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3-d Negotiation: Powerful Tools to Change the Game in Your Most Important Deals :: 1591397995
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| Stuck in a “win-win versus win-lose” debate, most negotiation books focus on face-to-face tactics. Yet table tactics are only the “first dimension” of Lax and Sebenius’s path breakingtion™ approach, developed from their decades of doing deals and analyzing great dealmakers. deal makersheir “second dimension”—deal design—systematically unlock economic and non-economic value by creatively structuring agreements. But what sets the 3-D approach apart is its “third dimension”: setup. Before showing up at a bargaining session, 3-D Negotiators ensure that the right parties have been approached, in the right sequence, to address the right interests, under the right expectations, and facing the right consequences of walking away if there is no deal. This new arsenal of moves away from the table often exerts the greatest impact on the negotiated outcome. Packed with practical steps and cases, 3-D Negotiation demonstrates how superior setup moves plus insightful deal designs can enable you to reach remarkable agreements at the table, unattainable by standard tactics. Editorial Descriptions are usually submitted by the manufacturers, publishers and authors. Contact us if you are one of them, and wish to change the above description. |
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Author: Guest
Einstein said something to the effect of "make things as simple as possible, but no simpler." The authors of 3D-Negotiation have done just that.
They give appropriate credit to deft tactics at the bargaining table, but make a real contribution by illuminating the importance of setting up the optimal conditions for successful negotiation. If you're looking for cheerful cliches about win-win negotiation, you won't find them here. Nor will you find chest-thumping stories about winning through intimidation or brute force. Instead, you'll get insightful analysis of complex business and diplomatic cases, all of which have a mix of competitive and cooperative elements. Anyone who thinks that negotiation is only about who makes the first offer (or for that matter, who's adept at creating a trusting relationship) will get eaten for lunch by readers who master this book.
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Author: Guest
This book is a must read for anyone who really wants to learn how to change the game to really negotiate in a new way. This book will change the way you think about negotiating and can help empower you to be a more successful negotiator.
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Author: Guest
Most books on negotiation that I've read focus on the tactics you use when you're face-to-face with the opponent. But what if you take a step back and shape the negotiation before you even show up? That's the general direction of 3-D Negotiation: Powerful Tools to Change the Game in Your Most Important Deals by David A. Lax and James K. Sebenius. I can see where this would give you a step up in numerous situations...
Contents:
Part 1 - Overview: Negotiate in Three Dimensions; Do a 3-D Audit of Barriers to Agreement; Craft a 3-D Strategy to Overcome the Barriers
Part 2 - Set Up the Right Negotiation: Get All the Parties Right; Get All the Interests Right; Get the No-Deal Options Right; Get the Sequence and Basic Process Choices Right
Part 3 - Design Value-Creating Deals: Move "Northeast"; Dovetail Differences; Make Lasting Deals; Negotiate the Spirit of the Deal
Part 4 - Stress Problem-Solving Tactics: Shape Perceptions to Claim Value; Solve Joint Problems to Create and Claim Value
Part 5 - 3-D Strategies in Practice: Map Backward to Craft a 3-D Strategy; Think Strategically, Act Opportunistically
Notes; Authors' Note; Index; About the Authors
Lax and Sebenius have extensive experience in working with corporations negotiating multi-million dollar deals, and from that base they have evolved the idea of 3-D negotiation. Basically, you need to look at your deal-making in a multidimensional way instead of just trying to hammer the side across the table. In some cases, this may mean that the party you're trying to do the deal with isn't even the right customer you should be approaching. Or perhaps the no-deal option of the other side is still better than what you have to offer. What then? These guidelines, if followed, can make your time at the table much more productive, and allow both sides to come away with what they need and/or want in the deal.
The authors don't completely ignore the strategy of what plays out when the parties are face-to-face. Such things as understanding the Zone Of Possible Agreement (ZOPA) and being aware of the reciprocity factor will keep you from giving up too much too soon. But keeping the deal from quickly becoming a value-claiming effort can lead to possibilities that aren't necessarily envisioned up front. There are plenty of examples from real companies and real deals so that you can see how it works in real life...
