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Self-Study

Effective Negotiation

5 Credits: Business Management & Organization

$145.00 – $175.00

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Effective Negotiation

Format
Self-Study
Course Level
Overview
CPE Credits

5 Credits: Business Management & Organization

Course Description

Navigating the art of negotiation can be complex and intimidating, often leaving professionals uncertain about their strategies and outcomes. Effective Negotiation offers a comprehensive solution to this challenge, providing an insightful overview of the negotiation process tailored for professionals in the tax, accounting, and finance sectors. This course introduces foundational negotiation concepts like the best alternative to a negotiated agreement (BATNA), reservation price, and the zone of possible agreement. It distinguishes between distributive and integrative negotiations, outlines essential characteristics of a successful negotiator, and dives into preparation tactics and negotiation techniques. Moreover, the course addresses handling failing negotiations and negotiating with employees and suppliers. By the end of this course, participants will not only understand the intricacies of negotiation but will also be equipped with practical strategies to enhance their negotiation outcomes, making them more confident and effective in this critical business skill.

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Learning Objectives

  • Learning Objectives:•Recognize when it is not appropriate to engage in a negotiation.•Describe how value creation through trades works.•Describe the different win-loss combinations and what causes each one.•Specify the core elements driving the outcome of a deal.•Describe the characteristics of a successful negotiator.•Recognize the impact of anxiety on a negotiation.•Identify the types of preparation work to complete prior to a negotiation.•Describe how to deal with a weak BATNA.•Specify the circumstances under which to hire a professional negotiator.•Specify the advantages of framing in a negotiation.•Cite the options available for relieving tension in a negotiation meeting.

    •Recognize the nature of the negotiator’s dilemma.

    •Specify the variations on how a commitment statement can be sent.

    •Recognize the situations in which an exploding offer may be used.

    •Describe when final-offer arbitration is used and its shortcomings.

    •Specify the differences between arbitration and mediation.

    •State why a negotiation should be fully documented.

    •Describe why the timing of additional settlements can be beneficial.

    •Identify the options for reducing the financial burden of a compensation arrangement.

    •Identify the members of a negotiation team and note why they are on the team.

    •Recognize the different types of cost-sharing clauses that may be used with a supplier.

    •Specify the offsetting clauses that can be used when a buyer wants to include an early contract termination clause in a contract.

    •Identify the factors that can be used to judge the outcome of a negotiation.

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Course Specifics

Course ID
6161287
Revision Date
August 19, 2022
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Number of Pages
104

Compliance Information

NASBA Provider Number: 103220

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …

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