Succeeding in Complex and Difficult Negotiations

By Patricia Van Arnum - DCAT Editorial Director

June 26, 2019

Whether on the “buy” or “sell” side, using the right negotiation tools and strategies is crucial. In DCAT Sharp Sourcing LIVE, a webinar from DCAT livestreamed from London, Niro Sivanathan, PhD, Associate Professor, London Business School, shares insight from working with Fortune 500 companies, including the pharmaceutical majors.

Being more proficient at the bargaining table

The webinar, “Succeeding in Complex and Difficult Negotiations," will be held on Thursday, July 18th from 11:00 AM to 12:30 PM EDT and will be livestreamed from London and feature Niro Sivanathan, PhD, Associate Professor, London Business School, an internationally recognized expert on influence, persuasion and negotiations. The webinar will be moderated by Joe Sutton, Global Director of Sourcing, Eli Lilly and Company, a seasoned industry executive with more than 25 years of experience supporting the manufacturing organization and with current responsibility for developing and implementing the global sourcing strategies for active pharmaceutical ingredients and drug product manufacturing, facilities management and utilities. In addition to a presentation by Dr. Sivanathan, the interactive webinar will feature a question-and-answer portion in which the audience can pose questions. For those unable to attend the live event on July 18th, the archived webinar will be available for on-demand viewing.

Niro Circle web

Niro Sivanathan, PhD
Associate Professor,
London Business School
Executive Trainer and Negotiation Expert

Dr. Sivanathan will share his experience working with Fortune 500 companies, including leading pharmaceutical companies, and draw from Nobel Prize-winning research, to provide tools, tips, and concrete ways to enhance your influence and negotiation skills to gain greater proficiency at the bargaining table.

“Unlike typical negotiations seminars and workshops that concentrate on the structural components of negotiations, in this webinar, we will delve into some of the psychology of negotiations, and more specifically, the psychology of decision-making, and even more specifically, some of the biases that all of us fall victim to,” says Dr. Sivanathan. “If you can understand the systematic ways in which we fall into these biases, you can utilize them to be more influential both at the bargaining table and well beyond,” he says. “I will give you real-life examples from both the corporate arena and elsewhere to highlight both the ubiquity of how to utilize this to be more influential, but also the path-dependent manner by which if you could understand on how to frame proposals, options, and choices, you can get others to buy into those options.” Hear more from Dr. Sivanathan about the webinar.

The webinar was designed and exclusively developed for members of the Drug, Chemical and Associated Technologies Association (DCAT) by DCAT’s Supply Management Committee, which is composed of senior to mid-level executives from DCAT member companies engaged in sourcing, procurement, and supply management. This “inside-the-trenches” view from seasoned executives was instrumental in guiding the development of the webinar to address difficult and challenging situations that arise in negotiations, such as on how to overcome stalemate and get past “no” or how to move a negotiation forward in deleveraged situations, such as in single-source supply relationships or with key customer accounts.

JoeSuttonweb

Joe Sutton
Global Director of Sourcing
Eli Lilly and Company

Dr. Sivanathan brings a wealth of experience and knowledge in providing expert advice on influence and persuasion, negotiation strategies, decision-making, and leading change. He has consulted for and acted as an advisor for senior leaders and worked on executive programs for major pharmaceutical companies, such as GlaxoSmithKline, Roche, Merck, Janssen, and Sanofi, as well as for major companies, such as IBM, Procter & Gamble, Nestlé, Lufthansa, Vodafone, McDonald’s, Prudential, and Mars, and international organizations, such as the World Economic Forum, the Young President’s Organization (a global network of young chief executives), and Entrepreneurs Organization.

His work has been presented at leading international conferences and published in the very top international journals in the field of science, management and psychology, such as: Proceedings of the National Academy of Sciences, Nature Human Behaviour, Organizational Behavior and Human Decision Processes, Administrative Science Quarterly, the Journal of Applied Psychology, and Psychological Science. He has also translated this rigorous work into global practitioner outlets such as the Harvard Business Review.  His research has garnered international press coverage at CNN, the Financial Times, Time Magazine, the Wall Street Journal, the Sunday Times, and Forbes.

Behaviorial economics: Nobel Prizing-winning research and negotiations

In addition to his hands-on experience in working with leading companies, Dr. Sivanathan’s insights draw on Nobel Prize-winning research. In 2002, Daniel Kahneman, PhD. a psychologist and economist noted for his work on the psychology of judgment and decision-making as well as behavioral economics, was awarded the 2002 Nobel Memorial Prize in Economic Science. He was recognized "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty," outlined the Nobel Prize organization in awarding him the Nobel Prize. “His work has inspired a new generation of researchers in economics and finance to enrich economic theory using insights from cognitive psychology into intrinsic human motivation.” In 2017, Richard Thaler, Professor of Behavioral Science and Economics, University of Chicago, was also recognized for his contributions to the field of behavorial economics and was awarded the Nobel Prize in Economic Sciences.

As a professor of organizational behavior at the London Business School, the number one business school in Europe and top five globally, Dr. Sivanathan applies his knowledge and research to bring a unique perspective on influence, negotiations, and decision-making and how it can be applied in practical and useful ways. “With Prof. Niro Sivanathan, we took a neuroscientific path to enhance our influencing and negotiation skills,” commented a chief procurement officer at one of the Fortune 500 companies in which Dr. Sivanathan provided executive training. “It was an intense moment of learning, and I believe every participant remembers it as a turning point in building his own and our team’s professional capability and performance.”

About Sharp Sourcing Live

The webinar is part of DCAT Sharp Sourcing LIVE, a special education series, provided exclusively to DCAT member companies, to bring to them industry thought leaders from around the world on topics of greatest importance to the pharma customer–supplier relationship. The webinar uses state-of-the-art livestream technology to enable you or your team to access these high-profile speakers from all your company’s global locations. Registration to the webinar entitles you to attend the live webinar on July 18th or to access the archived webinar for on-demand viewing, making it a convenient and time-effective way to gain valuable insights.

Information about the webinar, including how to register, may be found here.