In a world where effective negotiation is a key differentiator, our students recently participated in a highly engaging two-day workshop designed to elevate their skills and confidence in any negotiation setting. Led by Tobias Frank, Sales Director DE & AT at Engelhard Arzneimittel, the workshop provided invaluable real-world perspectives and practical strategies.

Participants explored the core principles of negotiation, delving into the importance of thorough preparation, understanding the phases of a negotiation process, and recognizing the impact of both verbal and nonverbal communication. Through a series of dynamic simulations, including exercises focused on diverse scenarios such as labor negotiations, industry-specific deals (like those between pharmaceutical wholesalers and companies like Engelhard), and even the sensitive arena of employee performance reviews with a focus on salary adjustments, students had the opportunity to apply theoretical knowledge and refine their negotiation tactics. The workshop also incorporated a "Insights 4 Colors" assessment, helping participants gain a better understanding of their own motivations and stress responses, as well as those of others. This self-awareness is crucial for building rapport and achieving positive outcomes.

This immersive experience equipped students with a practical understanding of the dynamics between win-win and win-lose scenarios, the critical role of instincts and values in negotiation, and the fundamental rules that underpin successful outcomes.

The  Chair of Marketing Management extends a heartfelt thank you to Tobias Frank and Engelhard Arzneimittel for their generous contribution. Their expertise and real-world insights significantly enhanced the learning experience, ensuring that our students are better prepared to navigate the complexities of negotiation in their future careers.