In a negotiation, do not agree when it would not be wise to do so. However, also do not walk away from a mutually beneficial outcome. The āAgreement Trapā is the tendency to agree to a deal that is inferior to other available options.Ā We sometimes buy from a store even though a significantly better […]
Master your work setting.Ā Strengthen and relish business and personal relationships.Ā Generate higher income and accumulate wealth.Ā Reduce conflict at work and at home. That person who is driving everyone nuts at your workplace, Ā belligerent, bitter, and defiant…you know precisely how to deal with the person. Not only can you successfully deflect the attacks on you, but you […]
Observe, and you will discover that the Life is a negotiation. You negotiate with your family members, your colleagues, your suppliers, your customers, even your business competitors, the list goes on. If you have attended two days workshop or read my book, you probably have many of the tools you need to negotiate effectively. Just […]
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 […]