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Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
Negotiation for Mutual Gain
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Negotiation for Mutual Gain

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  • 1. Negotiation Workshop Steven A. Gedeon, PhD, MBA, PEng [email_address]
  • 2. 18 Core CEO Competencies <ul><li>Personal Leadership </li></ul><ul><ul><li>Goal-Setting &amp; Time Management </li></ul></ul><ul><ul><li>Creative &amp; Critical Thinking </li></ul></ul><ul><ul><li>Stress Mgt &amp; Work-Life Balance </li></ul></ul><ul><li>Corporate Leadership </li></ul><ul><ul><li>Strategy &amp; Business Planning </li></ul></ul><ul><ul><li>Innovation &amp; Value Creation </li></ul></ul><ul><ul><li>Corporate Governance </li></ul></ul><ul><li>Communication Skills </li></ul><ul><ul><li>Persuasive Writing and Presenting </li></ul></ul><ul><ul><li>Networking Skills </li></ul></ul><ul><ul><li>Negotiating Skills </li></ul></ul><ul><li>Team Building Skills </li></ul><ul><ul><li>Interpersonal Skills </li></ul></ul><ul><ul><li>Motivational Skills </li></ul></ul><ul><ul><li>Conflict Resolution Skills </li></ul></ul><ul><li>Operational Skills </li></ul><ul><ul><li>IT &amp; Management Systems </li></ul></ul><ul><ul><li>Human Resources </li></ul></ul><ul><ul><li>IP and Asset Management </li></ul></ul><ul><li>Functional Skills </li></ul><ul><ul><li>Sales &amp; Marketing </li></ul></ul><ul><ul><li>Finance and Raising Money </li></ul></ul><ul><ul><li>Legal </li></ul></ul>
  • 3. Negotiation Workshop                                                                                        
  • 4. Today’s Agenda <ul><li>Position Based Negotiation </li></ul><ul><li>Principle Based Negotiation </li></ul><ul><li>Basic Strategy </li></ul><ul><li>Single-Issue Example </li></ul><ul><li>Tactics </li></ul><ul><li>Multiple-Issue Example </li></ul>
  • 5. Position Based Negotiation <ul><li>“ Hard” vs. “Soft” </li></ul><ul><li>Tendency to Lock into a Position </li></ul><ul><ul><li>The more you try to convince the other side of your position, the harder it is to change it </li></ul></ul><ul><ul><li>Ego becomes identified with the position </li></ul></ul><ul><li>Tactics make Negotiation Take Longer </li></ul><ul><li>Win-Lose Damages the Relationship </li></ul><ul><li>Poor Outcomes (Lose-Lose) </li></ul>
  • 6. Principle Based Negotiation <ul><li>Separate the People from the Problem </li></ul><ul><li>Focus on Interests, Not Positions </li></ul><ul><li>Invent Options for Mutual Gain </li></ul><ul><li>Insist on Using Objective Criteria </li></ul>Based on “Getting to Yes” Fisher &amp; Ury
  • 7. Separate the People from the Problem <ul><li>Negotiators are People First </li></ul><ul><li>Negotiators’ Interest in both Substance and Relationship </li></ul><ul><li>Separate Relationship From Substance </li></ul><ul><ul><li>Perception </li></ul></ul><ul><ul><li>Emotion </li></ul></ul><ul><ul><li>Communication </li></ul></ul>
  • 8. Focus on Interests, Not Positions <ul><li>Two Sisters and the Orange </li></ul><ul><li>Ask “Why?” </li></ul><ul><li>Put the Problem before your Answer </li></ul><ul><li>Be Hard on the Problem and Soft on the People </li></ul>
  • 9. Invent Options for Mutual Gain <ul><li>Diagnosis </li></ul><ul><ul><li>Premature Judgment </li></ul></ul><ul><ul><li>Searching for a Single Answer </li></ul></ul><ul><ul><li>Assuming a Fixed Pie </li></ul></ul><ul><ul><li>Solving Their Problem is Their Problem </li></ul></ul><ul><li>Prescription </li></ul><ul><ul><li>Separate Brainstorming from Judging </li></ul></ul><ul><ul><li>Broaden the Number of Options </li></ul></ul><ul><ul><li>Search for Mutual Gain </li></ul></ul>
  • 10. Insist on Using Objective Criteria <ul><li>Fair Standards </li></ul><ul><li>Fair Procedures </li></ul><ul><ul><li>I Divide You Decide </li></ul></ul><ul><ul><li>Last Best Offer </li></ul></ul><ul><li>Agree on Principles </li></ul>
  • 11. Basic Strategy <ul><li>Create Gains (Assess Range) then Capture Gains </li></ul>
  • 12. Basic Analysis <ul><li>Determine Your BATNA (Best Alternative to a Negotiated Agreement – your “Walk Away” Position) </li></ul><ul><li>Determine Their BATNA </li></ul><ul><li>Assess the True Issues in the Negotiation </li></ul><ul><li>Determine Important Issues to You </li></ul><ul><li>Determine Important Issues to Them </li></ul>
  • 13. Single-Issue Workshop Steven A. Gedeon , PhD, MBA, PEng [email_address] Acquisition Price Acquisition Agreement
  • 14. Strategy <ul><li>Determine the Bargaining Zone </li></ul><ul><ul><li>Seek to Determine Your Opponent’s Price but Conceal Your Price </li></ul></ul><ul><li>Capture Gains </li></ul><ul><ul><li>Drop the Anchor if you “know” their Price </li></ul></ul><ul><ul><li>Get them to Drop the Anchor if you Don’t “know” their Price </li></ul></ul><ul><li>Protect the Relationship </li></ul>
  • 15. Tactics <ul><li>Always be Reluctant, Never Enthusiastic </li></ul><ul><li>Flinch, Show Disbelief </li></ul><ul><li>Always Ask for More than you Expect </li></ul><ul><li>Never Accept the First Offer </li></ul><ul><li>Importance of Time </li></ul><ul><li>Importance of Anchors </li></ul><ul><li>Sunk Costs, Escalation </li></ul><ul><li>Critical Role of Information </li></ul><ul><li>Don’t Proceed Issue-by-Issue </li></ul><ul><li>Be Predictable, Explicit, Never Lie </li></ul>
  • 16. Tactics <ul><li>The Power of Silence </li></ul><ul><li>Let Your Minions Negotiate, then Push for Later Concessions </li></ul><ul><li>Advance your Interests Outside of Negotiation </li></ul><ul><li>Sometimes you Need to Walk Away </li></ul><ul><li>Firm on Interests, Flexible on Position </li></ul>
  • 17. Getting Information <ul><li>Trial Balloons </li></ul><ul><li>Ask Questions </li></ul><ul><li>Give Info to Get Info </li></ul><ul><li>Put out Tentative Offers or Multiple Offers </li></ul><ul><li>Powerful Technique </li></ul><ul><ul><li>Post Settlement Settlement </li></ul></ul>
  • 18. Multiple-Issue Workshop Steven A. Gedeon , PhD, MBA, PEng [email_address] Investment Term Sheet

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