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1 – 10 of over 33000Thomas Wiegelmann and Horacio Falcão
The practice briefing aims to provide real estate professionals and negotiators with a superior understanding of negotiation process design to maximise real estate disposition…
Abstract
Purpose
The practice briefing aims to provide real estate professionals and negotiators with a superior understanding of negotiation process design to maximise real estate disposition outcomes. The purpose of this paper is to discuss the aforementioned objective.
Design/methodology/approach
This is an expert opinion piece that merges the practical anecdotal knowledge from a real estate expert and a professional negotiator. This opinion piece results from the identification of an underappreciated pattern that the two experts uncovered while discussing several real estate disposition cases, namely the importance of designing a negotiation process to maximize the positive impact of real estate disposition strategies.
Findings
Proactively crafting a negotiation process and matching the same to leverage the chosen real estate disposition strategy, instead of relying on a standard negotiation approach across the board, enhances the odds of negotiating superior outcomes.
Practical implications
In this practice briefing, real estate professionals and even negotiators of other assets can become more aware of the plurality of value drivers, consider the most attractive potential buyers, then use these two variables to craft the optimum disposition strategy for their asset, as well as match a negotiation process out of four main possibilities: 1-to-1, 1-to-few, closed-to-many and open-to-many.
Originality/value
The originality comes from demonstrating based on the authors' expert opinion how negotiation process is an important variable in real estate transactions, and how the parties can shape the negotiation process to their conditions, variables and preferences.
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The purpose of this paper is to explore how negotiation teams can rely on social networks to enhance their performance at the table.
Abstract
Purpose
The purpose of this paper is to explore how negotiation teams can rely on social networks to enhance their performance at the table.
Design/methodology/approach
The paper examines the impact of social relations on team performance in the negotiation task. It conducts a selective review and integration of negotiation, small group and social network research.
Findings
The paper's main argument is that teams can rely on social relations to locate and get hold of resources that will augment their ability to manage the bargaining process. To tap into the value of social networks, teams need to look beyond their internal processes and develop strategies that actively manage their environment. The paper examines three such strategies: membership change, knowledge acquisition, and ambassadorial activity.
Originality/value
The paper outlines a relational approach to team negotiation. This approach has the potential to improve team negotiation practice by opening up a new way to design and manage negotiation teams.
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This paper explores commercial negotiation skills in the context of the buying/selling dynamics using the writer's experience as a Lead Negotiator. Planning, conducting and…
Abstract
This paper explores commercial negotiation skills in the context of the buying/selling dynamics using the writer's experience as a Lead Negotiator. Planning, conducting and analysing the outcomes of commercial negotiations are key elements of successful business. Developing the skills of commercial negotiation is a demanding, valuable and often personally challenging task. The outcomes of commercial negotiation are often difficult to assess; such as the impact on the short‐ and long‐term buyer/seller relationship and the negotiator's personal and organizational development, hence the need to identify, understand and develop commercial negotiation skills. Commercial negotiation is explored from three perspectives; process, the respective parties' objectives and bargaining. The need for planning, the foundation of any process, in a commercial negotiation is detailed. A typology of techniques of persuasion is introduced and briefly explained.
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José Garson and Jenny Quillien
Views Game Theory, as a long‐time companion model and guide for theexploration of negotiations, as having not only reached its limits but,perhaps, as having become…
Abstract
Views Game Theory, as a long‐time companion model and guide for the exploration of negotiations, as having not only reached its limits but, perhaps, as having become counter‐productive in the search for greater understanding and skill. Suggests that a more powerful heuristic model may be available by turning to the current work on learning organizations. Suggests that by borrowing some of the basic concepts developed by C. Argyris and D. Schön, and considering negotiations as learning organizations, we allow ourselves to move from the analytical mode of Game Theory to a more synthetic approach. The synthetic approach allows us to distinguish more carefully between simple and difficult negotiations and to rethink success and failure. It also allows us to account more adequately for such phenomena as the preliminary negotiations to negotiate, the role of form, and the significance of the links between negotiator and home base. The pressing reality of current events in both international politics and business certainly should incite us to give serious consideration to this more operational model.
