Last updated : 27 Oct 2016

Successful Negotiation: Essential Strategies and Skills

Summary

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.

Programme

Week 1

  • Welcome to Successful Negotiation!
  • Introduction and Overview

Week 2

  • Prepare: Plan Your Negotiation Strategy
  • Course Materials
  • Should I Negotiate? Position Based and Interest Based Negotiation
  • A Dispute Resolution or Deal Making Negotiation?
  • Analyzing the Negotiation
  • Best Alternative to a Negotiated Agreement
  • Cross-Cultural Negotiations
  • Ethical Issues and Standards
  • Agents

Week 3

  • Negotiate: Use Key Tactics for Success
  • Course Materials
  • Getting to Know the Other Side and Using Power in Negotiations
  • Psychological Tools: Introduction and Mythical Fixed Pie Assumption
  • Anchoring, Overconfidence, and Framing
  • Availability, Escalation, Reciprocation, Contrast Principle, and Big Picture Perspective

Week 4

  • Close: Create a Contract
  • Course Materials
  • About Contract Law
  • Creating Contracts
  • Business vs. Legal Objectives in Contracting

Week 5

  • Perform and Evaluate: The End Game
  • Course Materials
  • Dispute Prevention
  • ADR Concepts and Tools
  • Arbitration
  • Mediation
  • Contract Performance Review and Evaluation

Week 6

  • Practice Your Negotiation Skills
  • Your Negotiation Exercise
  • Course Materials
  • Planning for Negotiation and Negotiation Tactics
  • Psychological Tools, Creating and Performing the Contract, and Building a Larger Pie

Week 7

  • Final Examination

Learning outcomes

In this course, you’ll learn about and practice the four steps to a successful negotiation, with one module for each step:

(1) Prepare: Plan Your Negotiation Strategy

(2) Negotiate: Use Key Tactics for Success

(3) Close: Create a Contract

(4) Perform and Evaluate: The End Game

Teaching-Learning methodology

Videos, disscussion forums, readings, tests.

Assessment

To successfully complete this course and improve your ability to negotiate, you’ll need to complete the following three steps:(1) Watch the short videos (ranging from 5 to 20 minutes) for the each module. The videos are interactive and they include questions to test your understanding of negotiation strategy and skills. Videos can be sped up or slowed down to match your preferred pace for listening. Depending on your schedule, you can watch the videos over a few weeks or you can binge watch them. A student who binge-watched the course concluded that “It’s as good as Breaking Bad.”(2) Test your negotiation skills by completing the negotiation in Module 6. You can negotiate with a local friend or use Discussions to find a partner from another part of the world. Your negotiation partner will give you feedback on your negotiation skills. Along the way you may find it helpful to use this free mobile app that is related to the course and contains many negotiation planning tools: http://negotiationplanner.com/(3) Take the final exam. To successfully complete the course, you must answer 80% of the questions correctly. The exam is a Mastery Exam, which means that you can take it as many times as you want until you master the material.

  • Soft skills Negotiation
  • Language English
  • Other languages (eg. Subtitles) Ukrainian, Chinese (Simplified), Portuguese (Brazilian), Russian, Spanish
  • Period of activation Self-paced
  • Date Unknown
  • Duration 7 weeks (8.5 hours of videos)
  • Level of commitment required Unknown
  • Cost Free MOOC, Paying certification * See platform for details
  • Providing institution University of Michigan
  • Mooc Platform Coursera
  • Target group Unknown
  • Instructor George Siedel
  • Level of assistance offered Discussions forums for participants.
  • Keywords Negotiation skills