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2021/2022  KAN-CCMVV5035U  Business Negotiation

English Title
Business Negotiation

Course information
Language English
Course ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 80
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Palle Høy Jakobsen - Department of Strategy and Innovation (SI)
Main academic disciplines
  • Management
Teaching methods
  • Blended learning
Last updated on 15-02-2021

Relevant links
Learning objectives
To conduct successful business negotiations through understanding of how to prepare for a negotiation, how to conduct a negotiation in different business, cultural & emotional contexts & how to implement a negotiation outcome
  • Describe and apply the basic strategies in several negotiation situations
  • Manage conflict in a way that improves rather than harms relationships during a negotiation
  • Develop awareness of negotiation style and gain valuable experience from re-peated negotiation exercises
  • Explain how a range of negotiation situations and the strategies appropriate to specific situations at the bargaining table
  • Identify the psychological process underling the decisions of negotiators and the biases that typically affect them.
  • Explore negotiations that contain elements of both cooperation and competition, and learn how to create values in negotiations that lead to success.
  • Learn how to successfully prepare for a negotiation
  • Critique and evaluate the strategies and mistakes that affect the outcome of real life negotiations
Examination
Business Negotiation:
Exam ECTS 7,5
Examination form Written sit-in exam on CBS' computers
Individual or group exam Individual exam
.
Assignment type Written assignment
Duration 4 hours
Grading scale 7-point grading scale
Examiner(s) One internal examiner
Exam period Winter
Aids Closed book: no aids
However, at all written sit-in exams the student has access to the basic IT application package (Microsoft Office (minus Excel), digital pen and paper, 7-zip file manager, Adobe Acrobat, Texlive, VLC player, Windows Media Player), and the student is allowed to bring simple writing and drawing utensils (non-digital). PLEASE NOTE: Students are not allowed to communicate with others during the exam.
Make-up exam/re-exam
Same examination form as the ordinary exam
If the number of registered candidates for the make-up examination/re-take examination warrants that it may most appropriately be held as an oral examination, the programme office will inform the students that the make-up examination/re-take examination will be held as an oral examination instead.
Course content, structure and pedagogical approach

Topic Lecture 1: Purpose and setup of the course; Introduction to Negotiation

Topic Lecture 2: Emotions & Social Dilemma in Repeated Negotiations ?

Case study/Exercise 1: Exercise in Roles, emotions & dilemmas in a negotiation team

Topic Lecture 3: Strategies of influence

Case study/Exercise 2: Exercise in ZOPA (manufacturing plant) negotiation

Topic Lecture 4: Business Negotiations ?

Case study/Exercise 4: Exercise in Two-party licensing negotiation

Topic Lecture 5: Preparing for negotiation of commercial agreements

Case study/Exercise 5: Exercise in Term-sheet Negotiation

Topic Lecture 6: Game theory

Case study/Exercise 6: Game theory

Topic Lecture 7: Multi-party negotiations

Case study/Exercise 7: Exercise in Multi party business negotiation

Topic Lecture 8: Biases in Negotiations, Judgments and Decision-making

Case study/Exercise 8: Exercise in Joint Venture negotiation

Topic Lecture 9: Cross-Cultural Negotiations

Case study/Exercise 9: Exercise in Parallel negotiations

Topic Lecture 10: Legal perspectives of Negotiations

Case study/Exercise 10: Case study: Camp David Negotiation  

 
Description of the teaching methods
The teaching of this course will be based on a variety of learning methods, such as lectures, group activities, exercises and class discussions of cases.
Feedback during the teaching period
In in-class case discussions, which take up the bulk of the course, feedback is provided continuously during the exercise and case analysis, partly by the instructor and partly by peers with the instructor facilitating peer-to-peer discussion.
Student workload
Preparation 100 hours
Exam 66 hours
Teaching 40 hours
Expected literature

Books:

David A Lax and James K Sebenius: 3D Negotiation (2006) Harvard Business School Press. ISBN 1- 59139-799-5

Palle H Jakobsen: Negotiations, decision making and better negotiated solutions (2018 in press) Saxo Publish.

 

Articles:

  • Subramanian, G. (Dec 2009). Negotiation? Auction? A deal maker´s guide. Harvard Business Review, 101-107.
  • White, S. B. and Neale, M. A. (1991). “Reservation prices, resistance points, and BATNAs: Determining the parameters of acceptable negotiated outcomes.” Negotiation Journal.
  • Lytle, A. L., Brett, J. M., & Shapiro, D. L. (1999). “The strategic use of interests, rights, and power to resolve disputes,” Negotiation Journal.
  • Allred, K. (2000). “Distinguishing best and strategic practices: A framework for managing the dilemma between claiming and creating value,” Negotiation Journal.
  • van Veelen, M, García J, Rand D.G., and Nowak M.A. (2012). “Direct reciprocity in structured populations“ PNAS, vol. 109, no. 25, 9929–9934.
  • Brett, J. M. and Gelfand, M. J. (2005). “Lessons from abroad: When culture affects negotiating style,” Negotiation.
Last updated on 15-02-2021