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There is a growing literature on negotiation, much of which is directed towards negotiations which take place in the industrial relations context. However, negotiation is a…
Abstract
There is a growing literature on negotiation, much of which is directed towards negotiations which take place in the industrial relations context. However, negotiation is a practical activity and there is a need to bridge the gap between the thoeretical framework of the negotiation process and the appropriate application of particular negotiating techniques. One approach is to present an explanatory framework in terms of the motivation of one's negotiating opponent, usually relying on Maslow's hierarchy of needs. These authors then present a series of semi‐anecdotal descriptions of tactics to employ. Such an approach does not fully present any underlying principles to be grasped by negotiators, nor does it form a basis for the training of negotiating techniques.
An earlier article in this journal outlined a model of the process of negotiation with particular reference to negotiation in the industrial relations context. The model suggests…
Abstract
An earlier article in this journal outlined a model of the process of negotiation with particular reference to negotiation in the industrial relations context. The model suggests that negotiations go through five phases or patterns of negotiating activity as the negotiators move through to a settlement. On the basis of the model, it is possible to identify several implications for negotiators, and, in particular, to make the point that the two parties must jointly manage their progress through the negotiations. Within the negotiation process there are three potential deadlocks which could emerge to obstruct this progress if the negotiations were not properly and jointly managed. This article develops the concept of deadlocks in negotiation more fully, and attempts to identify the implications for negotiators by suggesting how deadlocks might be identified and overcome.
Abbas Ramdani, Ridwan Raji and Mohd. Khairie Ahmad
The acceleration of globalized commerce and economic activities has meant that conventional and Shariah (Islamic law) compliant organizations transact and negotiate among…
Abstract
Purpose
The acceleration of globalized commerce and economic activities has meant that conventional and Shariah (Islamic law) compliant organizations transact and negotiate among themselves. Therefore, this study aims to explore the concept of corporate negotiation and the communicative principles that guide the negotiation process among Shariah-compliant organizations.
Design/methodology/approach
The study uses a qualitative method through an inductive interpretative approach by conducting 20 in-depth interviews among four groups of experts. These consist of three muftis, ten academicians in Islamic assets, finance and asset jurisprudence; three practitioners in charge of inter-organizational negotiation and decision-making; and four shariah board members of selected Islamic banks.
Findings
The findings reported that business negotiation is used by Islamic organizations for reconciliation, consultation, resolving disagreements and as a means of achieving spiritual satisfaction. Furthermore, the key communicative principles of the negotiation process consist of the credibility of informational exchange, flexible interactions and the openness and truthful disclosure of information.
Research limitations/implications
The empirical data discussed in this study supports the claim that macro-environmental factors and social and cultural values should be considered when examining business negotiating behaviors. However, this study focuses only on the banking/service organization negotiation. Therefore, future research should focus on the Islamic negotiation process in the context of diplomatic and international relations.
Practical implications
The findings reported in this study offer insight for negotiators operating among Islamic organizations to understand the principles and process of negotiation in the purview of Shariah standards and principles.
Originality/value
In terms of theoretical implications, this study reveals a clear conceptual difference between the conventional concept and the Islamic perspective of corporate negotiation. Also, this study highlights the impact of organizational culture, specifically Islamic management strategies, on the business negotiation process and business communication principles.
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Michel Mann, Marco Warsitzka, Joachim Hüffmeier and Roman Trötschel
This study aims to identify effective behaviors in labor-management negotiation (LMN) and, on that basis, derive overarching psychological principles of successful negotiation in…
Abstract
Purpose
This study aims to identify effective behaviors in labor-management negotiation (LMN) and, on that basis, derive overarching psychological principles of successful negotiation in this important context. These empirical findings are used to develop and test a comprehensive negotiation training program.
Design/methodology/approach
Twenty-seven practitioners from one of the world’s largest labor unions were interviewed to identify the requirements of effective LMN, resulting in 796 descriptions of single behaviors from 41 negotiation cases.
Findings
The analyses revealed 13 categories of behaviors critical to negotiation success. The findings highlight the pivotal role of the union negotiator by illustrating how they lead the negotiations with the other party while also ensuring that their own team and the workforce stand united. To provide guidance for effective LMN, six psychological principles were derived from these behavioral categories. The paper describes a six-day training program developed for LMN based on the empirical findings of this study and the related six principles.
