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    SMARTnership: The Third Road - Optimizing Negotiation Outcomes
    SMARTnership: The Third Road - Optimizing Negotiation Outcomes
    SMARTnership: The Third Road - Optimizing Negotiation Outcomes
    Ebook106 pages1 hour

    SMARTnership: The Third Road - Optimizing Negotiation Outcomes

    By Keld Jensen

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    About this ebook

    Keld Jensen's revolutionary concept called NegoEcomomics encourages negotiators to grow trust, add value, and build SMARTnership, enabling dealmakers to expand the potential that lies within a commercial transaction and broaden the vision of what is possible within a business relationship. Designed to be a quick read that equips corporate leaders to respond to both internal and external challenges, SMARTnership: The Third Road will change the way business people solve problems.

    In the 21st century economy, having the vision and the skills to deliver optimized negotiation outcomes yields appreciable bottom-line results. Senior-level executives are increasingly aware that the capacity to effectively negotiate is a core competency that enhances their ability to lead with pride and deliver shareholder value.

    LanguageEnglish
    PublisherAcanthus Publishing
    Release dateFeb 19, 2015
    ISBN9780990553670
    SMARTnership: The Third Road - Optimizing Negotiation Outcomes

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      Book preview

      SMARTnership - Keld Jensen

      Praise for

      SMARTnership: The Third Road

      SMARTnership offers smart advice to reach success in your next negotiation. An excellent primer for the novice and expert alike.

      Daniel L. Shapiro, Ph.D.

      Director of the Harvard International Negotiation Program and co-author, Beyond Reason: Using Emotions as You Negotiate

      "We live in a world where time is at a premium; where we have more relationships than ever before, but many are virtual; and where most people seem to expect that we will comply with their rules, their way of doing things.

      In such an environment, understanding how to negotiate effectively becomes ever more important. In his latest book, Keld Jensen gives us practical and easily applied principles to increase our chances of emerging with a winning proposition. This practical and highly readable work is not just for business negotiators; it offers all of us the chance to reach more harmonious and more successful results in all aspects of our lives."

      Tim Cummins

      President & CEO of International Association for Contract and

      Commercial Management (IACCM)

      Keld has found an immediately useful and compelling way to pull together practical insights designed to improve negotiation skill at all levels of an organization. He provides an engaging synthesis on executive negotiations and a framework to apply this in real life situations. I heartily endorse this book for strengthening one’s negotiation effectiveness.

      Andre Bisasor

      Founder, Negotiation & Leadership Conference at Harvard University, President, Institute for Negotiation Leadership & Diplomacy

      In framing the idea of SMARTnership, Keld Jensen has articulated a compelling concept that could transform the way corporations think about how they do business with their vendors and strategic partners. More importantly, Jensen has moved the topic of negotiation out of the legal department, into the C-suite. He demonstrates that the 21st century corporate executive must have a command of the skills of NegoEconomics to maintain a competitive advantage. Whether you are running a multinational publicly traded corporation or a start-up on a shoestring, you will be a more effective businessperson if you understand the big ideas put forward in this little book.

      Dr. Jeff Papows

      CEO of WebLayers, former President & CEO of Lotus Development Corporation, Author of Glitch—The Hidden Impact of Faulty Software, Enterprise.com—Market Leadership in the Information Age and Unbridled Passion—Show Jumping’s Greatest Horses and Riders

      ****

      Copyright © 2012 Keld Jensen

      All rights reserved.

      SMARTnership: The Third Road – Optimizing Negotiation Outcomes

      ISBN: 978-0-9847333-7-8

      All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission of the author, except for the inclusion of brief quotations in a review.

