OPTIMIZED NEGOTIATIONS FOR HIGHEST RETURNS

INTRODUCTION

In negotiations, as in any business transaction, every effort should be made to achieve a high investment/return ratio. We should seek a strong return for the cost and effort invested. To achieve a high ratio, negotiations must be optimal on three dimensions or axis's, which are:

• 1) Efficiency
• 2) Value
• 2) Relationships

A negotiation which is efficient, but results in low value gains, or one that achieves high value gains but destroys the relationship, or one with a lot of wasted time due to severe inefficiencies is said to be "sub-optimal". For a negotiation to be optimal and to achieve a high investment/return ratio, it should be efficient in process, attain strong value gains and result in good and trusting working relationships.

Although to cover these three axis's in the detail that they deserve is beyond the scope of this one-minute read, nevertheless I will provide some useful guidelines that you can immediately implement.

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