Leadership Development Masterclass: Embracing Negotiation – Mastering the Everyday Encounter

On 12 October 2024, YWLC hosted a Leadership Development Masterclass titled "Embracing Negotiation—Mastering the Everyday Encounter" held at the Intellect office, facilitated by Anna J. Breimer Bharati, founder of Tomorrow College and Managing Director of The Breimer Group.

Through interactive discussions and hands-on exercises, attendees delved into key negotiation concepts such as value creation, BATNA (Best Alternative to a Negotiated Agreement), and ZOPA (Zone of Possible Agreement). The session aimed to empower participants to approach negotiations with a fearless mindset and encourage participants to embrace the process confidently.

Key takeaways from the session included:

• Negotiation is Everywhere: It’s not limited to promotions, compensation, or major deals - negotiation plays a role in everyday encounters.

• Myths Dispelled: Contrary to popular belief, you don’t need specific skills to be a good negotiator. Additionally, being transparent and sharing information openly often leads to better outcomes than secrecy.

• Value Creation vs. Value Capture: Focus on increasing the size of the cake (value creation) rather than just trying to get a bigger slice (value capture). This shift in mindset opens up more possibilities for collaborative success.

• Understanding BATNA: Knowing your BATNA, or fallback option, is critical. Equally important is understanding the other party's BATNA to identify a deal space (ZOPA) where both sides can agree.

• No Deal is Sometimes the Best Deal: If a deal doesn't meet your objectives, walking away from it can be the right decision.

• Beyond Financials: Negotiation isn’t just about money—many non-financial aspects can be just as valuable.

• The Power of Listening: An important negotiation skill is listening. The more the other party shares, the more information you can use to create mutually beneficial solutions.

Anna also recommended reading Chris Voss's book “Never Split the Difference” for those looking to sharpen their negotiation skills further.

YWLC’s Masterclasses aim to build participants’ leadership competencies through practical workshops, in learning from exemplary leaders and speakers to better navigate their personal and professional lives.

Speaker: Anna J. Breimer Bharati

Venue partner: Intellect

Author: Blanche Lim

Organising team: Samantha Halim, Amanda Chew, Blanche Lim, Jane Sea, Joping Chai