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PSY 126 Week 10: Networking & Negotiating

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PSY 126 Week 10: Networking & Negotiating

  1. 1. Networking & Negotiating Matthew L. Eisenhard, Psy.D. Week 10: Psychology for Business & Industry
  2. 2. Networking • The ongoing process of building interconnected relationships. ▫ Purpose is for politicking and socializing. • Networks are: ▫ Clusters of people joined together by a variety of links. ▫ Primary and secondary connections.
  3. 3. Networking Objectives • To get a job – or a different one. • To perform better at your current job. • To advance in your organization. • To stay current in your field. • To maintain mobility. • To develop and maintain relationships – professional and personal.
  4. 4. Networking Process • Self-assessment exercise 10.1. • Five basic tasks: 1. Perform a self-assessment and set goals. 2. Create a one minute self-sell. 3. Develop a network. 4. Conduct networking interviews. 5. Maintain the network.
  5. 5. Self-Assessment & Setting Objectives • Helps clarify your skills, competencies, and knowledge. • Gives insight to what is important to you. ▫ Accomplishments  Write down at least 2 to 3 that define your skills and abilities – include in your resume. ▫ Tying accomplishments to job interview  When asked to describe yourself, use the accomplishments statement in your resume. ▫ Set networking objectives  Clearly set goals – break it down into specific tasks.
  6. 6. Your One Minute Self-Sell • An opening statement used in networking that quickly summarizes your history and career plan and asks a question. ▫ Should be 60 seconds or less. ▫ Be concise – clear – compelling. ▫ Outline  History  Summary of highlights of your career to date.  Plans  What you are seeking – be specific.  Question  Ask question to open two-way communication.
  7. 7. Develop Your Network • Start with primary contacts – people you know. ▫ Document these contacts. • Ask for secondary contacts – keep growing the list. ▫ Include people you do not know. ▫ Get involved with the community – clubs, organizations, volunteer work, etc. ▫ Meet and greet.  Use the one minute self-sell.
  8. 8. Networking Interviews • Informational interviews are designed to help learn specifics about your field of interest. ▫ Can be a phone call.  Better if face to face. ▫ Ask for 15-20 minutes of their time. ▫ Most people are willing to help you.  Do not go over your allotted time – unless asked to stay.  Leave business cards and resumes.
  9. 9. Networking Interview Process • Establish rapport. ▫ Praise and read the person. ▫ Thank them for their time. ▫ State your purpose clearly. • Deliver your one minute self-sell. ▫ Even if it is a repeat – it leads into your questions. • Ask prepared questions. ▫ Have a short list of concise and relevant questions. • Get additional contacts. ▫ Always ask for names of other people to contact. • Ask how you can be of help to them. ▫ Or better yet bring something that may interest them – reciprocity. • Follow-up with thank you note and status report. ▫ Good idea to document meetings and follow-up calls.
  10. 10. Maintaining & Coalitions • Keep everyone in your network informed of your progress and status. ▫ If someone was particularly helpful, let them know. • Always continue to grow and update your network. • A coalition is a short-term network used to meet a specific goal. ▫ Use it to help you influence the people in power that you need to further your aspirations.
  11. 11. Digital Networking • Follow the same rules as in-person networking. • Think about using LinkedIn for business networking. ▫ Businesses are using social networking to increase their business. ▫ Follow the company policies about using work hours for networking, social or otherwise.
  12. 12. Negotiating • Process in which two or more parties have something the other wants. ▫ An attempt to come to an exchange agreement. ▫ It is also called bargaining. • Power, influence tactics, & politics can all be used in the negotiating process. • Self-assessment 10.2 examines your negotiating skills.
  13. 13. When & Where? • We negotiate when there is a conflict of interests. ▫ Union bargaining (others bargain for us). ▫ Accepting a job. ▫ Getting a raise. • If there is no set price or “wiggle” room, then no negotiation/bargaining can/will take place. ▫ Can you name some acceptable and unacceptable times and places?
  14. 14. Two Negotiating Strategies • Distributive Bargaining ▫ Negotiating over shares of a fixed pie. ▫ Creating win-lose situations. ▫ Zero-sum game = any gain made at another party’s expense. • Integrative Bargaining ▫ Negotiating to give everyone a good deal. ▫ Creating win-win situations. ▫ Trust is a major factor.  Must be open, honest, and flexible.  The “good deal policy.” ▫ Good negotiating skills can be learned – and are in high demand.  Good leaders are good negotiators.
  15. 15. Process of Negotiating • 3, maybe 4 steps. 1. Plan 2. Bargain 3. Maybe a postponement 4. Agreement – or no agreement.
  16. 16. The Plan • Success or failure depends on a good plan. ▫ Research the other party.  Know your opponent well. ▫ Set goals.  Have a specific target and be willing to walk away unless you get it.  Open with something higher that what you will settle for. ▫ Anticipate questions and objections from your opponent.  Be ready to answer everything that could possibly come up from them. ▫ Develop options and trade-offs.  If you have to give up something, be ready to ask for something in return.
  17. 17. The Bargaining • Develop rapport. ▫ Read the other person. ▫ Focus on obstacles. ▫ Never attack the other person on a personal level – no name calling allowed. • Let the other party make the first offer. ▫ Use this as a starting point. • Listen and ask questions about the other party’s needs. ▫ Remember people want control and respect. • Do not move too fast. ▫ Ask for something in return. ▫ Do not look desperate or intimidated. ▫ Make the first concession (it makes them feel obligated), but do not make unilateral concessions.
  18. 18. To Postpone or Not? • Honesty and integrity are imperative for a good negotiator. • Do not create a sense of urgency. ▫ Unless it is really true. • Know when to pressure and when to let it go. ▫ Sometimes agreeing to let ▫ someone sleep on it may be best. ▫ You need to read between the lines, read the nonverbals.
  19. 19. Agreement or Not • Everyone agrees on the terms. ▫ Or… no agreement can be made. • If an impasse is met, consider bringing in a 3rd party or mediator. ▫ Difference between good and not so good negotiators is how they respond to failure.  Learn from your mistakes.  Maintain your enthusiasm.  Maintain your optimism.  Come back another day.
  20. 20. Networking and Negotiating Globally • Be alert to cultural differences. • Variations for global negotiating: ▫ Time to reach an agreement. ▫ Focus on relationships versus task. ▫ Use of power tactics. ▫ Verbal and nonverbal communication. ▫ Correct greetings and rituals.
  21. 21. Global Negotiating Examples • Israeli’s like a good argument. • Japanese prefer being civil. • French like to take their time and like conflict. • Chinese like to drag things out. • Americans and impatient and want quick results. • Japanese and Chinese expect to exchange gifts. • Russians view concessions as a sign of weakness. • Japanese expect to do business over dinner and drinks. • Islamic cultures ban alcohol.
  22. 22. Influencing Process
  23. 23. Main Points • Networking process • Create your own “one-minute self-sell” • Negotiating “let’s make a deal”

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