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jerryking : negotiations   69

Can contracts use pictures instead of words? | Financial Times
Bruce Love OCTOBER 22 2019

* David Sibbet in "Visual Meeting"
* Dan Roam in "Blah Blah Blah: What To Do When Words Don’t Work" 
Both writers advocate the use of graphics and charts to better communicate ideas between people.

Visuals and plain language make an adversarial process more constructive.

Every contract the company writes represents a business relationship that a company would prefer to see fulfilled mutually.....unwieldy contracts stand in the way of harmony.....you spend  so much time building customer relationships that you don’t want a contractual negotiation to then dismantle that relationship brick by brick.....redraft contracts using as much plain English as possible......Making contracts more faithful to the relationships they represent is a popular goal with commercial contracts.....businesses should write contracts that specify mutual goals and governance structures to keep the parties’ expectations and interests aligned over the long term........especially for “highly complex relationships in which it is impossible to predict every ‘what if ’ scenario”.....a curious innovation gathering steam in the legal world: visual contracts that incorporate images alongside or even replace text. The underlying idea is that a picture paints a thousand words.....visual contracts can be used for simple and complex agreements.....there are growing libraries of contract terms that can be assembled as modules to build complete agreements. The goal is to provide businesses with best practice examples of the most frequent and least divergent contract clauses.....While there are many benefits to visual contracts, “simple is difficult”..... It is counterproductive for negotiators to codify every minute detail of a relationship when instead much can be ascribed to a spirit of agreement, more similar to a constitution or code of ethics.
aligned_interests  books  charts  Communicating_&_Connecting  comprehension  contingencies  contracts  deal-making  graphics  infographics  legal  negotiations  plain_English  visualization 
november 2019 by jerryking
Hostage negotiation skills provide lessons for the boardroom
JANUARY 6, 2019 | Financial Times | Helen Warrell

A former police officer suggests using surprise to gain an advantage......she is instructing a class of young professional women on how to argue, persuade and arbitrate

She reels off the similarities. “We’re both in the situation where there’s a possibility of crisis,” Ms Williams tells us. “You need to be well-prepared, whether you’re talking to some terrorists on Iraq or going into a big meeting.” 

She adds that managing the stakeholders — such as the parents of abducted children — is sometimes harder than managing the kidnappers. “You’ve all got anxious bosses and CEOs to keep on side, which is difficult too.”...She advises preparing for salary negotiations by researching statistics, calculating averages, and making sure your pitch is evidence-based rather than impassioned......make clear this is a serious discussion, not a water-cooler conversation,”..... She advises using surprise to your advantage, effectively by springing meetings on bosses at a moment when they seem unoccupied and then asking “have I caught you in the middle of something?”. “It’s obvious when they’re not so it’s hard [for them] to pretend otherwise,”.....in response to someone deploying “hostile silence” in the face of requests for pay rises. “Don’t fill silence with nonsense, there’s a British trait of thinking every silence has to be filled,” instead, ask a direct question to force a response. “You could try, ‘what are you thinking about?’ or, ‘have I stunned you?’”.....Something that works well with alpha men is planting the seed that something you want is actually their idea: you can try saying, ‘did I hear you mention X’ or ‘have you thought about Y?’”

......tips for any important negotiation are first, identifying the people who are the “real decision makers”, then knowing what is negotiable, and preparing a second-best scenario to fall back on.
hostages  negotiations  salaries  Scotland_Yard  United_Kingdom  women  kidnappings  surprises 
january 2019 by jerryking
The harsh reality: Canada’s in a near-impossible situation on NAFTA, experts say - The Globe and Mail
BARRIE MCKENNA
PUBLISHED AUGUST 31, 2018
UPDATED 9 HOURS AG

Canadian negotiators faced a grim ultimatum this week – cave to a series of hardline U.S. demands or get hit with steep tariffs on autos that could plunge much of the country into recession....“They don’t believe you can do an agreement where both sides win,” says John Manley, a former trade and finance minister who now heads the Business Council of Canada, which speaks for 150 of the country’s largest companies. “Everything is ‘what I get, you lose.’ That’s a pretty tough starting place.” ...In the end, Mr. Trump’s erratic nature, not Canadian missteps, may be the x-factor that has made a deal so hard to reach......even in the toughest days of negotiating... the original Canada-U.S. FTA ...and.. NAFTA t....Mr. Mulroney knew he could trust presidents Ronald Reagan and George H. W. Bush. “You’re not dealing with a rational character at the other end,” Mr. Burney says of Mr. Trump. “The difference you had in my day is that at least the relationship at the top between the leaders was positive.” ......The U.S. President insisted in leaked off-the-record comments Thursday that he’ll only do a deal with Canada that is “totally on our terms.”..That hard line makes reaching a deal all the more difficult.​
crossborder  negotiations  Donald_Trump  NAFTA  free_trade  international_trade  protectionism  concessions 
september 2018 by jerryking
Trump’s beggar-thy-neighbour trade strategy is anything but foolish - The Globe and Mail
CHRISTIAN LEUPRECHT AND ROGER BRADBURY
CONTRIBUTED TO THE GLOBE AND MAIL.

