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Negotiation 101 Webinar Honeywell Mentoring Program 2017

© Australian Mentor Centre, 2004 – 2017. 1

NEGOTIATION 101Practical webinar topics to enhance your mentoring conversation.

WELCOME

Welcome:

Caroline, Amanda and Morgan

Mentees AND Mentors

Partnerships

Your tour guide today:

Gilly Johnson

Education, Defence Force, Business, Beef farmer and rugby entrepreneur

17 years in business, with 12 of these dedicated to mentoring (and I only look 25 according to my daughter!)

Worked across Australia with individuals from graduates to senior executives, across all types of industries and professions

My passion: encouraging you to make the most of a mentoring opportunity bylearning to grow and develop great mentoring conversations and relationships.

© AUSTRALIAN MENTOR CENTRE, 2004 - 2017. EXCEPT WHERE NOTED BY EXTERNAL LINKS, SOURCES AND AUTHORS. 2



TODAY’S MENU

Engaging in the webinar – don’t sit back there and check your emails

Linking this webinar to YOUR mentoring partnership

Negotiation 101 unplugged:

What do we mean by the term negotiation?

What are the elements of successful negotiation?

What are the different styles of negotiation?

What are the skills required to be successful at negotiation?

How do you prepare for a negotiation activity?

What does negotiation look like in action?

How does your personal brand contribute to your negotiation competency?

How can you include negotiation as a topic in your mentoring conversation?

Who are the thought leaders to consider in this topic.


Activities include:

• Content information

• Chat discussions

• Polls

• Personal reflections

• Actions to take forward

LINKING TO YOUR MENTORING PROGRAM

N 101

360 activity by mentees

Mentoring agreement

Mentoring conversations

Mentoring areas of

focus (goals)


Honeywell 360 Degree Feedback Survey:To gather anonymous feedback on the participants behaviours frompeers, managers etc to highlight development areas.

Webinars

• First 100 Days

• Personal Branding

• Networking

• Negotiation

• Last 50 Days



QUESTIONS YOU ASKED ABOUT NEGOTIATION

Obviously going into a negotiation you set yourself a level that defines whether you are successful. If you compromise in the negotiation is that viewed as unsuccessful?

Key strategies to negotiate with people with different styles.

How to 'see' the best outcome to ensure 'win / win' outcomes.

How do you negotiate when you don't think it will be an open conversation?


‘For a long time, I’ve been puzzled by the fact that some people who

have been negotiating for 20 years or more have no interest in

developing their negotiating skills. One such person asked, "What can

you teach me? I’ve got 28 years of experience!" Then I discovered

that what he really had was one year of experience, repeated 28

times. That is not the same as 28 years’ experience.’ (~Keld Jensen)

NEGOTIATION TO ME MEANS …

Let’s dive right into the chat facility …

Please share words, phrases or quotes that you might use to describe to another person how you would define/describe negotiation …




LIFE AND NEGOTIATION

‘Life is a series of negotiations.

Whether we realize it or not, we negotiate all day, every day. At work, it’s contract terms, hiring, firing, defining deadlines, rallying the team, creating partnerships,

dissolving them. At home, the negotiations continue – over who will clean the house, or handle school pick up and drop off the kids; enforce kids’ screen time, or decide how much to save and how much to spend. From the major to the mundane, the lists go on.

Simply put, we’re always negotiating something.’

(Jared Curhan)

https://www.forbes.com/sites/halgregersen/2016/05/02/mastering-difficult-situations-through-negotiation-in-life-and-at-work/#37281e1753c1


WHAT DO WE MEAN BY NEGOTIATION


Negotiation – Latin for ‘doing business’

Negotiation – noun

Negotiation – ‘discussion aimed at reaching agreement’

Negotiation – dynamic human behaviour

www.dictionary.com


http://www.dictionary.com/



THEORY & TERMINOLOGY OF NEGOTIATION

Theoretical approaches to negotiation have included: Theories related to the game theory approach. Related to work by Von Neumann and Morgenstern

(1944), and then expanded by Rapoport and his associates (1964, 1976, 1984). Focussed on fixed sum outcomes – winners and losers.

Bilateral monopolistic theory approach – addresses real life situations BUT only with omitted or strictly controlled parameters (eg. no allowance for individual complexities)

Different theories of non-mathematical nature – includes research based on systems theory, transactional analysis and includes case studies, interviews etc.

BATNA is an acronym to understand in the theory of negotiation – it stands for:

Best Alternative To a Negotiated Agreement

This phrase was coined by Roger Fisher and William Ury in their 1981 bestseller, Getting to Yes: Negotiating Without Giving In.

