Successful Negotiation: Essential Strategies and Skills

About this course: We all negotiate on a daily basis. On a personal level, we negotiate with friends, family, landlords, car sellers and employers, among others. Negotiation is also the key to business success. No business can survive without profitable contracts. Within a company, negotiation skills can lead to your career advancement. I hope that you will join the hundreds of thousands of learners who have made “Successful Negotiation” one of the most popular and highly-rated MOOCs worldwide. In the course, you’ll learn about and practice the four steps to a successful negotiation: (1) Prepare: Plan Your Negotiation Strategy (2) Negotiate: Use Key Tactics for Success (3) Close: Create a Contract (4) Perform and Evaluate: The End Game To successfully complete this course and improve your ability to negotiate, you’ll need to do the following: (1) Watch the short videos (ranging from 5 to 20 minutes). The videos are interactive and they include questions to test your understanding of negotiation strategy and skills. You can speed up or slow down videos to match your preferred pace for listening. Depending on your schedule, you can watch the videos over a few weeks or you can binge watch them. A learner who binge-watched the course concluded that “It’s as good as Breaking Bad.” Another learner compared the course to “House of Cards.” Both shows contain interesting examples of complex negotiations! (2) Test your negotiation skills by completing the negotiation in Module 6. You can negotiate with a local friend or use Discussions to find a partner from another part of the world. Your negotiation partner will give you feedback on your negotiation skills. To assist you with your negotiations, I have developed several free negotiating planning tools that are related to the course. These tools and a free app are available at http://negotiationplanner.com/ (3) Take the final exam. To successfully complete the course, you must answer 80% of the questions correctly. The exam is a Mastery Exam, which means that you can take it as many times as you want until you master the material. Course Certificate You have the option of earning a Course Certificate. A Certificate provides formal recognition of your achievements in the course and includes the University of Michigan logo. Learn more about Certificates at: https://learner.coursera.help/hc/en-us/articles/209819053-Get-a-Course-Certificate This course is also available in Spanish and Portuguese. To join the fully translated Spanish version, visit this page: https://www.coursera.org/learn/negociacion/ To join the fully translated Portuguese version, visit this page: https://www.coursera.org/learn/negociacao Subtitles for the videos are available in English, Ukrainian, Chinese (Simplified), Portuguese (Brazilian), Spanish Created by: University of Michigan The course logo composite is shared with a Creative Commons CC BY-SA (https://creativecommons.org/licenses/by-sa/2.0/) license, and was created using images provided courtesy of Flazingo Photos (http://bit.ly/1zOylRm) and K2 Space (https://www.flickr.com/photos/k2space/14257556613/in/set-72157644732478432).

Created by:  University of Michigan

• Taught by:  George Siedel, Williamson Family Professor of Business Administration and Thurnau Professor of Business Law

Commitment 7 weeks of study, 75 minutes/week Language English, Subtitles: Ukrainian, Chinese (Simplified), Portuguese (Brazilian), Russian, Spanish How To Pass Pass all graded assignments to complete the course. User Ratings 4.7 stars Average User Rating 4.7See what learners said Coursework

Each course is like an interactive textbook, featuring pre-recorded videos, quizzes and projects.

Help from your peers

Connect with thousands of other learners and debate ideas, discuss course material, and get help mastering concepts.

Certificates

Earn official recognition for your work, and share your success with friends, colleagues, and employers.

University of Michigan The mission of the University of Michigan is to serve the people of Michigan and the world through preeminence in creating, communicating, preserving and applying knowledge, art, and academic values, and in developing leaders and citizens who will challenge the present and enrich the future.

Syllabus


WEEK 1


Welcome to Successful Negotiation!



Through this course you'll learn and practice the strategies and skills that will help you become a successful negotiator in your personal life and business transactions. After completing this module, you'll be able to state the four key stages of negotiation and what you need to do successfully complete this course.


2 videos, 7 readings expand

1. Video: Course Goal and Game Plan
2. Reading: Course Focus
3. Reading: How to Succeed in This Course
4. Reading: Earning a Course Certificate
5. Reading: Help us learn more about you!
6. Video: Introduction to the University of Michigan
7. Reading: About the Professor
8. Reading: Syllabus
9. Reading: Suggested Readings

WEEK 2


Prepare: Plan Your Negotiation Strategy
This module focuses on the first step in the negotiation process - planning for a negotiation. One critical component you'll learn is how to complete a negotiation analysis to set you up for success.