An excellent read that will allow you to look at your next deal as more than a win-lose proposition...
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Author: Guest
As a very fast-moving entrepreneur, I have to negotiate constantly. I'm
always on the lookout for good ideas to improve the deals I make. Frankly,
I don't need yet another book proclaiming that "win-win" is the answer or,
alternatively, that everything "starts with no." Obviously "no" has its
role and you're looking for an agreement that works for everyone and that
makes others want to keep on dealing with you. But I'm getting a little
tired of negotiation books with these obvious messages. So, when I picked
up 3-D Negotiation, I realized that it represents something different. Not
just war stories and platitudes, but a very practical approach, clearly
expressed and based on a lot of experience. The authors stress the
importance of the right "setup" moves away from the table before you even
begin the process at the table. They offer lots of examples to clarify
what they mean. This book is a standout.
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Author: Guest
During a recent conversation with former Disney General counsel Lou Meisinger about negotiating the resolution of commercial litigation, he suggested breaking impasse during the mediation of high-stakes litigation by "transforming the litigation into an opportunity to make a deal."
This is the precise advice (in great depth and thorough scope) given by Lax and Sebenius in their terrific new negotiation text, 3-D Negotiation, Powerful tools to Change the Game in Your Most Important Deals.
The three dimensions they refer to are tactics, deal design and set-up, tactics being strategies exercised at the bargaining table; deal design involving the invention and structuring of agreements that create greater value for all parties; and, set-up, the architecture of the deal, including selection of parties, sequencing of negotiations among them, addressing the right issues at the best time and considering all no-deal options.
The earliest example that make me read hungrily on, concerns Staples' post-start up quest for venture capital. I'll briefly tell the tale stripped of texture and nuance (the more interesting, in-depth account can be obtained by buying the book).
Staples, the original big-box office supply store, attracted a formidable competitor early on -- Office Depot. To survive in the newly competitive market, Staples needed expansion capital and it needed it fast. All of the venture capital firms and the investment bankers were valuing Staples at pretty much the same price point, a point unacceptable to Staples' founder. At a loss for new ideas, he called Harvard Business School Professor Bill Sahlman, an expert on venture firms and start-up financing.
Sahlman recommended breaking the impasse by changing the deal-design and set-up by finding new players and re-sequencing the negotiation. Together, he and Staples' founder identified investors who were flush with money and potentially interested in better ways to deploy it. These new investors were the limited partners of the old venture capital firms that we're holding firm on pricing. The limited partners, Sahlman suggested, might well pay more for the opportunity to obtain a piece of Staples' action that the investment firms would.
Because the VC firms charged hefty management fees (usually 20% of the profits) if Staples offered the deal directly to the VC's investors, those investors could reap 100% of the profits for the same share of the Staples' pie rather than the 80% offered by the VC's. This had the effect of increasing the actual value of each share by 20%.
As Lax and Sebenius stress, this result could not have been achieved by negotiations "at the table" or even with the originally identified stake-holders. What Staples did was to "favorably reset the table with right new parties whose interests were far more aligned with the deal he wanted to do." Then it sequenced the process by going back to the VC's and the investment banks, saying, "this thing is filling up fast; do you guys want to play or not?"
Every lawyer litigating a "bet the company" case needs to buy this book and read it. You can't leave this one unread on the shelf next to your yellowing copy of "Getting to Yes." The business people are at least a generation ahead of the lawyers in deal making. Let's learn everything they have to teach us!
For more negotiation advice from master negotiators and academics like Lax & Sebenius (and a bit of my own) see [...]
Victoria Pynchon, Settle It Now Dispute Resolution Services, 499 North Canon Drive, Suite 400, Beverly Hills, California 90210 T.323.217.5162 F.323.852.1535 vpynchon@settlenow.com www.settlenow.com
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