The Psychology of Negotiation – Peter Smith Speaking at CIPS Huntingdon Meeting

On Tuesday June 27th I’m speaking at the CIPS Cambridge and Peterborough Branch event at Huntingdon Racecourse. Registration starts at 6pm, and it is a double-header. As well as me, you will hear from William Warren of Hays who will be talking about the 2017 CIPS / Hays Procurement Salary Guide. Come and find out how much you’re worth! We are told that “William will discuss the report findings, giving insight on salary trends across various sectors and regions and the benefits candidates are really looking for in their next career move”.

Then I will be talking about what recent thinking in behavioural psychology means in terms of negotiation strategy and approaches. If you have read the brilliant book “Thinking Fast and Slow” by Nobel Prize winner Danial Kahneman, you will know how important these issues are and how useful it is that we understand how our brains work. It plays into both our daily personal and business lives in so many ways, as well as giving some hints as to how people like Derren Brown do what they do.

Kahneman won the Nobel Prize for economics, despite being a psychologist, not an economist. But his findings showed that economic models based on people behaving logically when it came to financial and economic decisions were flawed, because we're not logical creatures in all situations. The same applies to negotiation and indeed many aspects of business life.

There are certainly some important lessons here for buyers and negotiators around issues such as risk aversion and anchoring. Some of the thinking supports our long-standing theories and views on negotiation, but in other cases, the latest thinking might need us to change our ways.

My session will draw on workshops I did with BravoSolution in the UK and UAE a while back. Those went down very well with the audiences – I will update some content though because this is a field that is changing rapidly.

The session will have some audience involvement too – nothing embarrassing or too onerous, don’t worry. It’s also not about “teaching negotiation” but I’ll try and use exercises to show how some of these psychological effects and biases work, and what we can do to make sure they don’t get in the way of effective negotiations. I hope it will be a fun session too with a few laughs maybe along the way!

You can book here and it is free to CIPS members; hope to see some of you at Huntingdon.

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