      Published by Acanthus Publishing, Boston, Massachusetts

      ****

      Table of Contents

      ACKNOWLEDGEMENTS

      CHAPTER 1 – WHY AND HOW WE NEGOCIATE

      A. Why We Negotiate

      B. How Do We Negotiate?

      CHAPTER 2 – THE COMBATIVE NEGOCIATOR

      A. Agreement Disputes

      B. Conflict Is Harmful

      C. Not Seeing The Whole Picture

      D. Don’t Get Caught In The Trap

      E. How To Meet A Combative Negotiator

      F. Meeting Conflict With Conflict

      G. Anticipate The Opponent’s Next Move

      CHAPTER 3 – THE COOPERATIVE NEGOCIATOR

      A. Share The Profit

      B. Seeing The Whole Picture

      C. Making The Pie Bigger Before Sharing

      CHAPTER 4 – SMARTnership™

      A. How SMARTnership Is Different

      B. Characteristics Of A SMARTnership Negotiator

      C. The Importance Of Variables

      D. SMARTnership In Action

      CHAPTER 5 – CAUTIONS

      A. Do Not Be Afraid of Conflict

      B. No One-Sided Concessions

      C. Avoid Being Naïve

      D. Document All Agreements

      E. Weak Negotiators

      F. Two-Thirds Of All Negotiations Fail

      G. Making Mistakes

      H. The Disadvantages Of Auctions

      I. Offers That Are Too Low

      J. Negotiations With Two Losers

      CHAPTER 6 – HOW TO ACHIEVE SMARTnership

      A. More Than Money

      B. Conflict Or Mutual Misunderstanding?

      C. Choose The Right Method

      D. Negotiate When Your Position Is Strong

      E. Preparation

      F. Handling Stress And Emotions

      G. The Negotiation Starts Before It Starts

      H. Assess The Situation

      I. Have Alternatives

      J. See The Entire Business

      K. Test The Limits

      L. Get The Dialogue Started

      M. Be Open But Not Naïve

      N. Trust

      O. Negotiation With Two Winners

      CHAPTER 7 – CONCLUSION

      ****

      Acknowledgements

      I would like to express my gratitude and acknowledge the contribution of my colleagues at MarketWatch and the Copenhagen Business School.

      I would also like to recognize the contribution of the outstanding staff at Acanthus Publishing:

      The extraordinary editorial skills of Joanna McQuade, Nick Alakel, Jack Patterson, Lauren Abbate, and Luke Messecar

      The production excellence of Theresa Yannetty, George Kasparian, and Caroline Steuernagel

      The exceptional design skills of Taz Sugajima

      Paige Stover has played a broader role than one generally expects of one’s publisher, and I am grateful for her counsel on a broad range of subjects.

      Lastly, I want to thank my daughter, Nadine, who brings endless joy to my life and fuels my creative juices through her inquisitiveness, biting social commentary, and passion for living life to the fullest. I am forced to admit that she may have taught me more about the art of negotiation than all of my professional mentors combined.

      Keld Jensen

      July 2012

      ****

      Chapter One

      Why and How We Negotiate

      A. Why We Negotiate

      Negotiations occur more often than you think. My research findings show that people who do not believe they negotiate actually engage in some form of negotiation between 8,000 and 10,000 times a year. Up to 80% of your communication could be described as a form of negotiation. Although you negotiate often, the individual situations change, meaning that you must be able to make use of different methods. Those who master the art of negotiation will be valuable assets to any organization.

      1. Depending On Others

      We all depend on others in order to reach our goals, solve our problems, and meet our needs. Situations in daily life are rarely black and white. Actions or ideas that you believe to be right, others may believe to be doubtful or unfavorable. Negotiation can help lead you to a decision.

      Example

      You have applied for, but not yet received, planning permission to construct a patio. However, your neighbour has received planning permission for a similar project. Is this fair or unfair?

      The interpretation of laws and regulations is not an exact science; all decision-makers allow their own evaluations and opinions to colour the process. In this situation, your neighbour saw an opportunity for negotiation. Instead of submitting a formal application, he made personal contact. He knows that he is negotiating with a person and not an authority, and

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