Pre-requisite: (B8412) Managerial Negotiations
How do you apply your Managerial Negotiation skills to strategic talks involving experienced professionals, legal issues, and serious performance and implementation risks? How do you negotiate term sheets and contracts without losing sight of the long-term relationships or your strategic vision? How do you and your team decide whether a pivotal financing offer is wise or foolish? In this innovative and practical course, you learn answers through realistic simulations, exercises, and demonstrations, including ones with actual professionals (such as lawyers or law students, and business executives). You work on everything from VC deals to high-tech venture workouts, secured financings to multi-million dollar supply deals. You build a number of practical new tools and principles for managing the special challenges you face in key corporate transactions. Along the way, you grapple with conflicting advisors’ opinions, bare bones proposals, draft contracts, power imbalances, and performance risks. You see the effects of your agreements months later. You examine real strategic agreements, and meet with one or more guest speakers who actually negotiate such deals. The course complements Managerial Negotiation, adding ideas you can use in management, entrepreneurship, joint ventures, finance, and executive projects. Managerial Negotiation is a prerequisite for the course.
Seth Freeman was a Columbia Business School faculty member from 1997 to 2016.