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Negotiating Partnerships: Increase profits and reduce risks

Book Description

Are you identifying the right deals and making them profitable? Or are you haggling over who gets the biggest piece of the pie, rather than working out how to make the pie bigger?

This book will help you identify, develop and safeguard added value, which means that both businesses in the partnership can develop and grow with reduced risk.

Not just any partner and not just any deal will do. An international study based on over 20,000 negotiations revealed that a huge amount of time is wasted on producing deals that are often of only marginal merit. This book will help you identify the deals which are worth doing and set you on the right track to make them profitable.

Negotiating Partnerships will take you through dozens of areas where additional value can be found, to make win-win partnership deals that really work for you. You will learn how to identify opportunities and conclude better deals at the same time as making the other party feel good.

This book sets out key steps to co-operative negotiation so that you have the know-how to achieve profitable partnerships.

The partnering process is one that makes sense in any line of business from online retail to manufacturing via everything in between. As the business environment becomes tougher, and margins are continually shaved this book will help you maintain and grow your existing profit.

In all cases, a partnership should provide better solutions than those currently available to each party separately. With this book you can achieve partnerships, which reduce costs and risks, improve earnings and at the same time reap the benefit of each other's experience, creativity and contacts.

Yes, it is important for the other party in a partnership to be satisfied. But it is your job as a negotiator to try to ensure that you can keep to yourself most of the added value created. This book will help you through this process so that you find and retain good and valuable partnerships.

Table of Contents

  1. Copyright
  2. Financial Times Prentice Hall
  3. About the authors
  4. Acknowledgements
  5. Introduction
  6. The gospel of partnership
    1. Mergers
    2. The human factor
    3. Management visions – employees’ daily diet
  7. Good and bad negotiators – what are the differences?
    1. Over 1000 negotiators have been tested
    2. How much do all the mistakes cost?
    3. The ‘ketchup effect’
    4. How to get a bigger slice of the cake
    5. Summary: Why negotiations fail
    6. What is communication?
    7. Checklist: International negotiations
  8. Distrust costs millions
    1. Deceit is widespread
    2. Talking versus writing
    3. Conscious versus subconscious
    4. Stress
  9. Why co-operation provides better solutions
    1. Two basic methods of creating added value
    2. The uncertain and incomplete basis for decision making
    3. Exhaustive research
    4. Conclusion and further reading
  10. This is where we look for added value
    1. The room for negotiation
    2. A simple model to help you locate the added value
    3. From public authority to commercial enterprise
    4. Buying a table
    5. What can we learn from developments in the furniture industry?
    6. Benchmarking — or who can you copy?
    7. Financial variables and conditions
    8. Learn to see the opportunities and choose a different mode of payment
    9. Quality and performance, the technical specification of requirements
    10. Economies of scale
    11. Time
    12. Purchasing patterns
    13. Rights
  11. Negotiations as zero-sum games or as co-operation
    1. Zero-sum games lead to low-quality solutions
    2. Co-operation means a bigger stake
    3. Co-operation makes serious demands on the negotiators
    4. Subconscious wishes and motives
    5. Choice of strategy
    6. How the combative negotiator chooses his strategy
    7. Five different types of behaviour
    8. One and the same negotiation is perceived differently
    9. What are the best negotiation methods?
    10. Summary: Choice of strategy
  12. Not everything can be measured and weighed
    1. Fairness
    2. Imaginary forms of added value
  13. What are the prerequisites for a successful co-operation agreement?
    1. Rational and knowledgeable negotiators
    2. Communication skills
    3. Generosity
    4. Creativity
    5. Managerial task
  14. Co-operation risks
    1. What are the risks?
  15. Understanding customers’ needs
    1. Case study: FKI Logistex
    2. Crisplant creates a better business by understanding the needs of the customers
    3. Credibility and trust
    4. Solid homework
    5. Changed behaviour
  16. The ugly duckling expects a little more ...
    1. Case Study: NCC Corporation–Partnership is a state of mind
    2. Competence development
    3. Credibility training
    4. Many years’ experience
    5. Great potential in the building industry
    6. Insight into the client’s or the subcontractor’s situation
    7. Savings on fewer disputes
    8. Public challenge
    9. Training
    10. Consulting engineers
    11. New challenges
    12. Partnerships in real life
  17. The value of partnering is based on the strength of the employees
    1. Case study: Hilton Hotel Group and Scandic Hotels — adding value
    2. The suppliers become partners
    3. Partnering is created by human will
  18. Knowledge of one’s own qualities and costs improves the chance of successful partnering
    1. Case study: TV2 Advertising
    2. New focus
    3. New demands on the advertisers
    4. Insight and credibility
  19. The timetable
  20. Examples of different strategies
    1. How a buyer sets up his strategy
    2. Alternative strategies for the buyer
    3. How a seller can work out his strategy
    4. The importance of taking the initiative
  21. Conclusion — how to become a better negotiator
    1. About MarketWatch Management