Without good relationships with suppliers, customers and your broader networks, the day to day operations of a business can dominate your time and energy. However, as an entrepreneur, your focus needs to be on the strategy, growth and innovation of your business.
Good relationships with your stakeholders comes from an understanding that there is mutually beneficial and symbiotic relationship to be had, ensuring all parties reap the rewards. Elements for negotiation include better prices, more flexible payment terms, longer commitment on contacts, better distribution channels, more visibility and marketing.
Find the balance
Here, a careful balance is required. How do you ensure that you walk away knowing that you have negotiated the best deal for you and your organisation? How do ensure that you are comfortable and assertive without being pushy and overbearing in negotiation situations? How do you get what you want while maintaining your relationships for the future?
In recent research done by Harvard Business School, it was revealed that most executives go into a negotiation situation with dominant feelings of anxiety and anger, which can often negatively affect the outcome.
At Wits Business School, a new programme, titled The Art and Science of Negotiation, has been designed in to maximise the effectiveness of your negotiations. Combining many years of intensive research, teaching experience and practical involvement in a vast selection of negotiation situations, the course focuses on planning for, managing, and winning commercial negotiations.
Course convenor, Adorable Jacinto says, “There are three broad components to the teaching process within the course. First, factual information on negotiation concepts are discussed. Case studies are then used to elicit your insight into a variety of classical negotiation dilemmas. Carefully designed simulations and role plays are finally offered to allow you to explore and enhance your newly developed skills.”
The four day course is aimed at middle to senior level managers who have input into direct responsibility for the negotiation strategy within their organisations.
The course will enable you to:
- Understand the role of the negotiator
- Prepare thoroughly for a large range of negotiations
- Develop a negotiation strategy and formulate the agenda
- Analyse the negotiation scenario
- Understand the contents and process of a negotiation
- Understand conflict and how to deal with it
Taking place from 9-12 May, the course fee is R15 855 and takes place at WBS in Parktown, Johannesburg.