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Negotiation Dynamics
Ingemar Dierickx

Objective
This intensive three-day workshop is designed to sharpen participants’ negotiating skills, to help them understand some of their own “bad habits”, and to enable them to play the negotiating game with greater confidence and superior tactical finesse.

Key benefits
By attending Negotiation Dynamics, you will learn to:

Who should attend?
Negotiation Dynamics will benefit anyone in the financial arena, as negotiations play a role in the successful completion of all business deals. Professionals in mergers and acquisitions, structured finance, or project finance, the legal profession, etc. will especially benefit from the program.

Prerequisite
Participants wishing to enroll in the program should have experience in actual negotiations, for both their own benefit and the benefit of other participants.

Accreditation
Amsterdam Institute of Finance is registered with CFA Institute as an Approved Provider of continuing education programs. This program is eligible for 18 CE credit hours as granted by CFA Institute. If you are a CFA Institute member, CE credit for your attendance at this event will be automatically recorded in your CE Diary.

Faculty
Ingemar Dierickx is a senior partner at Dierickx Consulting, a company that offers a wide range of negotiation support services. Previously he was Professor of Negotiation Dynamics at Moscow School of Management (Skolkovo). Before joining Skolkovo, he was Professor of Negotiation Analysis at INSEAD for almost twenty-five years. He has advised leading companies and represented their interests as a negotiator around the world. Ingemar Dierickx holds degrees in Economics (PhD), Business (MBA) and Law (LL. M) from Harvard University.

For information about admission, please see our Practical Information.

Program Content
Day 1

Price Negotiations: Concepts and Tactics

Drawing on the participants' experiences in face-to-face negotiation, this first session is based around a case study involving the purchase/sale of a parcel of land. It analyzes the conceptual structure of single issue bargaining problems, develops alternative perspectives on the negotiating process and illustrates a variety of tactics used when negotiators bargain over price.

Package Deals: Defining the Optimal "Architecture" of Complex Agreements

This session illustrates pitfalls and limitations of negotiating within a single-issue framework and proposes an alternative: package deals. Participants will have an opportunity to put their bargaining skills to the test in a complex multi-issue negotiation. In this session, we tackle the problem of designing the right ‘architecture’ of package deals, identify efficient tradeoffs and introduce the fundamental concept of ‘exchange rates’ in multi-issue negotiations. In addition, we will review the obstacles that negotiators can expect to encounter in a business deal and suggest practical steps to overcome those obstacles and successfully implement the “package deal” approach.

Day 2

The "Nuts and Bolts" of Negotiations: Mastering the Process Fundamentals

In this session, we will thoroughly analyze two prototypical problems: how to make proposals and how to handle tough questions. The analysis will suggest a range of responses - including specific language - that will help participants to build their own “personal repertoire” of smart moves.

Negotiating Long-Term Contracts in a Volatile Environment

In this session, we examine difficulties that can arise in long-term contracts when parameters that critically affect the results for both parties are subject to change during the life of the contract. For example, the economics of a waste incineration project will hinge on oil prices, which are subject to unpredictable fluctuations over the life of the project. This session will address two kinds of problems that arise in such settings: problems in negotiating the deal, and problems in implementing the deal. Participants will explore some of those challenges in a case negotiation, offering an opportunity to explore in depth the fundamental theoretical concepts, which lie at the basis of value creation in negotiation. Towards the end of the session, we will review applications in a broad variety of industries including financial services, mergers and acquisitions, industrial gases and power generation.

Day 3

Breaking Deadlock: A Roadmap

In this session, we identify the characteristics of situations that give rise to standoffs. We analyze the psychological dynamics of conflict escalation, and offer a process perspective for achieving constructive resolution of potentially destructive conflicts.

Information Asymmetries

Parties in a negotiation not only have different interests, they also have different data, different expectations, and different views of the world. As a result, it is often difficult to agree on ‘the facts’. Furthermore, information provided by the order party may or may not be reliable. In this final session we will consider the incidence and consequences of information asymmetries, as well as ways of dealing with these problems. Concepts that emerge from the discussion will be applied in sales situations as well as in a variety of other negotiating settings, including sales, insurance, mergers and acquisitions and job negotiations.