What you'll learn
Determine the most effective strategic approach by applying understanding of the relative importance of outcomes and relationships
Identify the relative importance of power elements in a negotiation and apply them to the specific negotiation context
Understand the influence of personality style on communication within negotiation and apply that knowledge to improve outcomes
Identify the variables within a negotiation and prioritise them by developing a negotiation map
Use concession trading to improve outcomes without compromising your objectives
Use knowledge of how suppliers are trained in order to control the negotiation and improve outcomes
Apply tactics that are appropriate to your objectives leading to improved outcomes whilst maintaining the relationship.
Requirements
No prior retail experience required. Ideal for beginners to advanced retail professionals
Description
Negotiation is a critical activity of every retail Buyer.Why? Because the extremely competitive retail marketplace environment will continue to put increasing downward pressure on margins.Most Buyers won't only be negotiating with Suppliers, but also with their managers, stores, logistics departments and other internal departments.For the purpose of this course however, we will focus on the negotiations that take place between Buyers and Suppliers.Retail negotiation is not just about achieving better purchasing prices; it is a continuing activity required to resolve problems and develop new opportunities with Suppliers.How skilful a Buyer is at negotiating has a major bearing on Supplier relationships and merchandise profitability.Retail Professionals are constantly in a stage of negotiation, not just with customers, but also internal and external stakeholders, but more importantly with critical suppliers.Negotiation is an essential skill when it comes to drawing up contracts and building key long term relationships.The success of a negotiation is not just through potent convincing power but through managing the process, expectations and the perceptions of all parties in the negotiation.This course will introduce methods and tactics used by professional negotiators.It focuses on careful analysis and good process management to arrive at the best possible deal for both sides in a negotiation, an agreement that is enthusiastically implemented and accepted.Negotiation is not just the gift of the gab, but it holds a great accountability to putting together an offer that is seen as a win/win and achieves closure without damaging the on - going relationship between the parties concerned.Negotiation has a lot to do with persuading, bargaining, and trading concessions to achieve the best outcome that will satisfy both parties.Negotiation therefore involves a degree of mutuality. Both parties must be prepared to live with the result.Unfortunately, in many instances the mutuality element is missing and what passes for negotiation ends up being not far removed from an ultimatum or a form of blackmail.This situation usually happens because the Supplier (or in some cases the retailer) has become dependent on the other party for their survival.This sort of dependence can result in irrational decisions being made by the dependant party.Learning Objectives :Determine the most effective strategic approach by applying understanding of the relative importance of outcomes and relationshipsIdentify the relative importance of power elements in a negotiation and apply them to the specific negotiation contextUnderstand the influence of personality style on communication within negotiation and apply that knowledge to improve outcomesIdentify the variables within a negotiation and prioritise them by developing a negotiation mapUse concession trading to improve outcomes without compromising your objectivesUse knowledge of how suppliers are trained in order to control the negotiation and improve outcomesApply tactics that are appropriate to your objectives leading to improved outcomes whilst maintaining the relationship.Curriculum Outline :LESSON 1. THE MEANING OF NEGOTIATIONpart 1. The meaning & importance Of negotiationpart 2. the context for negotiationLESSON 2. SUPPLIER RELATIONSHIPS AND NEGOTIATIONpart 1. supplier selectionpart 2. knowing the supplierpart 3. how suppliers are trainedLESSON 3. COMMUNICATION SKILLSpart 1. the map of realitypart 2. skilful questionspart 3. active listeningpart 4. observant seeingLESSON 4. PLANNING THE NEGOTIATIONpart 1. the planning checklistpart 2. market and product knowledgepart 3. identifying the supplier's needs and assessing relative powerpart 4. identifying the negotiating variablespart 5. establishing objectivespart 6. setting up the negotiationLESSON 5. THE TACTICS OF EFFECTIVE NEGOTIATIONpart 1. negotiation styles or modespart 2. the organisational modepart 3. the personal modepart 4. important tactical issuesLESSON 6. WHAT MAKES A TOP NEGOTIATORpart 1. What makes a top negotiatorLESSON 7. ASSESSMENTSpart 1. Assessments
Overview
Section 1: INTRODUCTION
Lecture 1 Course Overview
Section 2: THE MEANING OF NEGOTIATION
Lecture 2 The Meaning & Importance Of Negotiation
Lecture 3 The Context For Negotiation
Section 3: SUPPLIER RELATIONSHIPS AND NEGOTIATION
Lecture 4 Supplier Selection
Lecture 5 Knowing The Supplier
Lecture 6 How Suppliers Are Trained
Section 4: COMMUNICATION SKILLS
Lecture 7 The Map Of Reality
Lecture 8 Skilful Questions
Lecture 9 Active Listening
Lecture 10 Observant Seeing
Section 5: PLANNING THE NEGOTIATION
Lecture 11 The Planning Checklist
Lecture 12 Market And Product Knowledge
Lecture 13 Identifying The Supplier's Needs And Assessing Relative Power
Lecture 14 Identifying The Negotiating Variables
Lecture 15 Establishing Objectives
Lecture 16 Setting Up The Negotiation
Section 6: THE TACTICS OF EFFECTIVE NEGOTIATION
Lecture 17 Negotiation Styles Or Modes
Lecture 18 The Organisational Mode
Lecture 19 The Personal Mode
Lecture 20 Important Tactical Issues
Section 7: WHAT MAKES A TOP NEGOTIATOR
Lecture 21 What makes a top negotiator
Section 8: ASSESSMENTS
Lecture 22 Assessments
A comprehensive retail negotiation course if you are a student who wants to make retail a career.,This is a simple yet comprehensive guide if you are a retail entrepreneur who is into retail start ups.,If you are a retail professional wanting to sharpen your retail negotiation skills and accelerate your career.,If you are in retail Top management, this is a useful retail tool kit to look at your business in an easy way.,If you are a retail buyer wanting to sharpen your retail negotiation skills,If you are a retail supplier wanting to master negotiation skills,If you are a retail consultant and use this as a handy resource tool kit.


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