The document summarizes key points from a negotiation workshop. It discusses position-based versus principle-based negotiation. Position-based negotiation involves locking into positions and damages relationships, while principle-based negotiation separates people from problems, focuses on interests not positions, invents options for mutual gain, and uses objective criteria. The workshop agenda covers these negotiation approaches and tactics for single and multiple issue negotiations like determining BATNA, assessing interests, and sequencing concessions.

1. Negotiation Workshop Steven A. Gedeon, PhD, MBA, PEng [email_address]

2. 18 Core CEO Competencies Personal Leadership Goal-Setting & Time Management Creative & Critical Thinking Stress Mgt & Work-Life Balance Corporate Leadership Strategy & Business Planning Innovation & Value Creation Corporate Governance Communication Skills Persuasive Writing and Presenting Networking Skills Negotiating Skills Team Building Skills Interpersonal Skills Motivational Skills Conflict Resolution Skills Operational Skills IT & Management Systems Human Resources IP and Asset Management Functional Skills Sales & Marketing Finance and Raising Money Legal

3. Negotiation Workshop

4. Today’s Agenda Position Based Negotiation Principle Based Negotiation Basic Strategy Single-Issue Example Tactics Multiple-Issue Example

5. Position Based Negotiation “ Hard” vs. “Soft” Tendency to Lock into a Position The more you try to convince the other side of your position, the harder it is to change it Ego becomes identified with the position Tactics make Negotiation Take Longer Win-Lose Damages the Relationship Poor Outcomes (Lose-Lose)

6. Principle Based Negotiation Separate the People from the Problem Focus on Interests, Not Positions Invent Options for Mutual Gain Insist on Using Objective Criteria Based on “Getting to Yes” Fisher & Ury

7. Separate the People from the Problem Negotiators are People First Negotiators’ Interest in both Substance and Relationship Separate Relationship From Substance Perception Emotion Communication

8. Focus on Interests, Not Positions Two Sisters and the Orange Ask “Why?” Put the Problem before your Answer Be Hard on the Problem and Soft on the People

9. Invent Options for Mutual Gain Diagnosis Premature Judgment Searching for a Single Answer Assuming a Fixed Pie Solving Their Problem is Their Problem Prescription Separate Brainstorming from Judging Broaden the Number of Options Search for Mutual Gain

10. Insist on Using Objective Criteria Fair Standards Fair Procedures I Divide You Decide Last Best Offer Agree on Principles

11. Basic Strategy Create Gains (Assess Range) then Capture Gains

12. Basic Analysis Determine Your BATNA (Best Alternative to a Negotiated Agreement – your “Walk Away” Position) Determine Their BATNA Assess the True Issues in the Negotiation Determine Important Issues to You Determine Important Issues to Them

13. Single-Issue Workshop Steven A. Gedeon , PhD, MBA, PEng [email_address] Acquisition Price Acquisition Agreement

14. Strategy Determine the Bargaining Zone Seek to Determine Your Opponent’s Price but Conceal Your Price Capture Gains Drop the Anchor if you “know” their Price Get them to Drop the Anchor if you Don’t “know” their Price Protect the Relationship

15. Tactics Always be Reluctant, Never Enthusiastic Flinch, Show Disbelief Always Ask for More than you Expect Never Accept the First Offer Importance of Time Importance of Anchors Sunk Costs, Escalation Critical Role of Information Don’t Proceed Issue-by-Issue Be Predictable, Explicit, Never Lie

16. Tactics The Power of Silence Let Your Minions Negotiate, then Push for Later Concessions Advance your Interests Outside of Negotiation Sometimes you Need to Walk Away Firm on Interests, Flexible on Position

17. Getting Information Trial Balloons Ask Questions Give Info to Get Info Put out Tentative Offers or Multiple Offers Powerful Technique Post Settlement Settlement

18. Multiple-Issue Workshop Steven A. Gedeon , PhD, MBA, PEng [email_address] Investment Term Sheet