The U.S. administration’s tariffs are actually perfectly rational – from Mr. Trump’s perspective (i.e. his worldview).

The extent of the punitive tariffs Mr. Trump is imposing is unprecedented. They threaten to bring down the system of global trade – Bretton Woods' meticulously calibrated, multilateral system of rules has 164 member-states and comprises tens of thousands of products--by design.

World Trade Organization (WTO) tribunals – which are about to grind to a halt because the United States has not named a judge to the seven-member Appellate Body – were meant to ensure that everyone sticks to the rules....
The President is now intent on destroying co-operation within the WTO by driving wedges between the world’s trading blocs and countries. The United States would be in a much stronger position if it could negotiate with each trade bloc directly. ....Mr. Trump’s recent musings about replacing NAFTA with two separate trade agreements with Canada and Mexico are further evidence to that effect. Canada risks selling out the WTO by making concessions to the United States.

China, too, is negotiating bilaterally with the United States and is already caving to American demands. In the end, the large trading blocs are likely to divide up the world among themselves; countries with little leverage, such as Canada, could become collateral damage......Where once the goal of the United States was to rise to global hegemony, today its goal is to maintain that dominance.

So, that same rules-based system is now causing competitors.... Under these conditions, it is no longer in the interest of the United States to co-operate; as the global political and economic hegemon, the United States can win a strategic competition for wealth and power. Everyone ends up poorer, but the United States remains top dog because everyone else grows poorer faster than the United States. Beggar thy neighbour. Literally.

But being frank will not sit well with Canadians; painting Mr. Trump as a crazy buffoon is more politically expedient. So, along with the EU and China, Canada falls right into Mr. Trump’s bilateral trade-negotiation trap. R.I.P. WTO. Score: Trump 1; Canada 0.
beggar-thy-neighbour  bilateral  Canada  Canadian  China  collateral_damage  crossborder  Donald_Trump  EU  international_system  international_trade  Justin_Trudeau  middle-powers  multilateralism  negotiations  punitive  rules-based  tariffs  WTO  worldviews  mercantilism  zero-sum  NAFTA  Bretton_Woods 
june 2018 by jerryking
NAFTA is dead and Canada should move on
June 2, 2018 | The Globe and Mail | by PETER DONOLO.

So what is our Plan B?

It obviously means seriously and aggressively pursuing markets and investment beyond the U.S. For example, new markets for Canadian resources are now more important than ever. That’s why the government’s decision this week to effectively nationalize the Trans Mountain Pipeline in order to finally get it built and deliver oil to Asia-bound tankers was such an important step. This decision in itself was a significant response to an unreliable American partner, and a signal that we must look farther abroad for greater economic opportunity.

The same goes for the myriad of trade agreements on which our country has embarked – most prominently the Canada-EU trade agreement and the Trans-Pacific Partnership. The GATT and WTO breakthroughs of the 1990s also work in Canada’s favour, providing us with tariffs much lower than existed before NAFTA and the original Canada-U.S. free-trade agreement. If NAFTA were to cease tomorrow, our trade with the U.S. would still operate under the WTO’s rules.

Finally, we need to redouble efforts to attract direct foreign investment into Canada. The government recently launched a new agency, Invest in Canada, to do just that. But there are obstacles. The Business Council of Canada cites the regulatory burden as the biggest challenge. In a globalized economy, tax competitiveness is always an issue. And governments need to walk the walk when it comes to opening up to investors from countries such as China, even when there is domestic political blowback.