PLUS …

ZOPA stands for: Zone of Possible Agreement AND WATNA stands for: Worse Alternative To a Negotiated Agreement


WHEN DO YOU NEGOTIATE?

Think about the last five days and identify three times that you have negotiated (in some way shape or form! )

Then share the following for one of the situations:

What were the contexts of your negotiation – home, role, team, business unit, company …

What went well?

What would you do differently next time?




AN INTERESTING BOOK & REVIEW …


‘The idea of not arguing over positions (I want $X as a salary, Y days of vacation, and a pony) and focusing instead on interests (I

value fair compensation, flexible schedules, and cute transportation) might help people avoid or break out of negotiation deadlocks. Also useful is the reminder that

negotiations don’t have to be the competitive I-win-you-lose head-on collision that people often see it to be, and that a

cooperative approach is more likely to get you to where you want to go by getting other people to where they want to go.’

http://sachachua.com/blog/2012/03/visual-book-notes-getting-to-yes-negotiating-agreement-without-giving-in/

Elements of Successful Negotiation

© AUSTRALIAN MENTOR CENTRE, 2004 - 2017. EXCEPT WHERE NOTED BY EXTERNAL LINKS, SOURCES AND AUTHORS. 12http://sachachua.com/blog/wp-content/uploads/2012/03/book-getting-to-yes.png



Negotiation Styles


Negotiation Skills


http://businesszone.ghqtfco9k6baqenwtb.netdna-cdn.com/wp-content/uploads/2015/08/NegotiationSkills.pdf

http://businesszone.ghqtfco9k6baqenwtb.netdna-cdn.com/wp-content/uploads/2015/08/NegotiationSkills.pdf



Negotiation In Action


Jared Cohan suggests …

• Plan ahead to ask the right questions

• Look for common ground rather than

sources of conflict

• Keep a positive perspective

• Do your homework

www.forbes.com/sites/halgregersen/2016/05/02/mastering-difficult-

situations-through-negotiation-in-life-and-at-work/#37281e1753c1

TIPS FOR NEGOTIATION SUCCESS

1. Break down mental barriers

2. Build negotiation expertise into your company culture

3. Vision: focus forward

4. Being selective betters progress. Choosing the right negotiator is imperative.

5. Implement the win-win concept in your business – and be a winner yourself.

6. Create NegoEconomics – don’t lose sight of concrete growth potential. This means taking a longer, broader view: having a good grasp of the broad, general picture; seeing tasks and projects in their proper contexts; discerning patterns; spotting new opportunities and hidden potentials.

7. Put SMARTnership on your company’s agenda. The way to SMARTnership embraces complete success and complete failure, every mistake and every insight.

www.forbes.com/sites/keldjensen/2014/09/20/keld-jensens-7-negotiation-tips-for-success/#5b7c8d646f38



http://www.forbes.com/sites/keldjensen/2014/09/20/keld-jensens-7-negotiation-tips-for-success/#5b7c8d646f38



A QUICK CASE STUDY – LET’S WORK IT UP

STEP 1

What is a common negotiation scenario at Honeywell that you feel could be strengthened OR that you find challenging?

Pop them into the chat facility and we will choose some to review.

STEP 2

Reflecting on the content of this webinar to this point, what advice OR changes could you suggest to strengthen this common negotiation scenario?

STEP 3

Let’s work this up …


THE STORY OF 5 MONKEYS – KELD JENSEN …


Keld Jenson @ www.forbes.com/sites/keldjensen/2016/10/31/the-experiment-what-do-five-monkeys-have-to-do-with-negotiations/#61803678498d

http://www.forbes.com/sites/keldjensen/2016/10/31/the-experiment-what-do-five-monkeys-have-to-do-with-negotiations/#61803678498d



A GOOD VIDEO TO WATCH

Jared Curhan put it like this:

“Negotiation is a source of empowerment. It’s how we achieve things in the world.”

Sloan Distinguished Professor of Management and Associate Professor of Organization Studies at the Sloan School of Management

www.youtube.com/watch?time_continue=18&v=bnPtfF_Kcs8


PERSONAL BRAND & NEGOTIATION


www.featherfactor.com/2012/07/tips-on-negotiation.html/leo-cullum-remember-in-this-negotiation-you-re-the-

paula-abdul-new-yorker-cartoon

What role might your personal brand

have on negotiation activities?

Let’s chat about this for a moment.

