FIN2605. Successful Negotiations: Lessons from the Trenches

A successful negotiation is not a contest or a confrontation — it’s a conversation. The person across the table is a counterpart, not an opponent.

Finance professionals negotiate every day, both internally and externally, yet many lack formal training in what truly drives successful outcomes. This session explores why mindset matters in negotiation, how to prepare effectively by understanding both your objectives and priorities — and those of your counterpart — and how to choose an approach that supports meaningful, sustainable agreements.

Attendees will also learn how to avoid the common trap of treating negotiations as a game of “winning points” rather than achieving real objectives. The session addresses how to evaluate the success of a negotiation, recognizing that success does not always mean getting exactly what you initially wanted. As the saying goes, knowing when to hold, fold, walk away, or run can each represent success, depending on the circumstances.

Learning Objectives:

• Identify the importance of preparation in negotiation, including determining your objectives, priorities and stakes for you and your organization.
• Determine how to understand your negotiating counterpart's perspective, objectives and priorities.
• Compare multiple types of negotiation styles and strategies, recognize how to select your approach for each specific negotiation, and which are appropriate for internal vs. external negotiations.
• Identify the importance of adaptability and flexibility as negotiations evolve.