Summary of The Art of Negotiation

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Rating

8 Overall

9 Applicability

8 Innovation

8 Style


Recommendation

Sports great Arthur Ashe enjoyed a lucrative endorsement contract with Head, the firm that supplied his tennis rackets, but the company wanted to stop paying his 5% sales royalty. During discussions, the chairman of Head barged into the room. “Outrageous!” the chairman yelled. “He’s making 10 times what I’m making!” “But Pierre,” Ashe’s agent said, “Arthur has a much better serve than you do.” His comment broke the tension, and Ashe and Head worked out a mutually beneficial deal. Harvard Business School negotiations expert Michael Wheeler uses colorful and instructive anecdotes to illustrate his hundreds of suggestions on what does and doesn’t work during negotiations. getAbstract recommends this fun and highly useful manual to anyone who must negotiate.

In this summary, you will learn

  • Why improvisation and learning are crucial in negotiations,
  • How you can strategize negotiations,
  • How to use a “deal triangle,” and
  • How to determine why a negotiation succeeded or failed.
 

About the Author

Harvard Business School professor Michael Wheeler is a member of the school’s Negotiation, Markets & Organizations unit, editor of the Negotiation Journal and co-chair of the board of the nonprofit Consensus Building Institute.

 

Summary

Unexpected Reversals
Investment firm manager Jay Sheldon and his partners paid $8 million for a Midwest cable TV company. After a year of profitable operations, they decided to broaden their business. They approached a cable company in a nearby city, planning to offer $11 to $12 million...

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