Negotiations: Making Business Deals (MindEdge) – Course Code M5064SP
Estimated length: 4 hours
Access Time: 90 days
.4 CEUs | 4 PDUs
This course is designed to help executives and other potential deal-makers learn the essential strategies and skills to conducting successful business negotiations. Learners in this course will explore the fundamentals of deal making with the help of games, videos, interactive exercises, case studies, and other engaging content. The course begins by comparing and contrasting the two major types of negotiation—Dispute Settlement Negotiation (DSN) and Deal Making Negotiation (DMN)—and exploring the difference between negotiation and bargaining. Key topics covered in the course include the stages of the negotiation process; the importance of preparation and realistic goal-setting; the five basic approaches to negotiation; when to make (and when to avoid) commitments; the relative importance of relationships and outcomes; the decision to walk away from a negotiation; and the unique challenges posed by multiparty, international, and cross-cultural negotiations.
After successfully completing this course, you should be able to:
Distinguish between Dispute Settlement Negotiation (DSN) and Deal Making Negotiation (DMN)
Explain the importance of BATNA in Deal Making Negotiation
Describe the relationship between bargaining and negotiation
Distinguish between interests and positions, and describe the importance of each
Explain the five steps of the negotiation process
Identify the types of information that should be assembled prior to negotiation
Describe the five principal approaches to negotiation
Identify the two types of commitments, and explain how they affect negotiating flexibility
Explain the importance of the opening position
Describe Leigh Thompson’s mental models of negotiation
Explain the importance of active listening in the context of Deal Making Negotiation
Identify the challenges posed by multiparty negotiations, and describe strategies for meeting those challenges
Describe the circumstances under which a negotiator should call for a timeout, and when she should walk away from a negotiation
Explain the additional preparations needed before undertaking international or cross-cultural negotiations
Apply the principles of Deal Making Negotiation to real-world examples
Badge and credit-awarding
Games & Flashcards
Real-world case studies
Audio-enabled in app
This course has an “Ask the Expert” feature, which submits your questions directly to an expert in the field you are studying. Questions are answered as quickly as possible and usually within 24 hours.
This course does not require any additional purchases of supplementary materials.
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEU credit. Learners will have three attempts at all graded assessments.
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