The following items are tagged share.
Placing Trust in Others
When it comes to trusting others, negotiators often rely on their gut instincts.
Recent studies indicate, however, that extraneous factors can sway such judgments.
For example, Michael Kosfeld and other University of Zurich researchers introduced a twist in a classic trust game in which subjects must decide on how much money to invest when there’s no guarantee that the party playing the “trustee” will return the investment or share the gains.
In late 1999, with its stock in free fall, NCS HealthCare, a provider of pharmacy services to long-term care facilities, began “exploring strategic alternatives” – code in the mergers and acquisitions world that NCS’s board wanted to put the company up for sale.
In 2001, Omnicare, a larger provider in the same general industry, offered to buy NCS for $270 million, a number lower than the value of the company’s debt. The deal would have left the company’s stockholders with nothing, and talks broke down when NCS demanded a higher price. In June 2002, Omnicare’s fierce rival Genesis HealthCare came to the table with an offer for NCS. Fearful of having its deal stolen away by Omnicare, which had just beaten Genesis in a bidding contest for another company, Genesis proposed a condition on the deal. It would make an offer only if NCS’s chairman and president, who together held a majority of the voting shares, committed to the Genesis deal and rejected any competing offer from Omnicare. NCS accepted this condition, and the merger was announced on July 28, 2002.
In 1986, the investment bank Goldman Sachs was a $38 billion business owned by more than 100 active and retired partners.
While the partnership structure had insulated the company from the vicissitudes of the stock market and given the company a strong culture of teamwork, it had some significant disadvantages, particularly an unstable capital base and an inability to grow by making acquisitions with stock.
Imagine that you’re the CEO of a sports clothing manufacturer based in Chicago. You recently traveled to Amsterdam, the Netherlands, to meet with a distributor who has a rich and diverse network in the European sports market.
During the business trip, you both express enthusiasm about the possibility of a joint venture and agree to give the potential alliance more thought.
Back home, you learn that one of your competitors has discussed similar plans with the same distributor.
How can you uncover additional value, make useful trades, and put together a package that exceeds your party’s expectations? Here are four value-creating moves that all negotiators should add to their toolkit.
Here’s a recap of some of the most interesting and challenging negotiations of 2012.
Online learning is going through a renaissance. The Khan Academy is reaching millions with its decidedly low-tech approach while MIT and Harvard announced a very ambitious platform called edX just this month.[1] Proponents think we can learn from the less successful efforts of the 1990s and get it right this time. On April 17th, a group of PON faculty and educators gathered to share their experiences and perspectives on what works well online, where we are falling short and what the future of online learning might look like when it comes to teaching negotiation. The panelists for the event were Lori Abrams, developer of an online-based Negotiation Strategies course at the University of Minnesota Carlson School of Management, Peter McAteer, CEO of Corporate University Xchange (CorpU) and David Fairman, Managing Director of the Consensus Building Institute (CBI). The session was facilitated by Professor Lawrence Susskind from MIT.
Great Negotiator Award winner and former United States trade representative (1997-2001) to Japan and China, Ambassador Charlene Barshefsky visited Harvard Law School to speak with students in HLS Clinical Professor Robert Bordone’s Advanced Negotiations Workshop course on October 3.
Zero-sum thinking emerges when people conceive of water as a fixed resource – one provided by nature in a given quantity that is either static or diminishing. Based on these assumptions, diplomats often focus on what share of the existing water will be given to each entity. Negotiations of this type typically involve decision makers who are political leaders focused on preserving sovereignty and maintaining state security. They are often unprepared to think about improving the overall efficiency of water use, which, in effect, can “create” more water.
Negotiators often choose to resolve their conflicts through mediation, arbitration, and other alternative dispute resolution methods because of the privacy these methods promise. Unlike the public nature of litigation, mediation and arbitration typically give parties the freedom to hash out sensitive issues without the fear that their discussions and agreement will become public knowledge. Two new cases in the news, however, show that privacy is a nuanced issue in some alternative dispute resolution contexts.
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