Negotiation Training Day 7

Before doing MOU with third party (multinational), you need to be careful about

 - double taxation,
 - dispute settlement
 - exclusivity? (first, find out whether they have a policy or not. Then ask to share profits if they want to add new dealers within the country. deal in the period. ask for auto-renewal condition.)
 - royalty (little on advance and more on recurring)
 - for promotion (value office resource as well)

4 wheeler gives around 25 crores (85% value) for promotion in Nepal only.

when doing negotiation, we have to quickly revisit our options (in monetary value), zopa and reservation price.

Negotiation Training Day 6

strength - defensive, power - attacking
ethics in negotiation (debatable)

Negotiation Training Day 5

On day 5, various alternative and options for bank and agriculture business is discussed. This class is used to clarify the dilemma.

alternative = outside the subjects
options = inside the subjects (part of contract)

Q: What are the alternative and options of bank merging between ABC and XYZ?


When we stay at negotiation, we don't need to talk about alternative. we only need to think about it.
alternative (single party), option (2 parties)

collaboration => fully satisfied, pie-enlarge
comprimizing => partially satisfied, pie-divided

bargaining vs heggling
strength vs power
Due Dependence Audit (DDA) manipulation (monetary, non monetary, non tangible - value based on attributes):- reliable, relevant, assumption, estimate
  

Negotiation Training Day 4

Catching the cue

Western (better preparation, little time for negotiation, more time for documentation)
Nepali (worst preparation, more time for negotiation, few time for documentation)

the subject might change on the course of the negotiation. (alternative, power, strategy, legality, tech)

try to make the other party closer.
Enemy -> opponent -> counterpart -> partner

Vantage Seven Element (Harvard) - ARCC OLI
1. Alternative
2. Relationship
3. Communication
4. Commitment
5. Option
6. Legitimacy
7. Interest

Cost to us Vs Them
Best negotiation is low cost for partner, high value for us And low cost for us, high value for partner

FDI (Shareholder Agreement + Joint Benchure Agreement (JBA))

DOI Template

assertiveness

data protection act (law.commision.gov.np), Contract Act (Private Law)

Negotiation Training Day 3

On day 3 of the negotiation class,  terms from word cloud were discussed..


collective bargaining

most difficult negotiation: labor negotiation.

Best negotiation deals: british airways

archive: (documentation)

need to consider legal position (possible deadline for legal action, consequences) before entering into negotiation mainly on dispute.

Team n Outsource: if there is a lot of work to do and the negotiation team couldn't able to handle it or they don't have the required expertise then it is best to outsource the work.

informal agreement - deal like hundi

renegotiation -> dispute on implementation

After negotiation end -> conclusion, implementation, archive
before negotiation -> background study, preparation, batna, zopa, alternatives, options
during negotiation -> negotiation (give/take)


Emotional diary, emotional hijacking, , using emotion as strategy

Time holidays => expand your pie

concession exchange speed

value addition

slow down at your best.

conflict management tool

negotiation psychology.

Negotiation Training Day 2

Effective Business Negotiation Skill Training Day 2 by Hari Kumar Silwal covers negotiation terms.

BATNA is a benchmark for ZOPA (Zone of Possible Agreement).

WATNA (Worst Alternative to Negotiation Agreement)

deadlock vs pause (time out) vs walk away.

Tactic
What to do if caught? (What are risk and how to mitigate)?

your loss is my profit (X)

worst deal is loss/loss.

How to take person from informal conversation to formal documentation deal.
1. briefing/debriefing (ask what are the point he has noted. Ask if it is ok if you note the point of the negotiation)
2. ask for a letter of representation for a board of director
3. control your anger. ("It is no wrong to get angry. You must know the subject is right, time is right and the way is right." - Aristotle)

Positional Bargaining
Legitimacy
constituents
prejudiced
conceding speed (slow will win if you have time, concession exchange speed)
resilience


workplace body language (defensive - hand at the stomach, cooperative - lean toward you, not prepared - hands-on head/watch, time - move toward the edge etc) 
different style as per country (culture difference)

if you have to negotiate with lower authority then as department head to attend the first meeting then give responsibility to the lower rank staff).

you will be the best negotiator if you can deal on equal standing with the chinese, can spend around a year for a same agenda with the american and if the Japanese tells you what he actually means (intended thing)

Negotiation Training Day 1: IEBNST

Preparetation Day

On day 1 of Intensive Business Negotiation Skill Training By Hari Kumar Silwal, basic definition of negotiation was discussed.

Negotiation Steps
1. preparation and planning
2. definition of ground rules
3. clarification and justification
4. bargaining and problem solving
5. closure and implementation

Things for Negotiation
1. subject
2. two or more parties
3. differences (subject detail/Term & conditions), both parties should appreciate the difference
4. limited resources
5. solves differences mutually

Negotiation Role
1. self
2. Assistant
3. Consultant

Negotiation is a combination of Science (Process) and Art (Creativity).

how to resolve disputes.
1. Traditional Way (what we have been doing for long time. eg: HR, Court, CDO etc)
2. Alternative method
There are about 20 types, 5 main types and within that 3 are mostly used.

Types of alternative dispute resolution methods (ADR)
1. Mediation
2. Arbitration
3. Negotiation
4. Conciliation
5. Mini Trial

4 types of conflict
1. Intrapersonal (psychologist will help to resolve this type of conflicts)
2. Intragroup
3. Interpersonal
4. Intergroup

conflict of type 2,3,4 is resolved via negotiation.

2 types of negotiation
1. integrative (relationship-based, collaborator, synergy, demand)
2. distributive (get ownself higher value, result-based)

deal implementation
ICE (Intension, Capacity, Environment)

Information type
Self, partners, environment

Knowledge
Financial, Technical, Legal

ARCC OLI
1. Alternative
2. Relationship
3. Communication
4. Commitment
5. Option
6. Legitimacy
7. Interest


Arbitration
based on Arbitration Act - country must make decision awards
UNCITRAN (UN Law)
Odd numbers (1, 3 or 5)

1. p1 (party 1), p2, the arbitrator
2. p1, p2, a1, a2, a3

Arbitrator - highly paid job

dispute resolution method on contract
- court
- arbitration

Multinational contract
 - which countries law to use
 - which countries court to use
 - venue
 - arbitrator type (kahako rakhne)

FDI Problem
due to arbitration (court will assign one arbitrator if we don't name one)
different country, different law might be one of the challenges to resolve a dispute

best: Nepal law, Singapour court, Nepal land


Meditator -> recommendation (on mutual understanding, ref by court)
Arbitration -> award (executed by court and questioned only if it is done by misinterpretation of law, full and final)

in USA -> go to mediation first then come to court


homework
1. alternatives vs options
2. which one is a bad deal? l/l vs l/w
3. explain BATNA (Best Alternative to a negotiation agreement), reservation price and ZOPA (zone of possible agreement)
4. integrative vs distributive
5. traditional vs alternative negotiation techniques
6. power type and tactics