Sunday, September 8, 2013

Solving Problems

15.667 Negotiation and Conflict Management

Negotiation and Conflict Management presents negotiation theory – strategies and styles – within an employment context. 15.667 meets only eleven times, with a different topic each week, which is why students should commit to attending all classes. In addition to the theory and exercises presented in class, students practice negotiating with role-playing simulations that cover a range of topics. Students also learn how to negotiate in difficult situations, which include abrasiveness, racism, sexism, whistle-blowing, and emergencies. The course covers conflict management as a first party and as a third party: third-party skills include helping others deal directly with their conflicts, mediation, investigation, arbitration, and helping the system change as a result of a dispute. Learning and grading in 15.667 is based on: readings, simulations and class discussions, four self-assessments, your analysis of the negotiations of others, writing each week in your journal, and writing three Little Papers.

This course is designed to provide you with a competitive advantage in negotiation. You will learn and practice the technical skills and analytic frameworks that are necessary to negotiate successfully with peers from other top business schools, and you will learn methods for developing the powerful social capital you will need to rise in the executive ranks of any organization. In this course, you will learn to successfully face the challenge of negotiating materially rewarding deals while also building your social capital. You will work with training materials on leadership and relationship building that have been used with over 200 principals and partners in international professional service firms (40% were non-US nationals), and a social capital assessment tool used by these executives to receive feedback from senior partners and over 2000 clients. In addition, you will have the opportunity to participate in a lunchtime workshop on "Leadership and Emotional Intelligence" led by an executive coach, Charles Wolfe of Charles J Wolfe Associates. Overall, this course is designed to enhance your ability to negotiate within the context of an ongoing relationship. As a manager, consultant, or professional service provider you will negotiate with your counterparts, team members, clients, and subordinates on an ongoing basis. Further, in today's less hierarchical organizations, you will be forced to negotiate with others to get your work done. Every time a project falls behind, critical new information is uncovered, or the competitive landscape of your industry changes, you will need to renegotiate tasks, plans, goals, or fees with your key stakeholders. In sum, we will focus both on the analytic tools necessary to become a highly successful negotiator and on the relationship building skills necessary to negotiate deals that will enhance your social capital, your ability to lead others, and your book of loyal clients

There are at least 10 “Negotiation Profit Centers™” in today’s businesses. In these units earnings and savings can evaporate because people are negotiating without awareness of the best techniques.

The salesperson that learns how to sell value instead of price will avoid discounting, preserving your profit margins.

A 5% improvement in the purchasing executive’s negotiation skills can translate into a 5% or greater reduction in your corporate-spend. If your outflow is $10M, this means a potential half-million dollar payback, in the first year.

It can cost six-times or more to earn a new customer than to keep one on the books. Customer service people that properly negotiate policies, procedures, fees, and charges will reduce costs, avoid refunds, and save clients and customers while preserving goodwill.
Give Yourself a Raise!  
After our training, participants also report major improvements in resolving and avoiding interpersonal conflicts. They negotiate better for big-ticket items such as housing, cars, and education. Our program’s graduates thank their companies for sponsoring training that imparts skills and self-confidence, abilities that make paychecks stretch farther and careers more rewarding.