The only negotiating stance that works against Donald Trump is the ability and willingness to walk away. Mr. Trump sniffs out weakness or desperation – in a friend or a foe – and he pounces without mercy. A defensive crouch is the wrong position. “Sauve qui peut” is the wrong rallying cry. Negotiating with strength, from strength, is the only approach.
beyondtheU.S.  automotive_industry  crossborder  Donald_Trump  FDI  global_economy  Nafta  negotiations  Plan_B  oil_industry  pipelines  protectionism  tariffs  TPP  Trans_Mountain_Pipeline  walking_away 
june 2018 by jerryking
Mulroney’s advice to Trudeau on NAFTA: head down and mouth shut - The Globe and Mail
LAURA STONE
Ottawa — The Globe and Mail
Published Friday, Jun. 16, 2017

Americans should fear Canada’s economic clout but until formal free-trade negotiations begin, “we keep our heads down and our mouths shut,” says former prime minister Brian Mulroney......When the process begins, Mr. Mulroney said one of the most important words for Canada’s negotiators is “no.”

“We’re not some pushover little country,” Mr. Mulroney said......“There’s no Conservative way to negotiate a comprehensive free-trade agreement with the United States, and there’s no Liberal way to do it. There’s only a Canadian way,” Mr. Mulroney said.

“I think there are times when political parties should lay down their arms and support a national initiative. This is one of them.”....During the American election campaign, Mr. Mulroney said both Mr. Trump and Democrat Bernie Sanders portrayed trade as hurting the U.S. economy, which created “serious problems.”

“The enemy is not trade. The enemy is technology,” he said, noting when he was in office, there were no cellphones or Internet.

“Now technology and automation are displacing jobs all over the place, and the challenge is to reconstruct the economy.”.....
closedmouth  crossborder  NAFTA  renegotiations  Brian_Mulroney  Justin_Trudeau  Donald_Trump  national_interests  advice  national_unity  say_"no"  Chrystia_Freeland  job_displacement  negotiations  economic_clout  Canada  taciturn  free-trade 
june 2017 by jerryking
Wilbur Ross brings art of restructuring to Team Trump
JANUARY 21, 2017 | FT| by: Philip Delves Broughton.

“When you start out with your adversary understanding that he or she is going to have to make concessions, that’s a pretty good background to begin.”

So all this stuff about tariffs and walls and protectionism turns out to be pure gamesmanship.......In his career as an investment banker at NM Rothschild and then running his own business, WL Ross & Co, he has shown repeatedly how he can dive into an industrial dung heap and emerge with a fistful of dollars and not a speck on his silk tie......... Working on his own account, Mr Ross’s most famous deal was his purchase of an ailing group of US steelmakers in 2002, shortly before President George W Bush imposed tariffs on imports of steel. Mr Ross used the protection to fix the operations, cut debt and draft new contracts with workers. He was able to take the company public in 2003 and sell it two years later to the Indian steel mogul Lakshmi Mittal.

He has pulled off similar tricks, mostly successfully in coal mining, textiles and banking, immersing himself again and again in new industries and the minutiae of the laws, trade rules and contracts that govern them.

As a student at Harvard Business School, Mr Ross was mentored by Georges Doriot, a pioneering advocate for venture capital, who said: “People who do well in life understand things that other people don’t understand.”
For bothering to understand things that most people don’t, Mr Ross deserves more credit than he gets. He is often easily dismissed as a vulture or someone who buys low and sells high. But what he has done is hard. The devil in restructuring is in the grinding detail of voluminous contracts and difficult, often highly emotional negotiations.
arcane_knowledge  bankruptcy  contracts  detail_oriented  dispassion  emotions  gamesmanship  Georges_Doriot  hard_work  imports  HBS  inequality_of_information  Lakshmi_Mittal  leverage  messiness  minutiae  moguls  negotiations  new_industries  Philip_Delves_Broughton  preparation  protectionism  restructurings  sophisticated  steel  tariffs  thinking_tragically  unsentimental  vulture_investing  Wilbur_Ross 
january 2017 by jerryking
U.K. Can’t Bank on EU’s Rationality in Talks - WSJ
By STEPHEN FIDLER
July 1, 2016

In a rational world, the EU would indeed react to Brexit by seeking the closest economic relationship possible with the U.K., and this may be what happens. But there are other factors suggesting this outcome shouldn’t be taken for granted.

Here are four reasons why:

Anger: The U.K. can’t draw on a wellspring of sympathy from the EU 27, and some leaders are plain angry that in their view the British government has put the EU’s future at risk to resolve a domestic political problem. “Moods are ephemeral,” said Peter Ludlow, a Brussels-based historian and analyst, before the vote. “But it will affect both the tone and the content of the earliest exchanges between the two parties.”

