21 Oct 2016
LBS Women in Business host ‘art of negotiation’ event
Emotions have an important role in negotiations, but you should not be guided by them as and when you feel them, says a London Business School expert.
Speaking at the LBS Gulf Association’s LBS Women in Business club, Ena Inesi, Associate Professor of Organisational Behaviour, London Business School, said: “Strategically, emotions can be very effective to communicate a point at the right time.
“Successful negotiation is an art form that comes naturally to some, but must be learned by most”, says Inesi. “We often think of negotiation in a business context, but in reality we negotiate from dawn to dusk on issues ranging from household chores and deciding which restaurant to go to over the weekend, to life-changing decisions.”
London Business School’s Women in Business Club and K&L Gates hosted a panel of experts in negotiation which provided insights and tips on the art of negotiation such as:
• Always prepare extensively
• Humour can be a good way to diffuse tense moments
• Despite technological advances, the human, psychological part of negotiation will always play a, if not the, critical role
Samineh Shaheem, Assistant Professor of Cross Cultural Psychology at Hult International Business School in Dubai, who was also on the panel, added: “In order to display confidence and determination in negotiation, one needs to have mastered internal negotiations. It is through those internal negotiations that we are able to display power and confidence.”
Inesi said: “Taking a break during a negotiation is not a sign of weakness. Take a break to get some more information.”
William Reichert, Partner at K&L Gates LLP, also on the panel, said: “Keep things human.”
The event was attended by students, alumni, LBS Women in Business members and K&L Gates associates at the prestigious Capital Club Dubai on 19 October.