SMARTnership: The Third Road - Optimizing Negotiation Outcomes
By Keld Jensen
()
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.
Related to SMARTnership
Related ebooks
Negotiation: Business & Leadership, #1 Rating: 0 out of 5 stars0 ratingsNegotiation Masterclass: How to achieve better outcomes in your business and personal life Rating: 0 out of 5 stars0 ratingsHow to Think Strategically: Upskilling for Impact and Powerful Strategy Rating: 0 out of 5 stars0 ratingsThe Only Negotiating Guide You'll Ever Need (Review and Analysis of Stark and Flaherty's Book) Rating: 0 out of 5 stars0 ratingsThe Circle of Leadership Rating: 0 out of 5 stars0 ratingsThe Frontline CEO: Turn Employees into Decision Makers Who Innovate Solutions, Win Customers, and Boost Profits Rating: 0 out of 5 stars0 ratingsBeyond the Babble: Leadership Communication that Drives Results Rating: 0 out of 5 stars0 ratingsLeading in Real Time Rating: 0 out of 5 stars0 ratingsTrusted: The human approach to building outstanding client relationships in a digitised world Rating: 3 out of 5 stars3/5Stop the Bleeding: A mind shift through business crisis management... Thinking and doing everything differently Rating: 0 out of 5 stars0 ratingsExecutive Career Advancement: How to Understand the Politics of Promotion the X Factor Rating: 0 out of 5 stars0 ratingsLegacy of Leadership: Idea-rich Strategies for 'Serious' Leaders Rating: 0 out of 5 stars0 ratings12 Rules for Leaders: The Foundation of Intentional Leadership Rating: 0 out of 5 stars0 ratingsTeam Turnarounds: A Playbook for Transforming Underperforming Teams Rating: 0 out of 5 stars0 ratingsLanding in the Executive Chair: How to Excel in the Hot Seat Rating: 0 out of 5 stars0 ratingsLeading for the Long Term: European Real Estate Executives on Leadership and Management Rating: 0 out of 5 stars0 ratingsThe HR Catalyst Rating: 0 out of 5 stars0 ratingsMaking It in Management: Developing the Thinking You Need to Move up the Organization Ladder … and Stay There Rating: 0 out of 5 stars0 ratingsMotivating Others: Bringing out the Best in People Rating: 0 out of 5 stars0 ratingsLeadership Language: Using Authentic Communication to Drive Results Rating: 0 out of 5 stars0 ratingsThe Orange Revolution: How One Great Team Can Transform an Entire Organization Rating: 0 out of 5 stars0 ratingsOwn the Room: Business Presentations that Persuade, Engage, and Get Results Rating: 5 out of 5 stars5/5Light Your Fire: How leveraging strengths will inspire you and your team members towards skyrocketing success! Rating: 0 out of 5 stars0 ratingsThe Brilliant Leader ModelTM: for the Executive Evolution Rating: 5 out of 5 stars5/5Beyond the Chicken Dance: An Enlightened Approach to Building Better Business Alliances Rating: 0 out of 5 stars0 ratingsLeadership When the Heat's On Rating: 0 out of 5 stars0 ratingsWhat You Really Need to Lead (Review and Analysis of Kaplan's Book) Rating: 0 out of 5 stars0 ratingsThe Three C.E.O. Checklists: A Leadership Process <Br>That Actually Works Rating: 5 out of 5 stars5/5Exploring Great Leadership: A Practical Look from the Inside Rating: 0 out of 5 stars0 ratings
Negotiating For You
Crucial Conversations Tools for Talking When Stakes Are High, Second Edition Rating: 4 out of 5 stars4/5Never Split the Difference: Negotiating As If Your Life Depended On It Rating: 4 out of 5 stars4/5Emotional Vampires: Dealing with People Who Drain You Dry, Revised and Expanded 2nd Edition DIGITAL AUDIO Rating: 5 out of 5 stars5/5Pre-Suasion: A Revolutionary Way to Influence and Persuade Rating: 4 out of 5 stars4/5You Can Negotiate Anything: The Groundbreaking Original Guide to Negotiation Rating: 4 out of 5 stars4/5Crucial Conversations: Tools for Talking When Stakes are High, Third Edition Rating: 4 out of 5 stars4/5Art of War: The Definitive Interpretation of Sun Tzu's Classic Book of Strategy Rating: 4 out of 5 stars4/5Collaborating with the Enemy: How to Work with People You Don’t Agree with or Like or Trust Rating: 4 out of 5 stars4/5Ask for More: 10 Questions to Negotiate Anything Rating: 4 out of 5 stars4/5Never Split The Difference: Negotiating As If Your Life Depended On It : by Chris Voss | The MW Summary Guide Rating: 0 out of 5 stars0 ratingsSummary of Influence: by Robert B. Cialdini | Includes Analysis Rating: 5 out of 5 stars5/5Getting to Yes with Yourself: (and Other Worthy Opponents) Rating: 4 out of 5 stars4/5How to Think Like a Lawyer--and Why: A Common-Sense Guide to Everyday Dilemmas Rating: 3 out of 5 stars3/5Hard Asks Made Easy: How to Get Exactly What You Want Rating: 0 out of 5 stars0 ratingsBargaining with the Devil: When to Negotiate, When to Fight Rating: 4 out of 5 stars4/5NLP: The Essential Guide to Neuro-Linguistic Programming Rating: 4 out of 5 stars4/5Summary Guide: The 48 Laws of Power by Robert Greene | The Mindset Warrior Summary Guide Rating: 5 out of 5 stars5/5Fundamentals of Theatrical Design: A Guide to the Basics of Scenic, Costume, and Lighting Design Rating: 4 out of 5 stars4/5Influence and Persuasion (HBR Emotional Intelligence Series) Rating: 5 out of 5 stars5/5How to Break (or renegotiate) ANY Contract Rating: 0 out of 5 stars0 ratingsThe Mediator's Handbook: Revised & Expanded fourth edition Rating: 4 out of 5 stars4/5The Power of Conflict Rating: 3 out of 5 stars3/5Summary of Getting to Yes: by Roger Fisher, William Ury, and Bruce Patton | Includes Analysis Rating: 0 out of 5 stars0 ratingsNegotiating the Impossible: How to Break Deadlocks and Resolve Ugly Conflicts (without Money or Muscle) Rating: 5 out of 5 stars5/5
Reviews for SMARTnership
0 ratings0 reviews
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