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Negotiation Skills Training: Getting Ready For And Engaging In Complicated Commercial Negotiations Using Best Practice Preparation
The critical negotiation skill required to unlock the best value from complex negotiation situations is to identify and understand the interests of all the parties affected by or taking part in the negotiation. In some cases, it is easy to understand both the positions & interests of players in the negotiation. In most cases, however, it is not only hard to identify the interests of stakeholders; it is also difficult to identify all the key players.
How to negotiate in complex, multi-party negotiations?
1. Identify all the stakeholders in the complex negotiation
This may be stating the obvious but in reality, it is often hard to spot and track all the stakeholders in a negotiation. In a commercial environment, we should at minimum attempt to identify the following stakeholders:
a. Financial stakeholders
These are the individuals or groups that will finance, support or give consent to reach an agreement based on the financial terms proposed. It is key to uncover all potential individuals that may have an interest in the purely financial aspects of the negotiation.
b. User/consumer stakeholders
These are the people or groups that will implement and support the outcome of the agreement that is reached. These are the parties that will live and work with the result of the negotiations on a day to day basis.
c. Technical & legal stakeholders
These are the individuals or groups that will sign off and agree to the technical and contractual dimensions of the negotiations.
d. Guides/Gurus & other Influencers
These are the people or groups that hold substantial influence over the key decision makers involved in the negotiation.
2. Identify the interests of each stakeholder in the negotiation
There are primarily two methods to identify an individual or group's interest in a commercial negotiation. The first way is to put yourself in that person or group's position and to attempt to see things from his/her/their perspective. What supporting information would you require? What precedents would come into play? What assumptions can you make, and validate? The second way is to ask the individual or group a series of questions to assist you (and them) to accurately identify their key interests. The best question to ask is "Why?" "Why is this negotiation important to you? Why are you assuming this position? Why are these options being explored?"
3. Create a frame that is appropriate for each stakeholder
Having identified the interests of each stakeholder party, you should now shape the appropriate frame. Different people take decisions for different reasons. It is not useful to highlight the same points to support decision making to all participants. You should focus on communicating the most appropriate frame to each stakeholder or potential participant.
4. Create an effective management structure for the negotiation
If our counter parties experience us to be rational, the odds are significantly enhanced that they will also react to us in a rational fashion. We can only present a unified and rational 'front' if we have thought about the roles & responsibilities within our negotiation team. Allocate the focus in the team between those that will manage the Relationship aspects, and those that will manage or be involved in the Task dimensions.
Negotiation skills training teaches us to create an agenda that addresses the interests of all potential stakeholders. A successful way to simplify complex business negotiations is to add structure. We need to focus on the process elements to ensure that we move forward at every level of the negotiation. You will find that complexity can be managed with the use of an appropriate supporting structure.
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