value

Economic or noneconomic aspects of the process or outcome of a negotiation about which one or more parties care strongly. Value could mean cash, property, relationships, reputation, fairness, or a partyÕs self-image. (David A. Lax and James K. Sebenius, 3-D Negotiation [Harvard Business School Press, 2006], 17)

The following items are tagged value.

How Much Exclusivity is Enough?

Posted by & filed under Business Negotiations.

On February 14, 2005, telecommunications giant Verizon announced that it would buy MCI for $6.75 billion in cash and Verizon stock. The announcement followed closely on the heels of two other announcements of big telecom mergers: first Sprint and Nextel, then AT&T and SBC Communications. In light of this rapid industry consolidation, only one player would be stranded without a partner: tiny Qwest Communications, whose market capitalization was less than one-fifth that of any of its soon-to-be-merged competitors.

Negotiating the Fiscal Crisis

Posted by & filed under Negotiation Skills.

How can we avert a full-throttle drive over the fiscal cliff? Despite some promising signs of movement on both sides of the aisle, the current negotiation approach – positional bargaining – is bound to bring us dangerously close to the edge.

Are You an Overconfident Negotiator?

Posted by & filed under Business Negotiations.

In 1901, J.P. Morgan wanted to buy the Carnegie Steel Company from its founder, Andrew Carnegie.

Carnegie was 65 years old and considering retirement. As Harold C. Livesay recounts in his book Andrew Carnegie and the Rise of Big Business (Little, Brown, 1975), when Carnegie finally decided he was ready to sell, he jotted down his estimate of his company’s worth in pencil: $480 million. Carnegie had the sheet of paper delivered to Morgan, who took one look and said, “I accept this price.”

Role-Play Simulations and Managing Climate Change Risks

Posted by & filed under Pedagogy at the Program on Negotiation (Pedagogy @ PON).

Climate change risks are an increasingly important consideration in many decisions with long-term implications, such as choices around economic development and infrastructure investment. It does not make sense to invest in projects that will be destroyed by sea-level rise or undermined by sustained drought. The enormous uncertainty associated with climate change makes it difficult, however, for decision-makers to plan ahead. This is particularly true in developing countries, where pressing needs like poverty reduction often trump long-term considerations about sustainability.

There is No ‘I’ in Team, Only in Organizations

Posted by & filed under Negotiation Skills.

The old saying goes, “there is no ‘I’ in team,” but recent research by Program on Negotiation faculty member and Harvard Business School Associate Professor Francesca Gino and others suggests that an organization should pay attention to the various individuals it recruits, and by doing so it can improve employee retention and productivity.