Negotiating More Effectively

Negotiating skills can be critical in acquiring companies, hiring key executives, negotiating vendor or customer pricing, resolving disputes and cutting win-win deals with business partners. Does your company have a systematic approach to negotiating major issues? Would your employees benefit from training in how to be better negotiators? Much research has been done on the most effective styles of negotiation, with certain basic principles emerging. We are prepared to adapt and customize this literature into an approach appropriate for your company and industry. The end result might be a series of training workshops for your people that include simulated negotiations and role playing exercises. For example, different degrees of pricing latitude might be allowed to managers at different organizational levels, depending on their experience and training.

Chandler has developed an A-B-C approach to negotiating that identifies three or more benchmark negotiating positions and prices them out using analytical models, before ever sitting down with the counter party. We recommend training your people in our ten principles of effective negotiation, which can be applied profitably to all situations. Concepts such as “BATNA”—knowing your counter party’s best alternative to a negotiated agreement—will be explained and applied in your particular industry setting.

Chandler has given numerous lectures to business executives and MBA students on how to negotiate more effectively.  For a West Coast commercial lender, he developed a training workshop on negotiating bank credit lines that required three half day sessions over a three week period.  Whatever time you devote to improving your organization’s negotiating skills can yield benefits worth many times the investment in training. In such a high leverage discipline, it makes sense to formalize your company’s approach and hone your collective skills using the best advice available.