Negotiation Excellence: Successful Deal Making
Abstract
Nearly 300 years ago, Francois de Callieres, a French diplomat, famously observed that the fate of the greatest states depends on the quality of their negotiators. His observation appears to have stood the test of time, as the fate of modern organizations in today's increasingly competitive global economy still depends largely on the skill and conduct of its negotiators. To illustrate the critical role of skilled negotiators, one has to look no further than at the dismal record of recent high-profile mergers and acquisitions. In numerous deals, deal makers have wiped out significant value off their market capitalization through failures in the deal making process. In contrast, successful serial deal makers have long recognized the value of negotiation and invested in building individual and institutional negotiation capabilities.Negotiation Excellence: Successful Deal Making was written by the leading negotiation experts from top-rated universities in the USA and in Asia and its objective is to introduce the readers to the theory and the best practices of effective negotiation. The book includes chapters ranging from: preparing and planning well for successful negotiations; building relationships and establishing trust between negotiators; negotiating creatively to create mutual value and win-win; understanding and dealing with negotiators from different cultures; to managing ethical dilemmas.In addition to emphasizing the link between theory and practice, Negotiation Excellence: Successful Deal Making includes deal examples such as: Renault-Nissan alliance; mega-merger between Arcelor and Mittal Steel; Kraft Foods acquisition of Cadbury PLC; Walt Disney Company negotiation with the Hong Kong government; and Komatsu, a Japanese firm, negotiation with Dresser, an American firm.