Mercantilism: an outdated philosophy that equates national prosperity with exports, still hold broad sway with the public and with politicians throughout Europe and farther afield. EU governments, not least in Paris, are salivating at the prospect of benefiting from the U.K.’s exclusion from the single market in services.

Asymmetry: Yes, the U.K. is important to Germany, but the EU as a whole is more important to Britain than vice versa.

Strategy: Germany and other EU governments don't want to 'reward' the UK with a special deal that tempts other countries to follow it toward exit.
Brexit  United_Kingdom  Germany  rationalism  negotiations  strategy  EU  anger  asymmetrical 
july 2016 by jerryking
Ontario paid total of $2.5-million to teachers’ unions
The Ontario government secretly paid $1-million to a second teachers’ union to buy labour peace, The Globe and Mail has learned. The province agreed to give the Ontario English Catholic…
Teachers  education  privatization  negotiations  unions 
october 2015 by jerryking
Iran Deal Players’ Report Cards - The New York Times
SEPT. 16, 2015
Advertisement

Continue reading the main story

Thomas L. Friedman
Obama  Iran  nuclear  negotiations  Tom_Friedman 
september 2015 by jerryking
How to be a Top-Gun Deal Maker | Ivey Business Journal
by: Michael Benoliel

[8 April/9 April 2017; Letter to the editor by Bruce Mathers] "It is axiomatic that negotiators who understand their opponents have a strong advantage"
Robert_Johnson  BET  dealmakers  deal-making  howto  moguls  CATV  African-Americans  entrepreneur  Viacom  Second_Acts  NBA  trailblazers  negotiations 
july 2015 by jerryking
A deal, yes, but the burden’s on Iran to come clean - The Globe and Mail
DEREK BURNEY AND FEN OSLER HAMPSON
Special to The Globe and Mail
Published Thursday, Apr. 02 2015,
CIGI  negotiations  Iran  nuclear 
april 2015 by jerryking
Your Worst Enemy in a Negotiation? Look in the Mirror. - At Work - WSJ
Jan 23, 2015 | WSJ | By LAUREN WEBER.

"our most stubborn and challenging opponent is ourselves."

the most difficult person we have to deal with is the person we look at in the mirror in the morning. It’s our innate tendency to react, which is to act without thinking, out of anger or fear, that we later come to regret. [The writer] Ambrose Bierce said, “When you’re angry, you will make the best speech you’ll ever regret.”

WSJ: Why are we so easily knocked off kilter?

Ury: Human beings are designed evolutionarily to be reaction machines. That’s built in from the time we had to react quickly if there was a big cat in the neighborhood, and that was very appropriate then. But it’s not very appropriate when you're in a Manhattan office building. I also think we’re under a lot more stress than we ever were before, and when you're more stressed, you're more reactive.

WSJ: How do you end self-sabotage?

Ury: These are things we already know, but maybe we don't practice them. For example, I talk about ‘going to the balcony,’ which I use as a metaphor for taking a timeout (jk: power of the pause).

You have to imagine that you’re negotiating on a stage and part of your mind goes to a balcony, where you look down on yourself. It gives you perspective, self-control, calm. The problem is, when the stakes are high, you're worried and you get distracted from negotiating your best..... to be more effective in stressful situations, quiet our minds and focus on what our intentions are.
WSJ: The term BATNA is crucial to your method. What is a BATNA?

Ury: Your ‘Best Alternative To a Negotiated Agreement.’ It’s your best course of action if you can’t reach agreement with the other side. So if you’re negotiating with a boss, if you don't like this job, can you get another one? If you have a serious dispute with a customer or supplier, can you take this up with a mediator or arbitrator or go to court? Every negotiation takes place within the shadow of that alternative. It’s probably the major determinant of leverage or power.

And yet what I find is we just focus on getting the agreement and we become so dependent on it that we’re give up anything to get it. So a BATNA gives you a sense of freedom, knowing you can walk away.

