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State Bank of India: Fundamentals of Negotiation

Negotiation is an art. Humans have been instinctively negotiating and displaying this behaviour almost since the beginning of civilization. Negotiating skills helped Homo Spaiens to survive and grow. It started with simple bargains and has now reached to a situation of very complex negotiations. The complexity in negotiations increased in direct proportion to the increase in complexity in human life. Success in any sphere now, is dependent on our skills to negotiate. The art of negotiation has been researched and analysed extensively by many management gurus. This has led to development of techniques which help develop the art of negotiation. This course is about the fundamentals of negotiation which would help leaders in developing negotiating skills.

4 weeks
3–5 hours per week
Progress at your own speed
Optional upgrade available

About this course

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The word ‘negotiation’ is derived from two Latin terms, negare otium ; which literally means ‘to deny leisure’. The connotation has now changed from ‘deny leisure’ to ‘business’. Negotiation is now defined as a process in which two or more interdependent individuals or groups, who perceive that they have both common and conflicting goals, state and discuss proposals and preferences for specific terms of a possible agreements.

This course is about fundamentals of negotiation and how negotiating skills can be developed. Different approaches towards negotiation are explained along with suitable strategy for negotiation. A negotiation check list is also provided. The course discusses commonly used techniques.

The course answers questions like how to negotiate with liars? What are the common mistakes made during negotiation? The course also explores the power of persuasion. It provides dos and don’ts of negotiation.

This course provides a roadmap for leaders to develop the art of negotiation. It will lead leaders to embark on a journey to successful negotiations which will also help in forging rewarding relationships and success in all spheres of life.

At a glance

  • Language: English
  • Video Transcript: English

What you'll learn

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* To make leaders understand fundamental concepts in negotiation

* To make leaders recognize common mistakes done during negotiation

* To provide practical tips for negotiation

* To enable leaders to become a better negotiator

Module 1 – Introduction to Negotiation

1.1 Introduction, background and importance

1.2 Concept of negotiation

1.3 Fundamental approaches to resolving disputes

1.4 Different strategies for negotiation

1.5 Self-assessment

Module 2 – Fundamental Concepts of Negotiation

2.1 Various dimensions of negotiation

2.2 The negotiation checklist

2.3 Principles of persuasion

2.4 Introduction to Game Theory in negotiation

2.5 Self-assessment

Module 3 – Practical Tips for Negotiation

3.1 Expectations in negotiation

3.2 Techniques of negotiation

3.3 Common mistakes made during negotiation

3.4 Negotiating with fibsters

3.5 Self-assessment

Module 4 – Closing Deal in Negotiation

4.1 Commonly used techniques

4.2 Dos and don’ts of negotiation

4.3 Overcoming an impasse

4.4 Self-assessment

The course will include a mix of videos, recorded audio clips, faculty led lectures, examples, cases, self-assessment tests and assignment(s).

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