Only a few days remain to register for the popular Negotiations Case Competition and management professor Nora Madjar expects this year’s event, like years past, will draw some of the brightest MBA and law students at UConn.
“This competition attracts some of our brightest and allows them to shine while developing their skills furthers,” said Madjar, who is organizing the 7th annual event with law professor Jessica Rubin. The competition pairs UConn Law and UConn MBA students to demonstrate their negotiation skills.
The initial competition takes place on Friday and Saturday (Jan. 21 and 22) and will be conducted virtually. If a team moves on to the international competition, as several teams have in the past, the event is slated for late April in Athens, Greece.
“What appeals to our students is the opportunity to work on a team and employ everyone’s unique skills to successfully negotiate a result,” Madjar said. “Our graduate students learn to think on their feet, cooperate with each other, and compete against other teams. They also benefit from feedback from alumni about how to improve their skills. In the past, some of our students have received job interviews as a result of their performance.”
A strong candidate for the competition is someone open to tackling problems and solving them in creative ways, she said. “I think the business students who are able to integrate strategies and financial knowledge with soft skills like persuasion, influence and solution do particularly well,” she said.
In business today, the ability to negotiate is paramount and successful managers find that the ability to negotiate with suppliers, customers and other constituents is invaluable, Madjar said.
“The best way to develop those skills is to practice them and this competition provides a wonderful way to do that,” she said. If a team is chosen to compete in the international case challenge, they will pit their wits against students from Germany, Greece, Australia, South America and Mexico.
Last year, MBA student Nishant Jain and his team won first-place in the competition.
“The ability to negotiate is a necessary skillset for any professional, and to be able to develop and refine this skill was a fantastic opportunity,” said Jain, whose teammates were law students Magdalena Klin and Jacqueline Cushing.
“For me, the one important takeaway from this competition was the importance of preparation before negotiation. A good preparation means half the job is already done, and I can say with confidence that we were the better-prepared team,” he said. “I learned about when to walk away from the table or how to stand my ground, both equally important when negotiating. It was an amazing experience.”
Deadline to apply for the competition is Tuesday, Jan. 18 5pm. To participate, please register at: https://www.eventbrite.com/e/2022-uconn-business-law-negotiation-competition-tickets-209436318667