Strategic Negotiation

Course Code

STNEG804

Program or Programs for which course is part

Master in Real Estate (MRE) Executive Master in Real Estate (E-MRE) Master in Real Estate and Finance (MRE(Fin)) Executive Master in Real Estate and Finance (E-MRE(Fin)) Master in Real Estate and Marketing (MRE-Mkt) Master in Real Estate and Project Management (MRE-PM)

Level (I, H, or M)

M

Number of Credits

This course carries a weight of 20 credits of the Homburg Academy, which is equal to 10 ECTS (European Credit Transfer System credits).

Learning Time This course requires approximately 200 hours of learning time. This includes all taught and supervised classes and all private study and research.

Stage (I or II, where applicable)

Stage I

Is this Course Core, Specialist or Elective

Elective for all programs listed

Courses that are pre-requisite or co-requisite

None

Name of Course Convenor

Dr Juan Diaz

Position

Adjunct Professor

Email address

jdiaz@cssproject.org

Brief Course Summary

This course enables students to learn and to deploy successful negotiation strategies for business. The course examines the process of negotiation, from the pre-negotiation to the conclusion phases. It enables students to understand the differences between traditional two-party negotiations and multilateral negotiations, as well as the differences between the national and international business environments and the impact of structure on business negotiations and the influence of culture.

Course Objectives The learning objectives for this course are to enable students to:

Understand the main theories and conceptual approaches to negotiation, in particular the meaning and nature of negotiation tactics, including coercive, win-win, and problem-solving techniques; the opportunities and risks of each approach;

Understand the process of negotiation, including such concepts as the moments of 'ripeness' , 'hurting stalemates' and other terms of art in the field of negotiation;

Understand how to apply and develop techniques for successful business negotiations;

Understand the influence of culture on negotiation, the art of cross-cultural communication, and how to succeed in international negotiations.

Understand the different forums in which negotiation takes place, including bilateral and multilateral negotiation, and the differences and similarities between inter-firm negotiation, government relations, and lobbying.

These specific learning outcomes contribute to achieving the learning outcomes of the relevant programs by demonstrating knowledge of the following (mapped to the Program Specification): A. Advanced knowledge and understanding of: 12.A.5: How to carry out an independent research project and write in a scholarly manner demonstrating familiarity with academic conventions in the preparation of the student’s case study report. B. Intellectual skills: 12.B.1: Develop general research skills, especially bibliographic and computing skills in finding, selecting, and analysing materials for the independent project; 12.B.2: Learn to gather, organise and deploy evidence, data and information from a variety of secondary and some primary sources; 12.B.4: Learn to identify, investigate, analyse, formulate and advocate solutions to problems;

12.B.5: Develop problem solving skills, including the ability to identify and define problems, and to establish strategies for dealing with them including criteria for success, mapping optimum and alternative solutions, and exercising critical judgement to discriminate between the ranges of alternatives; 12.B.6: Synthesise relevant information and exercise critical judgement in the development of reasoned arguments; 12.B.7: Enable students to reflect upon and manage their own learning, and seek to make use of constructive feedback from staff and peers to enhance their performance and personal skills. C. Subject-Specific Skills 12.C.3: Be able to discriminate between forms of knowledge and be able to draw selectively and appropriately on them;

D. Transferable skills: 12.D.1: Develop autonomy in learning, work independently demonstrating initiative and self organisation; 12.D.2:. Work co-operatively on group tasks, understand how groups function, collaborate with others and contribute effectively to the achievement of common goals; 12.D.3: Use communication and information technology for the retrieval and presentation of information, in the form of prose or numeracy as appropriate; 12.D.4: Develop communication skills, both orally and in writing. Communicate clear, succinct, analytical ideas; 12.D.5: Prepare and deliver oral presentations individually and as part of a group.

