Sometimes in negotiation, we are forced to deal not only with the issues on the table but also with concerns about keeping face. One famous instance took place in the late 1990s, when John K, the Asia-Pacific regional sales manager of Lucent, mistakenly agreedĀ to a sale price of the network monitoring system to a […]
An American cable TV equipment company and a Taiwanese company signed a joint-venture agreement to design and manufacture cable TV equipment for sale in ASEAN countries.Ā The American firm was supposed to supply the technology; the Taiwanese partner would build and market the products.Ā Once per quarter on average, an Australia-based American executive would visit the ventureās […]
Good old times! We could make āhand-shakeā deals. Some business people take pride in making āhand-shakeā deals. Such deals, to them, are based on the āhonorā system. Both sides are expected to honor their commitments as per the agreement. When the misunderstandings surface, they often are disappointed and surprised to learn that not all […]
Most of us do some self-promotion in our career, or even in social life. We try to help others see what we have accomplished, what more we can achieve, and what we can do for others. Often while we are self-promoting, we may also be turning other people off. One needs to be suave […]
This issue is Part III of the three-part Knowledge Letter on Creating and Claiming Value in a sustainable way. If you missed the Part I and Part II of this topic, you will find them on myĀ blog. For stronger and lasting relationships, always solve a joint problem of crafting a deal for all. An agreement […]
At the request of several participants at the two days workshop, I am writing about āCreating and Claiming Value in a Negotiation.ā This issue is Part II of the three-part series on this topic. If you missed the Part I, please visit my blog to read it. Always assess the full set of interests at […]
In an executive training workshop at a Fortune 100 company, one of the procurement executives claimed himself to be an excellent negotiator. He supported his claim by adding that due to his tough stances and tactics, close to half of his suppliers have gone out of business! I will let you decide about the efficacy […]
In most negotiations, there are four tacitly understood variables. They exist, whether one recognizes them or not. 1. Power Balance This is the ability to make the other party do things in the way you see advantageous. The two top power sources are competition and the written contract (In the case of a hotel, this […]