2013 witnessed a series of colorful mergers, acquisitions, and other deals. Here are 10 negotiations and negotiation trends from which business dealmakers can learn.
Firm reliance on the integrity, ability, or character of a person or thing.
The following items are tagged Trust.
A number of noteworthy disputes among businesses, organizations, and individuals made headlines in 2013. We point out the negotiation angles behind stories first reported by the New York Times, the Wall Street Journal, and other media outlets. Keep an eye out for these common themes: hardball tactics that backfire, costly legal battles that could have been avoided, and disputes over poorly worded contracts.
On October 1, 2013, nearly 300 Jewish and Arab students from twelve Israeli high schools convened for a conference on negotiation, co-sponsored by the Program on Negotiation. Having learned core negotiation methodology and acquiring concrete tools and skills previously, these students were offered a special opportunity to learn directly from skilled negotiation practitioners in various
In his best-selling novel Blink, Malcolm Gladwell scans the psychological literature and uncovers fascinating nuggets of knowledge.
He describes people who can assess the integrity of a work of art within seconds, predict the likelihood that a couple will get divorced based on a short conversation, and assess their romantic interest in another on a “speed date.”
Documenting numerous stories in which split-second decisions, or “blinks,” led to successful outcomes, led to successful outcomes, Gladwell concludes that rapid cognitions can be as effective as more deliberate and thoughtfully made decisions.
Some might argue that confrontation is inevitable. But a wide range of collaborative efforts around the country have shown that it can be avoided.
How can negotiators find their way into the trading zone quickly and easily?
One proven method is joint fact finding.
Joint fact finding is a multistep, collaborative process for bringing together negotiating partners with different interests, values, and perspectives. Here are the five stages through which joint fact finding typically proceeds.
A Q&A with Michael Wheeler, author of The Art of Negotiation: How to Improvise Agreement in a Chaotic World.
We recently interviewed Michael Wheeler, HBS Professor and PON faculty member, about his critically acclaimed new book, The Art of Negotiation: How to Improvise Agreement in a Chaotic World. In his latest offering, Wheeler introduces his powerful, next-generation approach to negotiation that takes into account the dynamic, and often uncertain, nature of negotiations.
When choosing a mediator, keep in mind that you need not accept the proposals that he makes. In other words, you have total power to prevent mediation from leading to undesirable outcome. As a result, the only risk of mediation is that you will spend time and money without reaching agreement. Indeed, one Fortune 100 company that is so firmly convinced of the value of mediation that, as long as the other party seems to genuinely want a good-faith resolution, it will get a list of experienced mediators from a reputable and neutral mediation agency and let the other side select anyone on the list.
When two people share the same motive, they fall prey to the same flaws and reinforce each other’s failings. Consider a labor negotiation in which the chief management negotiator withholds information about revenue projections, while the labor leader holds back details about workforce sentiment. Impasse is the predictable result. When you’re negotiating with a fellow individualist or a fellow cooperator, your goal should be to overcome the inherent flaws of your orientation.
At last, the deal is done. After 18 months of negotiation, eight trips across the country, and countless meetings, you’ve finally signed a contract creating a joint venture with a Silicon Valley firm to manufacture imaging devices using your technology and their engineering.
The contract is clear and precise. It covers all the contingencies and has strong enforcement mechanisms. You’ve given your company a solid foundation for a profitable new business. As you file the contract, a question dawns on you: Now what?