Consider if from how you feel about your

personal brand AND how others might see it.

http://www.youtube.com/watch?time_continue=18&v=bnPtfF_Kcs8

http://www.featherfactor.com/2012/07/tips-on-negotiation.html/leo-cullum-remember-in-this-negotiation-you-re-the-paula-abdul-new-yorker-cartoon



MORE THOUGHTS TO PONDER …

Negotiation and PATIENCE …

‘Patience equals time, and more time may mean better negotiation outcomes. Patience is the supertactic of negotiations precisely because it gives you the power of time. You need time to understand what exactly is being offered and what the risks are. With more time, you can discover strengths and weaknesses. The bottom line is that patience brings more information to the table.’

www.karrass.com/en/blog/patience-in-negotiations/

14 RULES for Negotiation (here’s 3)… Don’t say yes too quickly

Stop hoping for the best

Shut up (!)

www.karrass.com/en/blog/rules-of-negotiations/


TIPS FOR YOUR MENTORING CONVERSATION

Negotiation

Mentee reflections into negotiation

Current negotiation competency

Desired future negotiation competency

+ mentor insights

Current-desired GAP – identify

actions


https://www.karrass.com/en/tip-27/

http://www.karrass.com/en/blog/patience-in-negotiations/

http://www.karrass.com/en/blog/rules-of-negotiations/



IN A FORMAL SENSE …

Graduate Certificate in Negotiation Australian Catholic University

www.gooduniversitiesguide.com.au/course-provider/australian-catholic-university-acu/graduate-certificate-in-negotiation

Australian Institute of Management Negotiation Skills Course

www.aim.com.au/courses/negotiating-skills

Australian Mediation Association ** Specialists in preventative law

http://ama.asn.au/

Australian National Mediator Accreditation Standards

** http://www.differencebetween.com/difference-between-negotiation-and-vs-mediation/**


THAT’S A WRAP FOLKS

Nelson Mandela once said,

“A good head and a good heart are always a formidable combination.”

~

A master negotiator, Mandela achieved his life goal of ending apartheid in South Africa and improving the lives of black South Africans. Some of the negotiating lessons we glean from this report are:

Speak the language of the other party

Keep your cards very close to the vest

Do not doubt your chance at success

Be prepared

Project confidence

Do not be coerced into making unnecessary compromises and/or concessions


https://www.gooduniversitiesguide.com.au/course-provider/australian-catholic-university-acu/graduate-certificate-in-negotiation

http://www.aim.com.au/courses/negotiating-skills

http://ama.asn.au/

http://www.differencebetween.com/difference-between-negotiation-and-vs-mediation/**



MANAGING YOUR PARTNERSHIP INTO 2018Tips for managing your partnership through to 2018

Have a final catch up meeting for 2017 – review progress to date

Keep doing

Stop doing

Start doing

Identify a short list of activities for the mentee to reflect upon over close down/annual leave time

Identify any potential new areas for working on in 2018 OR changes to the mentee’s work role that may provide opportunities for development

Agree upon a date for your first meeting in 2018 and commit this to your diary

The key – don’t lose traction over the transition between 2017 and 2018 when you may have more time in between your

mentoring conversations.


DON’T FORGET TO LOG IN TO THE HUB!




TAKE HOME MESSAGES – A SHORT POLL

Take a moment of reflection and then please complete the short poll …

And wishing you …


BIBLIOGRAPHY-SOURCE LIST-LINKS

https://www.slideshare.net/SEBINCHACKO1/negotiation-types-preparation-of-negotiation

http://purchasingpractice.com/developing-a-differentiated-negotiation-strategy/

http://www.businessphrases.net/negotiation-skills/

https://www.google.com.au/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=0ahUKEwiouq2KtrrXAhWLm5QKHYrDAUQQjRwIBw&url=http%3A%2F%2Fkeywordsuggest.org%2Fgallery%2F322769.html&psig=AOvVaw1SBnorRAkZkMn7cx47oSPI&ust=1510623659109592

https://www.pon.harvard.edu/freemium/batna-basics-boost-your-power-at-the-bargaining-table/

https://www.pon.harvard.edu/blog/



https://www.slideshare.net/SEBINCHACKO1/negotiation-types-preparation-of-negotiation

http://purchasingpractice.com/developing-a-differentiated-negotiation-strategy/

http://www.businessphrases.net/negotiation-skills/

https://www.google.com.au/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=0ahUKEwiouq2KtrrXAhWLm5QKHYrDAUQQjRwIBw&url=http%3A%2F%2Fkeywordsuggest.org%2Fgallery%2F322769.html&psig=AOvVaw1SBnorRAkZkMn7cx47oSPI&ust=1510623659109592


https://www.pon.harvard.edu/blog/


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