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Unit of study_

IBUS3107: Business Negotiations

The purpose of this unit is to build students' understanding of the theory of negotiation as it is practised in a variety of strategic settings. The aim is to build students' confidence with the negotiation process. The unit is relevant to the broad spectrum of negotiation problems that are faced by managers and specific examples from international strategy such as M and A and joint ventures are used. The unit provides participants with an opportunity to develop skills experientially and to understand negotiation in useful analytic frameworks. Considerable emphasis is placed on role-playing exercises and case studies. This unit requires participation in a number of negotiations. Preparation for these negotiations, which are a large part of the final grade, requires time-pressured reading of material in class.

Code IBUS3107
Academic unit Strategy, Innovation and Entrepreneurship
Credit points 6
Prerequisites:
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Completion of at least 48 credit points
Corequisites:
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None
Prohibitions:
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None

At the completion of this unit, you should be able to:

  • LO1. Apply the underlying theories, concepts, assumptions and arguments to better your negotiation strategy and result.
  • LO2. Conceptualise the links between strategic, tactical and operational perspectives in problem solving and decision making.
  • LO3. Analyse the central concepts in negotiation and use this knowledge to systematically understand and evaluate the negotiation process.
  • LO4. Conceptualise realistic international business simulations and evaluate the costs and benefits of alternative strategies and tactics and apply these strategies.
  • LO5. Identify systematic biases in the judgment of decision makers, and relate this to your own behaviour in negotiating with the view to improving negotiation practice.
  • LO6. Identify systematic biases in the judgment of negotiators, and relate this to your own behaviour in negotiating with the view to improving negotiation practices, and how the perception of fairness affects negotiations.
  • LO7. Understand the way in which emotions, relationships, and the perceptions of fairness affect negotiation and consider the broader ethical implications of various negotiation tactics.

Unit outlines

Unit outlines will be available 1 week before the first day of teaching for the relevant session.

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