Originality/value
This paper has three unique features: first, it examines the requirements for effective LMN based on a systematic needs assessment. Second, by teaching not only knowledge and skills but also general psychological principles of successful negotiation, the training intervention is aimed at promoting long-term behavioral change. Third, the research presents a comprehensive and empirically-based training program for LMN.
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Berndt Allan Lundgren, Cecilia Hermansson, Filip Gyllenberg and Johan Koppfeldt
The purpose is to increase knowledge of rent negotiations by investigating differences in beliefs held by property landlords and retailers on factors that they deem important in…
Abstract
Purpose
The purpose is to increase knowledge of rent negotiations by investigating differences in beliefs held by property landlords and retailers on factors that they deem important in rent negotiation.
Design/methodology/approach
This study investigates differences in subjective beliefs held by landlords and retail trade tenants on factors that affect rent levels during the rent negotiation process using a factor analysis approach. Semi-structured interviews were made with seven large real estate owners/landlords and retailers and eight experts in negotiating retail rent to elicit variables that have an impact on retail rent. Thereafter, a web-based survey was sent to 421 respondents who had experience in rent negotiation. Several factors were extracted using factor analysis. The data collection was made in Sweden during the coronavirus disease 2019 (COVID-19) pandemic in late spring 2021
Findings
Significant differences are found in beliefs held by landlords and retail trade tenants in four out of seven-factor: regional growth, e-commerce, customer focus and trust. Landlords rate these factors higher than retailers do. There are also systematic differences between landlords and retailers depending on their education levels on the following factors: rent and vacancies, e-commerce and customer focus. The number of years of experience did not prove to be significant instead differences are found to exist in factors
Research limitations/implications
Not only do traditional factors of importance, such as lease structure, the effect of location, size and anchor or non-anchor tenants, have an effect on negotiated rent levels. Differences in other factors also exist, such as regional growth, e-commerce, customer focus and trust factors that may play an important role in the negation of retail rent.
Practical implications
The findings provide new insights into the different views on factors that affect rent negotiations between landlords and retail tenants. Knowledge of such differences may increase the overall transparency in the negotiation process. Transparency may be increased by putting forward information on these factors before a negotiation takes place, in order to smooth differences in their beliefs.
Social implications
If transparency in the negotiation process of retail rent increases, time to reach an agreement, stress and anxiety can be reduced by putting forward information on factors where differences exist between landlords and retailers
Originality/value
New insights on retail rent negotiation have been put forward in this research paper. Not only do traditional factors such as lease structure matters, but subjective beliefs on factors such as regional growth and the level of education are also important, as this study has shown using a factors analysis approach.
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Christian Glade, Peter Kesting, Remigiusz Smolinski and Dominik Kanbach
Negotiations with venture capitalists (VCs) play a crucial role in the entrepreneurial financing process. Habitual entrepreneurs are generally able to secure more venture capital…
Abstract
Purpose
Negotiations with venture capitalists (VCs) play a crucial role in the entrepreneurial financing process. Habitual entrepreneurs are generally able to secure more venture capital funding and on better deal terms than novices. This study investigates the disparities in negotiation competencies between habitual and novice entrepreneurs during VC funding negotiations.
Design/methodology/approach
This study employed a qualitative approach to investigate the variation in negotiation competencies between habitual and novice entrepreneurs, utilizing the negotiation competency model (NCM). The data analysis and interpretation adopted an inductive concept development approach. A total of 21 semi-structured interviews were conducted with seasoned VCs located in Europe, all of whom had actively engaged in funding negotiations with both habitual and novice entrepreneurs.
Findings
The findings revealed substantial disparities between novice and habitual entrepreneurs in VC negotiations. Although not all competencies of the NCM exhibited variances, the results indicate three primary dimensions contributing to these differences: expertise, reputation, and negotiation competence.
Originality/value
This study is groundbreaking as it represents one of the earliest empirical investigations into the entrepreneurial negotiation competencies within VC negotiations. The findings endeavor to narrow the gap between novice and habitual entrepreneurs in VC negotiations by pinpointing the distinct variations between these two groups, which hold significant practical implications. Furthermore, this study expands the conceptual framework of the NCM by identifying supplementary competencies within the realm of VC negotiations.
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