REAL-WORLD INSIGHTS

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Published: Feb 04 , 2016
Author: Jared Bamford

I went recently went back home to New Zealand to spend time with my family. As usual there were plenty of opportunities for in-depth conversations over numerous cups of coffee and home cooked meals. On one such occasion my father told me a story about his first job as a Postie, when he was in his mid-teens.

Published: Nov 11 , 2015
Author: Robin Copland

Negotiation is a trading process. Look out for the opportunity to close the deal and it could make a significant difference to any concessions you make. It is as if it was yesterday and I can see their faces yet - stern, unbending, implacable. The setting was innocuous enough - a small meeting room in the hotel for which I was Sales Director. On one side of the table, I sat with the General Manager and on the other were two senior managers of a large computer company whose main European plant was situated twenty miles down the road...

Published: Nov 07 , 2014
Author: Mike Freedman

Frequently people want to talk about their negotiating strategy. My immediate (if private) reaction to this is “oh dear!!” Negotiation is a means of dealing with conflict; it can be stressful. So, in preparation we tend to surround ourselves with all sorts of tools and defences that will make us feel more powerful or at least more comfortable. For example people like to play out their negotiation strategy before it happens. Their strategy involves a long storyboard, a sequence of exactly what they and the other side will say and do.

Published: Nov 14 , 2013
Author: Stephen White

After the failure, albeit perhaps temporarily, of the negotiations in Geneva last weekend between the Iranian Foreign Minister and representatives of the superpowers over the future of Iran’s nuclear ambitions, US Secretary of State John Kerry gave an interview to the BBC. The transcript can be found here . My interest was drawn to this extract...

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The Ultimate Game Theory Strategy

‘The Prisoners’ Dilemma’ is a popular game theory example involving a two-person game of strategic interaction. One version is as follows. Two prisoners are accused of a crime. If one confesses and the other does not, the one who confesses will be released immediately and the other will spend 20 years in prison. If neither confesses, each will be held for only a few months. If both confess, they each spend 15 years in prison. This creates a paradox in decision analysis in which two individuals acting in their own self-interest do not produce the optimal outcome...

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