Preparation Stage of the Negotiation Process

A large part of the success of your negotiation will come from the preparation stage. This is where you think about the outcome you want from your negotiation.

And there is a lot to prepare. So, in this video I will take you through all the things you need to include in your negotiation preparation.

The Preparation Stage is the first step in the basic negotiation process.

Watching this video is worth 4 Management Courses CPD Points*.
(See below for more details)

This video is part of course module number 5.2.1
Program 5: Managerial Skillset
Course 2: Negotiation
Section 1: Basic Negotiation Process

Other videos about the Fundamental Model of Negotiation include:

After this set, look out for 5.2.2 - Key Concepts on Negotiation

LESSON NOTES
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The three key things to consider in your preparation, ahead of negotiating, are:
1. Goal: What you want to achieve
2. Objectives: Measures of success
- What?
- How much?
- Conditions?
3. What is your bottom-line, your walk-away limit?
BATNA = Best Alternative to a Negotiated Agreement

Scope for Negotiation
. Compare what you want with what you believe they want
. What are your areas of flexibility?
. This gives you your negotiating parameters.
. The important thing is to know the value of each thing:
- To you
- To them

Start negotiating with a high initial position
. Don't prepare to compromise before you have to
. You need 3 positions:
- an initial (ideal) position
- a target (realistic) position
- a BATNA (fall-back)

Research before negotiating
- History
- People
- Context
- Culture
- Politics
- Data

Plan your negotiation process
- Options and alternatives
- Concessions
- Issues
- Long-term considerations
- Meeting tactics
- Location
- Sequence
- Opening
- Handling set-backs
- Team roles (future video)

RECOMMENDED EXERCISE
======================
1. Ahead of your next negotiation, create your own Negotiation Preparation Checklist in your Negotiating Notebook. Like a set of preflight checks, this should contain everything you need to do before starting the negotiation. Use the content of this video as a framework, and add to it from your own experience. (2 MC CPD Points)
2. Next time you have a negotiation coming up, work through your checklist. Tick off items as you complete them and document your conclusions. Amend and improve your checklist as you go. (4 MC CPD Points)

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Management Courses Continuing Professional Development (CPD) Points
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Each video has two levels of MC CPD points. For this video:
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- If you also carried out all of the recommended exercises, score a total of 10 MC CPD points
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#Negotiation #ManagementCourses #ManagementTraining

[ManagementCourses]

You've heard the expression 'failing to prepare is preparing to fail'? In negotiation, it's true. So here are all the things you need to cover, if you'd rather prepare to succeed!

[Tae]

Thank you. Your tips are very beneficial

[aratayutaka]

Theobjective should be specific, meaningful, achievable, responsible, timeframe