Transcript ppt

AGL 20 NEGOTIATION
SUMMARY LECTURE - PART I
ure.
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11.1 COURSE OBJECTIVES
• The program provides members with the opportunity to use negotiation
concepts, terms, techniques and skills and become more complete
managers.
•
• The specific learning objectives are to:
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• a.
To analyze negotiation process to achieve goals exceeding BATNA
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• b.
To evaluate the impact of culture on negotiation.
• c.
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• d.
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• e.
To practice international negotiation communication skills.
To develop skills in achieving negotiation strategy.
To motivate further study in the fut
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11.2
NEGOTIATION
• The negotiation process includes: planning re-negotiation, initiating
first moves, making the first moves, negotiating prices, closing
business negotiation and undertaking renegotiation.
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• The key objective is to achieve win-win goals for both parties which
establish trust for short and long term relationships.
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• BATNA - Best AlternaTive with No Agreement. Available alternative
when negotiation fails. Close the deal or walk away to BATNA.
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• BATNA affects: cash, culture, deadlines, interests, knowledge, and
the experience of both parties. Assess your BATNA at the outset
and estimate the opposing BATNA.
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11.2 NEGOTIATION
• Negotiation environment includes such complex
factors as: instability and change, government control
and policy, foreign exchange fluctuation, political and
legal change, external stockholders and parties,
ideological and cultural differences.
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• The negotiation setting may includes: levels of conflict
underlying potential negotiations, relationships before
and during negotiation, desired outcomes, stockholder
impacts, relative bargaining power and dependence
and finally the negotiation style.
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11.3 PLANNING
• Negotiation begins with research and prenegotiation planning with each party g with a
different goal and hopes to achieve it. Thus
there is need for clarification, comprehension and
credibility, in order to create mutual values.
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• As negotiation continues the parties reach
convergence of view with discussion, leading to
concessions, counter proposals and commitment.
The final stage is conclusion.
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11.4
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INITIATING
Making the first moved is critical, because the first impressions are difficult to
change. An initial first competitive offer should meet the context of the
surrounding discussion and must be defended with valid arguments.
In competitive markets a higher initial offer may be lowered. In traditional less
competitive markets, offers on the high side with concessions may be more
acceptable.
The initial offer should be confident and yet flexible to enable the negotiator to
learn other party objectives and reformulate to meet specific needs. The initial
negotiation phase, is the opportunity to create trust and exchange strategic in
formation, not the time to make concessions.
In the initial phase, the buyer keeps his goals in mind and is ready to say no and
refer to competition. He may later seek concessions or a better offer or may ask if
the proposal can be adapted achieve his needs.
Thus is stage reflective cooperation.
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11. 5 PRICE NEGOTIATION
• Price determines the total revenue and profitability of the
business by considering: objective, cost, competition, customer
and government regulations.
• Price negotiations may follow a cost or market approach.
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• The cost approach computes relevant costs and adds markup to
determine price. The market approach examines price setting
from the customer’s and competitor’s viewpoint.
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• Need to highlight the business and product attributes, maintain
flexibility and differentiate from the competition. At closing
reliability, reputation and financial stability may be critical.
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11.6 CROSS BORDER CULTURES
• Cross cultural negotiations may involve culture
emotionally based upon traditions, etiquette. It may
relate to group behavior or just to the chosen
negotiator parties as freely choose to behave.
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• Protocols involve dress and behavior deal with
greetings, formalities, touching, eye contact, emotions,
silence, eating, body language, and punctuality etc.
Need to know the key players well and the informal
cultural influences on the process.
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11.6 CROSS BORDER CULTURES
• Cross cultural negotiations may involve culture
emotionally based upon traditions, etiquette. It may
relate to group behavior or just to the chosen
negotiator parties as freely choose to behave.
•
• Protocols involve dress and behavior deal with
greetings, formalities, touching, eye contact, emotions,
silence, eating, body language, and punctuality etc.
Need to know the key players well and the informal
cultural influences on the process.
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11.7 SELECTING NEGOTIATING STYLE
• Know your personal style and the style of the
other party. Adjust to match, and ensure
smooth negotiations.
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• Define the style as influenced by task or
relationship orientation, which directly relates
to cultural values.
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11.8 PRE-NEGOTIATION PLANNING
• In any negotiation the actual interface between the two parties is only one
phase.
• The critical element is the research and planning for the preparatory
stage, which must never be neglected.
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• Experienced negotiators may sometimes be over prepared but should
never be under prepared. With particular strengths and weaknesses, the
party that is more committed works harder for its goals, and can always
can achieve the best results.
• Preparation is the best negotiation investment!
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• Pre-negotiation planning requires defining the issues, knowing the other
side position, knowing the competition and the especially
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11.9 MANAGEMENT OF CONCESSIONS
• Study Exhibit C which provides practicalguidance on achieving success on concessions,
in complex negotiation environments
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11.10 LEARN FROM CASE EXPERIENCE
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MULTIMODE:
Need for quickly establishing trust with a cooperative strategy.
