Business Negotiation is an essential business skill set for all corporate bankers. Apart from product-sales, price-rates or eligibility negotiation, every relationship manager must effectively negotiate their business relationships with clients. The course introduces best practices and processes beginning with the context of business banking relations, and subsequently moving into specific persuasion skills that will increase the level of success in negotiation situations. Participants will gain confidence and learn actionable strategies through the four phases of negotiation to apply to specific negotiation scenarios.

• Relationship Managers and Assistant Relationship Managers

Recommended for:

• Corporate Banking

Learn Best Practices and Processes

• Identify and acquire new mindset and tools with the best negotiation moves through proven negotiation principles and practices distinct to business banking sectors.

Improve Negotiation Outcomes

• Increase efficiency in negotiation by identifying and taking actions to build relational engagement and gain more confidence in negotiating with customers.

Prepare and Practice

• Acquire hands-on “prepare and practice tips” on negotiating in business banking cases to strengthen negotiation approach and methodologies.

Learn to steer and manage the negotiation process towards a win-win outcome for customer and bank

• Develop a bargaining process that maximises value and minimizes risk by overcoming resistance or conflicts to ensure long-term relationship with customers.
• Learn to establish up-selling and cross-selling opportunities through business relations negotiation.

Defining Negotiation in Business Banking

• Negotiation vs influence: What is the difference?

Module One : Principles of Win-Win Negotiation

• Negotiation Process
• Adversarial Negotiation vs Collaborative Negotiation
• Principles of getting a good deal

Module Two: Context of Negotiation in Business Banking

• Context of Business Banking Negotiation
• Role of the RM
• Negotiation issues in the Context of Business Banking
  • Relational Positioning with Customers

Module Three: Building Blocks of Successful Negotiation

• Competencies of a Good Negotiator
• The 3-A Approach in Negotiation
  • Awareness:
    • Relation
    • Context
    • Interests
  • Anticipation:
    • Barriers
    • Counter Proposals
    • The ZOPA theory

Module Four: The Negotiation Cases – Bargaining & Closure

• Adapt
  • Understanding BATNA
  • Introducing the Bargaining Phase

Actionable Negotiation Tips

• Negotiation Communication Skills
• The 5 Steps of the The Bargaining Approach
• The 3 Cases of Negotiation issues in the Context of Business Banking
  • Product & Services Sales Negotiation
  • Eligibility Negotiation
  • Price and Rates Negotiation
• Sealing the Commitments in Negotiation
  • The 4 Areas of Closing the Deal
  • The 4 After-Steps