Women in leadership conference

2023-04-08 PREPARED BY ROSIE MOTENE

WOMEN IN LEADERSHIP

NEGOTIATION COMPETENECE IN THE BUSINESSWORLD


NEGOTIATION

WHAT IS NEGOTIATION?

PLANNING.

DETERMINING THE CLIMATE FOR NEGOTIATION.

THE TYPES OF NEGOTIATION

THE NEGOTIATION PHASES

HUMAN DYNAMICS

PERSONAL CASE STUDIES: POSITIVE AND NEGATIVE.


NEGOTIATION

Dialogue between two or more people or parties, intended to reach an understanding, resolve a point of difference.

A process where each party involved in negotiating tries to gain an advantage for themselves by the end of the process.

Intended to aim at compromise.


PLANNING

Step 1. Identity your needs. What do you need to succeed?

Step 2. Break down your needs into two different categories.

Category 1: Essential: It will have a positive effect on your business.

Category 2: Non- essential: It will be an added benefit.


PLANNING

Step 3: Research phase. Identifying key players in your industry and also outside your industry, individuals or parties that have similar needs or are lacking in your areas of expertise.

Step 4. Once you have identified these key players or parties, study their behaviour, their business, the people and clientele that they interact with.


PLANNING

Step 4: Look at your core business and work on strategies that could assist them or align with them. Make sure you have a solid understanding of your goals, mission and aim.

Step 5. Map out a plan on how the two or more parties can create a synergy

Step 6: Research the way the other parties are used to negotiating so the initial contact is subtle and effective.


CLIMATE FOR NEGOTIATION.

First impressions last.

What you say in the first minutes of the negotiation process, often sets the climate for the negotiation.

The other person or parties can make a decision within those few minutes whether they want to do business with you or not.


CLIMATE FOR NEGOTIATION.

BE CONFIDENT.

BE PREPARED.

BE DYNAMIC.

BE DEPENDABLE


CLIMATE FOR NEGOTIATION

BE CONFIDENT. There is a thin line between being confident and arrogant.

Confidence exudes: Character, charm and knowledge.

Know your brand, know your history, know your outcome.

Look the part.

Calculate your short comings more over than your successes.

Prepare for the What if questions.


BE PREPARED: The preparation that you did in the planning phase comes into play. You need to know your product but more importantly you need to know the other parties product. Knowledge from their products history, execution, track record, prices, reputation to even know what the CEO’s birthday is.

Cover all your tracks and protect your brand. Copyright. There is always someone ready to take credit for your work.

HOW TO SET TE CLIMATE.


HOW TO SET THE CLIMATE.

BE DYNAMIC: The WOW! Factor comes into play.

You need to make them sit up and think.

Leave them with the thought that they need you.

Let them understand that creating a synergy with you will make a world of difference to their brand.

Cross your T’s and dot you I’s.


TYPES OF NEGOTIATION.

INTEGRATIVE: Also known as principled or win-win. Where the parties achieve a satisfactory result that is beneficial to both of them. This is usually ongoing

DISTRIBUTIVE BARGAINING: Competitive bargaining, where both parties compete for the distribution of a fixed amount of value. Usually a once off.

Which one is for you?


KEY CONCEPTS

What is my BATNA ( Best Alternative To This Negotiation Agreement): Your options need to be strong before entering an agreement. This increases your position of power.

What is my WAP (Walk away point): The point at which you walk away from the agreement. At what point do you realise that the deal will not benefit you. Your BATNA will determine this.

E.g. Current make up brand. My WAP determined in 5 mins.


KEY CONCEPTS

Realistic agreement zone: The two points where you realistically expect to reach an agreement. In your preparation you should analyze your opponents BATNA so you can estimate where that breaking point will be.

Creating value: Don’t argue over who is going to get the bigger slice of the pie. Look at the long term goals and introduce many variables so both parties benefit.


PHASES

PLAN AND PREPARE.

DEBATE

PROPOSE

BARGAIN

CLOSE.


PHASES

PLAN:

1. What are my wants and an estimation of their wants.

2. Priorities your wants and needs as well as the opponents.

3. Set your objectives

4. Estimate your realistic agreement zone.

5. Logistics: Who will run with what, at what time lines and who will be held accountable. Eg Fireworx and Planet Radio.


PHASES

DEBATE: To build a positive environment.

This is where each party gets to understand how each work.

Move away from being hostile and dominant, that creates areas of mistrust and negative energy.

Proper diligence must be carried out.


PHASES

PROPOSE:

Once you have debated on the objectives and have all the information that you require, decide on a proposition. What you can and willing to bring to the party.

In terms of budget, aim higher but realistic.

Know your game, be specific and confident.


PHASES

PROPOSE: Once you have made your proposition, sit back and listen to theirs.

Listen to their response. Acknowledge their proposal. If it is conflicting to yours, take time to mull over it. Look at what the positive outcomes will be for you.

Make sure you understand all jargon and language.


PHASES

BARGAINING:

If the two proposals given are not identical, you enter into a phase where you might compromise on issues.

NEVER compromise on your brand nor your objectives.

Look at the favourable conditions to you and see what you can take from theirs.


PHASES

CLOSING:

Make sure you are 100% sure of all the details.

Legal assistance is costly but necessary.

Contracts are essential.

Minute every meeting and conversation.

Keep a paper trail.


HUMAN DYNAMICS

No Such things as a free lunch: Someone always wants something out of a deal.

Be aware of unsavoury people. Research can determine some ones track record.

Power play: People use this tactic to govern the situation, be firm. If the situation arises, use the power of your knowledge than sound of your voice.


HUMAN DYNAMICS

Sexism in the work place. Play the game as a woman not a man.

Be two steps ahead of the boys, be prepared for anything.

Don’t compromise your integrity for a deal.

If you are not happy, speak out.

If it sounds too good to be true, it usually is.


CASE STUDY 1

BEE deal with a production company.

1. I did not weigh up what I wanted from the deal.

2. I was lead by delusion.

3. I did not bargain or outline what I would bring to the table.

4. I did not seek legal advice.

5. I was not firm.


CASE STUDY 1

Outcome:

Four year old legal battle.

Did not come out with anything.

Could not engage in other work besides my current

Lost credibility in the industry due to the other partners manner of business.


CASE STUDY 2.

BMW sponsorship.

I identified the market, way before proposing any thing. Bought a BMW to prove that young black people had the buying power.

Approached a dealership based on their BEE rating.

Made the deal look as favourable to them.

Gave options. Sponsorhip with a difference


CASE STUDY 3

Man On Ground film:

Needed to prove myself as a film producer.

Work with subjects close to my heart.

Approach a different funding model without excluding other film funders.

Dealt with the sexism, discrimination.

Outcome: Film was a success.


CONCLUSION

Love what you do ad you will never have to work a day in your life.

Work with like minded people.

Brand value is always key.

Ask for help.

Be realistic, some battles are not worth fighting.

Be true and it will pay off.

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