For this book, the focus is on getting to the inner BATNA, a commitment to ourselves and our basic needs. If you can do that, you can negotiate from a place of inner strength, inner confidence.
BATNA  Communicating_&_Connecting  decision_making  emotional_mastery  inner_strengths  negotiations  power_of_the_pause  self-improvement  self-sabotage  stressful  timeouts  walking_away 
january 2015 by jerryking
Hockey Night in Canada: How CBC lost it all - The Globe and Mail
DAVID SHOALTS
TORONTO — The Globe and Mail
Published Friday, Oct. 10 2014
CBC  NHL  hockey  negotiations 
october 2014 by jerryking
Negotiating mistakes you should not make - The Globe and Mail
HARVEY SCHACHTER
Special to The Globe and Mail
Published Sunday, Oct. 05 2014,
negotiations  Harvey_Schachter  mistakes  howto 
october 2014 by jerryking
Four reasons why the Iran deal really matters - The Globe and Mail
Doug Saunders
Four reasons why the Iran deal really matters Add to ...
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The Globe and Mail

Published Monday, Nov. 25 2013,
Doug_Saunders  Iran  nuclear  negotiations 
november 2013 by jerryking
Once the Foot Is In the Door, Be Sure to Leave it Open
??| WSJ | Thomas Petzinger Jr.

Even perfect products demand salesmanship--and when bargaining gets tough, be prepared to quit the talks and walk away.
automation  B2B  bargaining  Boeing  Gulliver_strategies  large_companies  manufacturers  negotiations  reservation_prices  salesmanship  software  Thomas_Petzinger  walking_away 
february 2013 by jerryking
The Smart Way to Change Jobs
September 4, 1995 | Fortune | Marshall Loeb.

After worked out all thc details, you should seek a general letter of agreement outlining your pay, benefits, job title, and responsibilities. lt should includc a short-term fail­-safe clause to cover you if the mating doesn’t work out. Companies will often agree to give you six months’ pay in the event that you or your new boss decides that your move was a mistake. Finally leave your old employer on good terms. just possible that thc two of you will be back in bed somewhere dotlrn the line-just like in those French farces.
Managing_Your_Career  career_paths  career  reinvention  salaries  compensation  negotiations  exits  job_change  first90days 
february 2013 by jerryking
You Have to Negotiate For Everything in Life, So Get Good at It Now - WSJ.com
January 27, 1998 | WSJ |By HAL LANCASTER

What kind of negotiation is it, asks Peter J. Pestillo, executive vice president of corporate relations for Ford Motor and one of the auto industry's leading labor negotiators. If it's a one-time-only event, you can concentrate on the result, he says. But if there's an ongoing relationship involved, "victory is making both sides feel satisfied," he says. "Take only what you need and don't try to make anybody look bad."...The toughest part of negotiating, Ms. Pravda says, is listening -- really listening -- to the other side. "Most people who negotiate like to talk," she explains, but if you understand their problem, you can craft a creative solution. "It doesn't hurt to say, 'I hear your problem; I don't know yet how to get there, but let me think about it,' " she says. "You become part of their team trying to solve their problem."

In career-related negotiations, she suggests anticipating concerns and lining up allies before making your pitch. In one case, she relates, an inexperienced associate seeking a new assignment lined up a senior associate to supervise him before making the request. "So he'd already taken care of my concerns," she says. In job-related negotiations, also, you must explain not only why the request is good for you, but for the company, she says.
Hal_Lancaster  negotiations  listening  Communicating_&_Connecting  win-win  anticipating  preparation  relationships  one-time_events  empathy 
december 2012 by jerryking
How to Loosen Grip Of a Noncompete Pact After Your Breakup - WSJ.com
February 17, 1998 | WSJ | By HAL LANCASTER.

The best time to negotiate is during the courtship, "when everyone's happy and begging you to come over," Mr. Sklover says.

You might be able to shorten the duration of the agreement or the territory covered. Mr. Lasky says you can often negotiate "carve outs," or specific jobs and places for which the clause doesn't apply, should you leave the company. If you're in public relations, for example, maybe they'll allow you to do marketing communications, he says....IF YOUR noncompete is airtight, concentrate on spending your time after the breakup wisely. One possibility: interim employment in a related field.

That's what Mr. Nesh did after leaving the utility last October. He wouldn't disclose terms of his covenant, but said it contained time and geographical restrictions. While he waits for it to expire, he has registered with Imcor, which provides companies with temporary executives. He still must avoid direct competition, but if he can get an assignment or two, it will keep him close to the industry, he says.

If you've decided to quit, the focus shifts to managing your departure so that your former employers are less likely to call out the attack dogs.

"Take nothing with you other than the picture of the wife, kids and dog," Mr. Lasky advises. "Don't take the Rolodex or files. Don't come into the office at hours when no one else is there. Even if it's innocent, it will be seen as an attempt to steal business."

