Many negotiators will be so focused on claiming the maximum value in a negotiation that they will forget the bonuses from value creation. Being a successful negotiator involves knowing when it is appropriate to give and when it is appropriate to claim. An effective negotiation strategy consists in coming to the bargaining table with creative …
Negotiation has played a crucial role in human civilization. From tribes bartering goods to modern businesses striking multi-million-dollar deals to governments avoiding starting world wars, good negotiators have been essential for survival, success, and progress. Throughout history, some famous negotiations have changed the world and made headlines. These transactions have uncovered critical insights into different …
In this blog post, we’ll go through the basics of what a counterparty is, how it works in different types of transactions and financial markets, and why it is important. When it comes to any form of financial transaction or contract, there is always a counterparty. Understanding the concept of the word counterparty is essential …
How does the Petition for Declaration of Emancipation of Minor work? Let’s take a look. Seventeen-year-old Gloria stares at her bank balance unbelievingly. “Mom! Did you take money out of my savings account again? Her Mom, Jean, seems embarrassed. “I had to, baby. The rent was due and I haven’t been up to working full …
As the saying goes “life is a series of negotiations”, with that in mind, what is an important driver to a successful negotiation (and ergo, life)? Negotiation by nature involves the ability to be persuading or influence other people. This makes conflict resolution and alternative dispute resolution an easier practice. The best negotiator aims to …
What is distributive negotiation exactly? Anyone who participates in negotiation has dealt with a situation where one party seeks to gain more and more until a good deal is too far away to reach. When the bargaining breaks down and each person focuses on their own goals, it shifts from integrative bargaining to distributive negotiation. …
When it comes to negotiations, understanding concessions is key to successful outcomes. But what really is a concession in the context of negotiating? Concession involves compromises between two or more parties, who are aiming toward a mutually beneficial agreement. Generally speaking, concessions mean trading something deemed important by one party that the other holds greater …
Intergroup conflict might arise in any workplace as various groups work together to support and further the mission and collective interests of the company. Some groups are defined by job title—the accountants, the lawyers, and the marketing team. Other groups are defined by project or subject area. Still, others may be determined by the level in the company …
Similar in some ways to a judgment from a court, an arbitration award decides how the dispute will be resolved. See how it differs from a litigation judgment.
What is ADR? Alternative dispute resolution (ADR) is a blanket term used to speak to a series of defined processes that conflicting parties can use as an alternative to traditional litigation. The principle is comprised of two traditional methods for settling disputes that opposing parties may opt for when an agreement is being a mutually acceptable …
