December 27, 2021 1:00:00 PM EST  |  Leadership and Leadership Development  |  Training Services

LDP Blog – Negotiations and Persuasion

It’s hard to believe that we are three-fourths of the way through the 2021-2022 Markon Leadership Development Program.

On December 17, we had our ninth LDP session where we focused on the topics of Negotiations and Persuasion. We learned that negotiation works best when both parties feel like they have been treated fairly. When individuals are engaged in negotiations there are seven elements to consider:

  1. Interests – what do people want?
  2. Alternatives – what will you do if an agreement cannot be made?
  3. Options –  what are some possible agreements?
  4. Legitimacy – what support do you have in making your offer?
  5. Commitments – what are you willing to sign up for?
  6. Relationship – are you prepared for this agreement to be finalized?
  7. Communication – be prepared to talk and/or listen, it’s a learning conversation
Afterwards we discussed some of the elements in negotiations, we transitioned to understanding some basic techniques. Here are six techniques we discussed:
  1. Know your position
  2. Rank your order of priorities – Best Alternative
  3. Share your interest to develop trust
  4. Make the 1st offer – Power Play
  5. Understand your leverage but use tradeoffs
  6. Present MESO (Multiple Equivalent Offers Simultaneously)

Following the discussions on the elements and techniques of negotiations it was time for the class to put what we learned into practice through a case study/role play. We were paired off and given a scenario, the Ugli Orange. In this exercise, there is a short supply of oranges and each individual must convince the others in their group (or negotiate) why they needed the oranges for themselves. This was a great way to put into action what we learned earlier that day.

As the day progressed, we turned our attention to the Power of Persuasion. We discussed six items of Persuasion:

  1. Liking– people like those who like them
  2. Reciprocity – give what you would want to receive
  3. Social Proof – people follow the lead of their peers
  4. Consistency – people align with their clear commitments
  5. Authority – people defer to experts
  6. Scarcity – people want more of what there is less of

As a requirement for LDP, class participants are to give an 18 minute (that’s right, 18 minutes!!!) Ted Talk at the end of the program. A Ted Talk can be on almost any topic that you would be passionate about speaking on. We wrapped up the day watching several Ted Talk presentations to get a better understanding of how to deliver our topics effectively.

Nine sessions down, three to go!

About the Author

Pierre Fesdekjian

Pierre Fesdekjian

Pierre Fesdekjian is a senior specialist and finance/accounting manager at Markon Solutions.