time is negotiable Build 2-way empathy Tomorrow is another day
  • 12. PwCPwC Introduction to negotiation skills Conducting negotiations Probe
  • 13. PwCPwC Probing consists of 2 elements: • Asking questions to understand at a deeper level • Active listening Introduction to negotiation skills Conducting negotiations
  • 14. PwC Introduction to negotiation skills Conducting negotiations Types of questions Type Used when … Examples Open questions /statements you want to open up a conversation Tell me more about …. What happened next? How did you respond? Probing questions you want to find our more What were you thinking when ….? Why do you think the other party made this offer? Closed questions you want to clarify something Did you agree? Did you change the way you behaved?
  • 15. PwCPwC Introduction to negotiation skills Conducting negotiations Propose
  • 16. PwC Introduction to negotiation skills Bargaining continuum • We open with our entry point. Where we are prepared to move to is our exit point. • The distance between them is our negotiable range. • The distance between our entry point and the other party’s is the bargaining continuum. • If our exit points overlap, we could settle anywhere in the overlap. This is the settlement area, also known as the Zone of Possible Agreement (ZOPA). • If our exit points do not meet or overlap, we are unlikely to settle.
  • 17. PwC Introduction to negotiation skills Negotiation tactics Never give concessions – always trade in Deadlines are always negotiable Stress the advantages of your offer Don’t push too hard Make use of silence If you are selling, start high then trade down, if you are buying start low then trade up Be realistic in your expectations When you’ve got an agreement leave – do not give time for second thoughts!
  • 18. PwC Introduction to negotiation skills Negotiation tactics Don’t accept a first offer Leave the other side feeling they’ve got as good a deal as you Proposals are always conditional Don’t change the price, change the package Agreement is always reached through trading Focus on the facts, not personalities There must be a right of veto for true negotiating. You can always walk away and come back to itDo not exaggerate
  • 19. PwC Introduction to negotiation skills Tactics to move things forward Fragmenting Break the problems that prevent agreement into smaller, more manageable issues What if…? Try to suggest alternative options / solutions By passing Temporarily put aside an apparently intractable issue – return to it when it seem more manageable Concession and trade Never concede something without getting something in return
  • 20. PwC Introduction to negotiation skills Principles of closing a negotiation To close effectively a negotiation you need to: • Be open to closure from the very beginning of your negotiation • Make it clear this is your final offer • Present your offer in an upbeat confident manner • Leave the other side some space to review your final offer
  • 21. PwC Introduction to negotiation skills Principles of closing a negotiation If they say ‘NO’ or haggle – move out If they say ‘YES’ – put it in a written form which is: • Brief • Factual • Concise • Accurate
  • 22. PwC Introduction to negotiation skills Your attitude to negotiation Effective negotiation is 10% technique and 90% attitude!
  • 23. PwC Introduction to negotiation skills Your attitude to negotiation • Make sure your attitude is positive and your purpose is clear • Believe that others have entered the negotiating process in good faith and by behaving with integrity you set the standards for the negotiation that you wish to maintain • In order to achieve your aims you need to keep in mind what you want. Specifically, during a negotiation you should be: – Convinced of your own case: this gives you confidence in your dealings – Clear about your goal – Able to ‘walk away’
  • 25. Thank you! This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, PricewaterhouseCoopers Professional Training Ltd, its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. © 2018 PricewaterhouseCoopers Professional Training Ltd . All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers Professional Training Ltd which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity. Introduction to negotiation skills