Professor Smith began by referring to three rules in negotiation skills, stressing the importance of never compromising and creating the value of the product itself. In many cases, the supplier cares about the price, while the purchaser cares about the value. As a supplier, it is necessary to develop an attractive negotiation plan by adding value to one's own products in the context of understanding each other's needs and combining the bottom line tipping points of both sides. Professor Smith points out that negotiators must be uncompromising if they want to prevail.

Successful negotiators have an "uncompromising" confidence because it is a key point to create value to the outcome by fully understanding each other's negotiating bottom lines, differences of interests and needs before negotiations begin. Often, the interests are rarely stated. When negotiations reach the bottleneck, you need to change the perspective in order to see a broader space for negotiation.

When it comes to the understanding of opponents, Prof. Smith referred to two important concepts in negotiation skills - Best Alternative to a Negotiated Agreement (BATNA) and Zone of Possible Agreement (ZOPA). Before negotiations begin, negotiators should always be clear about their best alternative to their opponents, which will help the negotiators know whether the deal is reasonable, when to withdraw, and whether to give a better bargaining option. ZOPA is the "price area" formed by the overlapping psychological bottom line of the negotiating parties. In other words, the intersection of the buyer's price space with the seller's price space is a negotiating space where agreement may be reached.

It’s not what you say: it’s the way that you say it. The words you use in a negotiation can have a material effect upon the outcome. Use words which resonate with your audience. Give the other side credit for good ideas: make them feel good about themselves!

Manchester Global MBA program not only brings professional management concepts and business practices to the world's leading business managers, but also provides flexible curriculum options. During the study, students will have the opportunity to choose their own interests to attend electives in the second year in 6 international centres. If you want to be a business leader with superb negotiation skills, please join our Global MBA programme. Prof. Smith will develop your negotiating strategies and skills as well as innovative thinking by drawing on relevant research in the field of international negotiations to analyze the global business environment and regional characteristics.

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