10 videos, 4 readings, 1 practice quiz expand

1. Reading: After completing this module, you will be able to...
2. Reading: Suggested Readings
3. Reading: Assess Your Negotiating Style
4. Reading: Checklist of Ethical Standards and Guidelines
5. Practice Quiz: Show What You Know
6. Video: Should I Negotiate?
7. Video: A Position Based or Interest Based Negotiation
8. Video: A Dispute Resolution or Deal Making Negotiation?
9. Video: Analyzing the Negotiation
10. Video: Your BATNA in a Dispute Resolution Negotiation
11. Video: Using Decision Trees to Complete Your BATNA Analysis
12. Video: Cross-Cultural Negotiations
13. Video: How to Handle Ethical Issues
14. Video: General Ethical Standards
15. Video: Using Agents in Negotiations

WEEK 3


Negotiate: Use Key Tactics for Success



This module focuses on two especially important topics: (1) how to use power during negotiations and (2) psychological tools that you can use during negotiations. Keep a paper and pencil handy, as you'll be participating in several experiments as watch these videos!


9 videos, 4 readings, 1 practice quiz expand

1. Reading: After completing this module, you will be able to...
2. Reading: Suggested Readings
3. Reading: Developing Your Negotiating Power
4. Reading: Checklist of Psychological Tools
5. Practice Quiz: Show What You Know
6. Video: Using Power in Negotiations
7. Video: Getting to Know the Other Side
8. Video: Introduction to Psychological Tools; Mythical Fixed Pie Assumption
9. Video: Psychological Tools: Anchoring
10. Video: Psychological Tools: Overconfidence
11. Video: Psychological Tools: Framing
12. Video: Psychological Tools: Availability
13. Video: Psychological Tools: Escalation
14. Video: Psychological Tools: Reciprocation, Contrast Principle, and Big Picture Perspective

WEEK 4


Close: Create a Contract



This module focuses on the negotiation that takes place in a business deal after reaching an initial agreement – the negotiation to create a binding contract. Among other things, you'll learn to decide if you need a lawyer or can act as your own for contract creation. However, the videos should not be construed as providing legal advice.


6 videos, 3 readings, 1 practice quiz expand

1. Reading: After completing this module, you will be able to...
2. Reading: Suggested Readings
3. Reading: Contract Law Checklist
4. Practice Quiz: Show What You Know
5. Video: Perspectives on Contracts
6. Video: Sources of Contract Law
7. Video: Creating Contracts: The Agreement
8. Video: Creating Contracts: Consideration and Legality
9. Video: Creating Contracts: Writing Requirements
10. Video: Business vs. Legal Objectives in Contracting

WEEK 5


Perform and Evaluate: The End Game



This module focuses on performing and evaluating your agreement. If both parties perform as expected, there is no problem. But if they fail to perform, the dispute resolution processes that we cover in this module is important - especially mediation and arbitration.


8 videos, 3 readings, 1 practice quiz expand

1. Reading: After completing this module, you will be able to...
2. Reading: Suggested Readings
3. Reading: Life Goals Analysis
4. Practice Quiz: Show What You Know
5. Video: Dispute Prevention
6. Video: ADR Concepts
7. Video: ADR Tools
8. Video: Arbitration
9. Video: Arbitration (Conclusion)
10. Video: Mediation
11. Video: Mediation (Conclusion)
12. Video: Contract Performance Review and Evaluation

WEEK 6


Practice Your Negotiation Skills
Put your newly developed skills to the test in this module with a friend or fellow MOOC participant from another part of the world!


8 videos, 5 readings expand

1. Reading: During this module, you will...
2. Video: Introduction to Negotiation Exercise
3. Reading: Suggested Readings
4. Reading: Tracy: Instructions and Confidential Information
5. Reading: Pat: Instructions and Confidential Information
6. Reading: Self-Assessment and Feedback for the Other Side
7. Video: Negotiation Debrief: Planning for Negotiation
8. Video: Negotiation Debrief: Planning for Negotiation (Conclusion)
9. Video: Negotiation Debrief: Negotiation Tactics
10. Video: Negotiation Debrief: Psychological Tools
11. Video: Negotiation Debrief: Psychological Tools (Conclusion)
12. Video: Negotiation Debrief: Creating and Performing the Contract
13. Video: Negotiation: Building a Larger Pie

WEEK 7


Final Examination
Once you have successfully completed the Final Exam, you will have successfully completed the course! The estimated time to complete the examination is 75 minutes. You can retake the examination until you are confident that you understand these concepts.


3 readings expand

1. Reading: Final Examination: Instructions and Honor Code
2. Reading: Some important reminders
3. Reading: Post-course Survey

Graded: Final Exam