Also, transfer your responsibilities to others. "Don't leave things in the lurch," he says.
Hal_Lancaster  noncompete_agreements  exits  negotiations  interim  Second_Acts 
december 2012 by jerryking
When Seeking a Raise, It Pays to be Tactful
September 11, 2004 | Workopolis - Globe & Mail | by Virginia Galt.

When seeking a raise, issues like longevity, breathing, etc. don't count. Instead, demonstrate your value to the enterprise if you want to be do better than the 3.4% avg. increase that employers budget for....Employers are more than willing to top up the salaries of their top performers...the challenge for employees is to demonstrate their worth....Figure out ways of differentiating yourself, be able to create unique value in an organization...you are in charge of what people think of you.
managing_up  negotiations  compensation  salaries  performance_reviews  rewards  Virginia_Galt  self-worth 
august 2012 by jerryking
The Right Way to Ask for a Raise
January 1994 | Working Woman | Stephen M. Pollan and Mark Levine.
In today's cost-conscious environment, chances are you won’t get as big raise as you'd like. But with the right approach, you may be able to boost the one you're given, win other kinds of financial rewards or at least set the stage for a larger increase next time. Your strongest argument: that your salary has not kept pace with your accomplishments or that you are under paid relative to your peers. To better the odds of success, approach your boss only after a positive evaluation or some third-party recognition of your achievements. And don’t hesitate to use flattery.
managing_up  negotiations  compensation  salaries  performance_reviews  decision_making  decision_trees  self-worth 
august 2012 by jerryking
Getting a Better Severance Deal
November 1994 | Working Woman | BY STEPHEN M. POLLAN AND MARK LEVINE.

Severance packages are more negotiable than you may think. Treat them as preliminary offers, not done deals, and use whatever leverage you have. Do not sign a release—or even a statement that you've been terminated—at the initial meeting, when you receive the news. Insist on postponing all decisions to a subsequent meeting with both your direct supervisor and someone from personnel. Say you need the time to digest the news or even that you feel too emotional to continue. Then use this grace period to de1ermine what you really need in tenns of money and other benefits. Draft a memo outlining your dream severance package, listing a reason for each request. And if you suspect that you're being discriminated against—maybe everyone being dismissed is over 40 or female--contact the Equal Employment Opportunity Commission (800-669-4000) or a labor lawyer. When you finally go into your second meeting, try to set aside your hurt and anger. Treat this like any other business negotiation. Be firm but flexible in your requests. and know where to draw your bottom line. Keep in mind that both you and your supervisor want to wrap the matter up as quickly as possible.
litigation  negotiations  decision_making  decision_trees  exits  managing_up  severance 
august 2012 by jerryking
Even a Losing Bid Can Pay Off
November 18, 1996 |WSJ pg A12 | by Adam Brandenburger, a professor at Harvard Business School. Barry Nalebuff is a professor at Yale School of Management. They are the authors of "Co-opetition " (Currency/Doubleday, I996).

What might you have done differently? You could have bid lower. but there's no guarantee that would have worked any better. The problem with the strategy was more basic. The right question to ask is: How important is it to the customer that you bid? If your bidding is important-even if the customer is just trying to gain leverage against his current supplier—then you should get compensated for playing the game.
game_theory  pricing  questions  strategy  coopetition  Monsanto  negotiations  auctions  Adam_Brandenburger  Barry_Nalebuff 
august 2012 by jerryking
Reeling In the Big One
Aug 1, 2004 | Inc. Magazine | Jess McCuan.
large_companies  negotiations  selling 
july 2012 by jerryking
Be an Optimistic Skeptic When You're Buying a Business
Sep 1990 | Profit - Building Strategies for Business Owners | Anonymous

Even those who are experienced in acquisitions should be very careful when considering the purchase of a business. The best approach is to form a team with such professional advisers as an accountant. attorney. and appraiser. The best attitude for checking on a prospective business purchase is optimistic skepticism, which should start with an investigation of the seller's reason for selling the business An inspection of the physical plant will provide information about whether it is in need of alteration, its accessibility to public transportation, and the age of plant equipment. Prospective buyers should learn as much as they can about the company's finances, including information about recent sales and expenses. Special attention should be paid to factors that might affect future success such as key employees‘ willingness to remain on the job and customers‘ loyalty to the firm. The attorney and accountant will probe further for details so that a contract can be signed with confidence.
buying_a_business  entrepreneurship  lawyers  negotiations  mergers_&_acquisitions  skepticism  due_diligence 
june 2012 by jerryking
What Went Wrong
June 2007 | WSJ | By Dennis Ross. Statecraft is essentially
matching objectives (or purpose) and means. Start with assessments that are grounded in reality, and not in wishful thinking. Don't shape policy on erroneous assessments. Statecraft is often about working to transform current realities so what is not possible today becomes possible over time. Before you can change an unacceptable reality, understand what it is in the first place...When negotiating or serving as a peace keeper, it is imperative to know the power limitations of
the parties you are assisting. Good statecraft means testing the parties on their individual willingess to compromise on issues BEFORE trying to resolve them. E.g. announce that neither side will get 100% of what they want. Such an announcement not only conditions the publics, it also prepares leaders for what would be required of them: an ability to withstand withering criticism. Such ability is a measure of seriousness in tackling core issues.

