What are the real dos and don’ts of the art of negotiating? Here are some hints and tips to executives buying everything from coverage to another company.
When two teams of people come together and start to negotiate, there are many dynamics at play, says James Thomas, managing director at negotiation consultant Seren Partnership. One of the biggest is what information is revealed and by whom.
He stresses that there are always going to be aspects of talks that are confidential, as one team vies for advantage over the other.
“You’ve got to be very careful what you reveal, because some people like to talk, to divulge information,” Thomas says. “Make sure that your team are very clear about which commercially sensitive information they’re going to withhold.”
Seren Partnership, Monte-Carlo, James Thomas,