List of Lecture Topics

1 Introduction to Negotiations Online Lecture

2 Distributive Bargaining Online Lecture

3 Interest-Based Negotiation Online Lecture

4 Negotiation Analysis Online Lecture

5 Process Design Online Lecture

6 Multilateral Negotiation Theory Online Lecture

7 Inter-cultural Competence Online Lecture

8 Communication Capstone

9 Dealing with Difficult People Capstone

10 Beyond Negotiations towards adding Mediation Capstone

Learning and Teaching Methods Achievement of learning outcomes: the learning outcomes for this course are achieved through student participation in lectures (compulsory), in their active participation in seminars (compulsory), and in their fulfilment of the assessed elements (compulsory). This is a ten week course that is offered entirely online. In each week there is a lecture presentation for approximately one hour, plus an interactive seminar discussion for approximately one hour. Lecture presentations led by the course professor. The lectures are designed to introduce key theories, practices, and methods in real estate appraisal, and to guide students through an understanding of their rationale, their uses, and their limitations, so that students may both understand and reflect critically upon the techniques in negotiation. The lectures contribute to the achievement of learning outcomes by guiding students through the main theories, concepts, and debates in the scholarly literature, as well as the contested concepts and methods. Seminar Discussions are led by students under guidance of the course professor. The seminar is the opportunity for students to gain clarification of the lecture material and the reading materials. Also, through these guided discussions, it is intended that students will gain a comprehensive understanding by linking lectures, independent reading and class discussion, enabling students to apply concepts, theories, and methods to the practice of negotiation. Through dialogue, interaction, cooperation, and confrontation, students learn to formulate, structure, and defend their perspectives. Independent Study: students are expected to read the stipulated text for each lecture and seminar session, as well as to read more widely in recommended texts for this course. Additionally, students are expected to conduct independent research for their contribution to seminar discussions, and for their research project. Learning outcomes for independent study are achieved through students’ own reading, research and preparation, seminar presentations, and in their research project.

Indicative Reading List Anstey, M. (1991) ‘Distributive and Positional Bargaining’, in Negotiating Conflict, London: Juta and Co,

LTD.

Burrel, T. (2009). Create a Great deal: the Art of Real Estate negotiation, Columbia: Silloway Press.

Druckman D. (2009) ‘Intuition or Counterintuition? The Science behind the Art of Negotiation’,

Negotiation Journal, October, pp. 431 - 446.

Fisher, R., W. Ury and B. M. Patton. (1991) Getting to Yes, New York: Penguin Books.

Hopmann, P. T. (1995) ‘Two Paradigms of Negotiation: Bargaining and Problem Solving’, Annals of the American Academy of Political and Social Science, vol. 542, pp. 24 - 47.

Lewicki, R. J., Saunders, D. M., and Barry, B. Negotiation, Fifth Edition, McGraw-Hill Irwin, 2006.

Malhotra, D. and Bazerman, M. Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond

Pruitt, G. D. (1983) ‘Strategic Choice in Negotiation’, American Behavioral Scientist November, vol. 27, no. 2, pp. 167-194.

Salacuse, J. (2002) Coping with Culture, in Making Global Deals, Cambridge: PON Books, pp. 42-71

Ury, W.L., J. M. Brett and S. B. Goldberg. (1988) ‘Three Approaches to Resolving Disputes: Interests, Rights and Power’, in Getting Disputes Resolved: Designing Systems to Cut the Cost of Conflict, San Francisco: Jossey-Bass, (November).

Wheeler, Michael. "How to Negotiate Successfully Online." Negotiation 7, no. 3 (March 2004).

Method of Assessment (and how the chosen method of assessment is related to learning outcomes) The course will be graded by means of three assignments. The first assignment is a negotiation assessment. Students will be asked to research important real estate negotiation in their home countries and to do an assessment of the process and outcomes according to their course instruction on theories of negotiations. The second assignment is a report on the one day simulation during the capstone week. Students will be asked to submit their preparatory documented and to write a report on the outcomes. It will allow students to reflect on their practice of negotiations. The last assignment will be a final team negotiation project in which they prepare their own real estate negotiation in teams and will do online negotiations with each other. Student will then report back their results. It will allow student prepare, execute and report on a real estate negotiation having an overview of the whole process.

Summary of Assessed Elements, and Percentage Weight of Each Element

Negotiation Assessment 20%

Simulation Report 40%

Team Negotiation Report 40%