If one party is unwilling or unable to take such step, then you need to adjust your objectives. Create conditions that you want (e.g. peace-making) so that they might take hold after one of the weak decision makers leaves the scene.
Dennis_Ross  statecraft  compromise  preparation  seriousness  leaders  public_opinion  negotiations  wishful_thinking  assessments_&_evaluations  policymaking 
may 2011 by jerryking
How to Master the Art of Negotiating Price - WSJ.com
MARCH 22, 2011, By MIKE MICHALOWICZ. At what point in a
negotiation do you show your hand? Most people believe if they know what
their prospective client is thinking it will give them an advantage. So
they wait to quote a price. They do their homework. They look for
clues. Sometimes they just come right out and ask: "What's your budget?
Are you looking for great quality, a fast turnaround, or do you plan to
go with the cheapest option? What number are you thinking of?" Big
mistake.
If you want to come out on top, use this simple shortcut: Be first. No
dancing around the issue. No hemming and hawing. Just give them a number
right off the bat. In doing so, you'll set the starting point for the
discussion, from which all further discussions will stem (jk: anchoring)
anchoring  goal-setting  howto  negotiations  pricing  running_a_business  think_threes 
march 2011 by jerryking
DeMaurice Smith Takes On the N.F.L. Owners - NYTimes.com
By SRIDHAR PAPPU
January 22, 2011

As a corporate lawyer at Patton Boggs, the high-powered Washington firm,
Mr. Smith dealt with companies that were either “in crisis or were
about to be.” As a candidate for the N.F.L.P.A. job, he composed what he
called “Playbook: An Enterprise Philosophy to Maximize the Business and
Political Interest of the N.F.L.P.A.” “About 60 percent of it,” he
said, “was envisioning what the chances were of a lockout and what to do
to prepare for it.”

It was a useful exercise. “The only bad thing is that everything we
thought and contemplated the league would do they’ve done,” Mr. Smith
said.
anticipating  creating_valuable_content  crisis_management  enterprise_clients  event-driven  labour  lawyers  negotiations  NFL  playbooks  preparation  sports  troubleshooting  turnarounds  unions 
january 2011 by jerryking
"The Best Advice I Ever Got" - March 21, 2005
March 21, 2005 | Fortune Magazine | By INTERVIEWERS Julia Boorstin.

Brian Grazer
"My whole career has been built on one piece of advice that came from two people: [MCA founder] Jules Stein and [former MCA chairman] Lew Wasserman. In 1975 I was a law clerk at Warner Bros. I'd spent about a year trying to get a meeting with these two men. Finally they let me in to see them. They both said, separately, 'In order for you to be in the entertainment business, you have to have leverage. Since you have none--no money, no pedigree, no valuable relationships--you must have creative leverage. That exists only in your mind. So you need to write--put what's in your mind on paper. Then you'll own a piece of paper. That's leverage.'

