Concession, compromise, agreement

 If there’s going to be any agreement, it’s necessary for one of us to make a

concession.

 The only way to reach a compromise is to make a concession.

 The negotiation was finally successful when the other party backed down and

compromised on a key issue.

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BEP 402 – Negotiation Strategy (Part 2)

Parties and decision makers

 It’s not always obvious at first glance who the decision makers are.

 Often, there are more than just two parties to a negotiation – deals may be

complex, and we must also consider government or shareholder involvement.

 It’s important to recognize the real parties to the negotiation and identify the

key decision makers.

Interests: Where someone is coming from

 I don’t think I really understand where he’s coming from on this issue.

 We asked them about their motives for the merger to get a feeling for where

they were coming from.

 It’s not at all clear to me where she is coming from.

Synergy

 After many mergers, the promised synergies fail to materialize, often

because of cultural and management differences.

 A lot of what we are doing in negotiation is looking for synergies between our

companies.

 Identifying synergy effects requires creative thinking.

To think outside the box

 I particularly admire his ability to think outside the box – he’s very original.

 In many tough negotiations, it can really help if there is someone on both

sides who can think outside the box.

 Often, finding and creating value requires thinking outside the box.

Overcoming blockage: Removing barriers, obstacles and impediments

 It was a real challenge to remove the barriers that had been set up, but in

the end we succeeded.

 Overcoming blockage is a process of getting rid of obstacles in the road to an

agreement.

 A typical impediment to compromise is an overemphasis on price.

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