Bonus Day: October 26, 2023, 8:30 a.m. – 4:30 p.m. ET
Future Proofing: How to Make Sure Your Negotiated Agreement is Good for the Long Term
Faculty: Brian Mandell and Tim McDonald
In these post-pandemic times, negotiators face unprecedented levels of uncertainty and disruption, which can put their most consequential deals at risk. Instability in supply chains, fluctuating currencies, rising interest rates, and geopolitical turmoil have made playing the long game more important than ever. To protect agreements and lock in the commitments of the negotiated deal, negotiators need to future-proof their agreements.
What is Future proofing?
Successful negotiators know that preparation is essential before coming to the bargaining table. They also anticipate the breakdowns that can happen after agreements are reached—and proactively make plans for addressing them.
Failing to future-proof a negotiation can undo hard-won gains and undermine trust in important relationships. Failing to anticipate shocks and predictable surprises can be costly—especially for organizations seeking to sustain competitive advantage and create new sources of value. Future proofing helps in several ways by:
- Ensuring the successful implementation of negotiated agreements
- Helping negotiators develop strategies that align with broader organizational goals
- Increasing the resiliency of deals, if disruptions arise once an agreement is reached.
In this one-day bonus program, you will develop new competencies for future proofing your negotiations. Specifically, you will:
- Conduct a “pre-mortem analysis” to anticipate where negotiations can break down and hedge against non-performance risks
- Practice scenario visioning and assumption-based planning to “see sooner faster” and create robust deal strategies that can succeed in an uncertain future
- Utilize guidelines and a scorecard that outlines deal objectives and measures negotiation preparation, both before and after the
- Learn how to assemble support teams to monitor the negotiation and its implementation
This one-day program is ideally suited for individuals who have ongoing responsibilities for leading negotiations and who understand the importance of future proofing a deal.