"With that advice, I wrote the story that became Splash, which was a fantasy that I had about meeting a mermaid. For years, I sent registered letters to myself--movie concepts and other ideas--so that I had my ideas officially on paper. I have about 1,000 letters in a vault. To this day, I feel that my real power is only that--ideas and the confidence to write them down."
advice  career  inspiration  entrepreneur  Managing_Your_Career  Clayton_Christensen  humility  MBAs  Siemens  Salesforce  Mickey_Drexler  JetBlue  Peter_Drucker  Jim_Collins  Rick_Warren  leverage  Xerox  Andy_Grove  conventional_wisdom  Richard_Parsons  negotiations  Jack_Welch  Vivek_Paul  thinking  Starbucks  Warren_Bennis  Richard_Branson  Warren_Buffett  Brian_Grazer  creating_valuable_content  Lew_Wasserman 
december 2010 by jerryking
How to Bargain at Markets - NYTimes.com
October 14, 2010, 3:10 pm
How to Bargain at Markets
By JENNIFER SARANOW SCHULTZ
bargaining  negotiations  howto 
october 2010 by jerryking
Level the Playing Field - Entrepreneur.com
June 2009 | Entrepreneur Magazine | By Romanus Wolter. Make
sure people in positions of power value your experience and judgment.
negotiations  asymmetrical  tips 
february 2010 by jerryking
When No Means No - WSJ.com
NOVEMBER 4, 2009 | Wall Street Journal | op-ed by Bret Stephens on Iranian intransigence.
Iran  Obama  nuclear  negotiations  diplomacy  Bret_Stephens 
november 2009 by jerryking
Seth's Blog: Understanding business development
September 21, 2009 | Posted by Seth Godin.

Here are some tactical tips on how to do business development better:

Process first, ideas second.
Who decides?
Courtship, negotiation and marriage.
Buyer and seller.
Enthusiasm is underrated.
Close the open door.
Call the lawyers later.
Cast a wider net
Talk to the receptionist.
Hire better.
Structure deals with the expectation of success.
End well.
business_development  Seth_Godin  negotiations 
october 2009 by jerryking
Canada, a nation given to fanciful flights from reality - The Globe and Mail
May. 25, 2009 | Globe and Mail | Daniel F. Muzyka. Lays out
his "realities" for dealing with Canada's political-economic challenges.
(1) Business creates wealth, government redistributes it. (2) Markets are a powerful force. (3) Capital moves. (4) Risk has two sides. humans have all kinds of decision biases around risk. We need to recognize that there may be a "risk/return" relationship in that the average expectation is to realize a certain return given a level of riskiness in our investments. However, there are no guarantees. (5) Structural problems are just
that. If we don't deal with problems because they just aren't painful enough in better times, they will come back to haunt us in the next downturn - only worse. (6) Externalities come back to haunt. (7) Subsidies are bad and
become addictive. (8) Bailouts are no free lunch. (9) It is what you negotiate and what you are worth. Add enough value to justify your wage rates (10) Value added and productivity are the keys to success....Create more value than others and do it more productively...govts. that provide social, health and educational services should be asking questions about how productive their service delivery is, not just how much they are investing in it. (11) Innovate or wither. Propping up what exists - or worse, what existed - for the sake of maintaining the status quo, especially with subsidies, is a road to defeat....focus on research and innovation,
bailouts  Canada  Canadians  capital_flows  delusions  Daniel_Muzyka  externalities  hard_truths  innovation  interconnections  negotiations  productivity  realities  regulations  risks  rules_of_the_game  self-worth  subsidies  value_added  wishful_thinking 
may 2009 by jerryking
A Terrorist Defeat - WSJ.com
MAY 20, 2009 | Wall Street Journal | Editorial. After negotiation failed, Sri Lanka pursued a military solution.
Tamil_Tigers  Sri_Lanka  negotiations  editorials 
may 2009 by jerryking
Principles matter - negotiation strategies for entrepreneurs
July 4, 2003 | First published in the Globe and Mail | By BRIAN
BABCOCK Responding to a bully tactic on pricing. Prepare your brief,
then review your brief, and prepare it again. Have I prepared, revised,
and prepared again? Do I know all I can know about my market and my
competitors? Do I have a plan for negotiations? Have I judiciously
communicated my interests to the other people at the table? Do I
understand their interests? Do I know what I'll do if negotiations
fail? What's my best alternative to agreement? How can I change the
paradigm? Is my interest to expand the possibility of mutual gains? Am I
positional bargaining or interest-based negotiating? Do I remain
principled in the face of brinksmanship? Have I separated my emotions
from the bargaining process? Can I identify when my energy is wasted on
emotional "nonsense" and blame? Will the agreement create lasting
relationships of respect and trust? If not, how do I create those
critical and strategic positions?
asymmetrical  bargaining  BATNA  blaming_fingerpointing  Brian_Babcock  brinksmanship  bullying  emotional_mastery  emotions  mentoring  negotiations  preparation  pricing  respect  trustworthiness 
march 2009 by jerryking
What do you expect to be paid?
02-29-2008 G&M article by Tony Martin illustrating how to make sense of the query.
Managing_Your_Career  expectations  salaries  negotiations  compensation  self-worth 
january 2009 by jerryking

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