Acceptance of the other party’s interests, objectives and limitations
Recognition of value differences.
Define conflict areas.
Creative search for seven alternatives for every key issue.
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11.10 LEARN FROM CASE EXPERIENCE
• MULTIMODE:
• Priority for fairness in long term relationships.
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• Identifying the constraints on each party for future working
in the company with the tough CEO
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• Need for KSA in negotiation to achieve more than BATNA
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• Personal reputation and status are critical factors in
implementing negotiated agreements.
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11.10 LEARN FROM CASE EXPERIENCE
• QUICK DRY PAINT:
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Need to know about the legal complexities of Mexico and the risk of
corruption and loss of patents.
Need to be able to check on the specific actions of the licensee.
Who will own improvements in reality?
In LA, will licensing outcome depends more on trust which
takes more time, than legal issues.
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11.10 LEARN FROM CASE EXPERIENCE
• QUICK DRY PAINT
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Who will bear foreign exchange risk?
Dispute resolution with an agreed arbitrator able to implement
his decisions.
Poor outcome of possible litigation in Mexico or USA
Lack of experience in international licensing creates high risk. If no
agreement … then BATNA is best.
RESULT – Deal made!!!
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11.11 Negotiation Analysis
• The questions to analyze in a negotiation are:
What is the BATNA of each party, with no
agreement?
• Who are the real Parties in the negotiation?
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What are the critical Interests of each party?
How to create value for both parties?
What Barriers must be overcome to achieve agreement?
How can Power influence the process?
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11.11 Negotiation Analysis
• What are ethical things to do?
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• But rigorous negotiation analysis is necessary but not enough.
• Negotiation also needs: implementation strategy, ability to listen,
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persuasion, positive attitudes, patience and humour.
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• Negotiation is an interactive process, directly related to attitude and
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creativity that needs to encourages cooperative behavior
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from the people with whom we deal.
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11.12
OVERALL
• The six P’s of effective negotiation are : Parties,
Process, Power, Product, Problem and Prognosis
(outcome).
• The key objective is achieving a long term relationship
of trust for mutual benefit and a “win-win” outcome.
The BATNA is an alternative for a failed negotiation.
• So much depends upon the negotiation: environment,
process and the setting, which can be managed!!
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11.12
OVERALL
• Business success in negotiation may well depend
upon: knowing your product, customer and
competition; effective business decision making;
finding your market niche.
• Quality products; creative diversity; finding
expanding markets; network contacts; trust and
honesty; control of cash, outcomes and risk;
diffusing tension; customer loyalty; creativity
and overall … on your skills of negotiation
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11.12
OVERALL
• So many things to learn … now … including
Exhibit A on Protocols and deportment and
Exhibit B Practical Advice and Exhibit C
Managing Concessions
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EXHIBIT A - PROTOCOLS
• Try hard to avoid making obvious mistakes with different
nationalities:
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• English - definite and polite with proper protocol and etiquette.
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• French - expecting others to behave as if in France, conducting
business, with the French language
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• German - protocol important. Conservative dress and posture with
manner expected. Seriousness of purpose and appropriate dress.
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• Swedish - formal relationships without price disputes. Expect
complete professional proposals without errors and of high quality.
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EXHIBIT A - PROTOCOLS
• Italians - extremely hospitable and volatile. Make points
with dramatic gestures and emotional expression.
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• Japanese - may spend days or weeks creating a friendly,
trusting atmosphere before discussing any business at all.
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• Chinese - follow fixed protocol in negotiation, always
preceded by small. Opposed to touching. Greeting with
short bow and very brief handshake.
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• Indians - formal business with polite relaxed manner.
Connections are the key to trust. Always request
permission before entering, sitting or smoking.
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EXHIBIT A - PROTOCOLS
• Mexicans - practice negotiation with heavy emotion .
Drama more important than logic. Negotiators often
selected for skills in dramatic and distinguished
performances.
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• Brazilians - negotiating process valued more than the
actual result. Discussions lively, heated, eloquent, and
witty. Great hospitality to establish comfortable social
climate.
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• Russians – Tend to distrust business managers.
Extremely cautious when dealing with new parties.
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EXHIBIT B – PRACTICAL ADVICE
• a. Risk averse negotiators are sometimes desperate to
avoid risk and may take a quick first offer.
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• b. The target point is the point at which a negotiator would
like to conclude negotiations; it is not the negotiator's
bottom line;, not the first offer a negotiator quotes to his
opponent; not the initial price set by the seller.
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• c. Both tangible and intangibles factors can be the most
powerful in any negotiation. f. Highly individualized
(idiosyncratic) deals are much more common today, and
they are not reserved only for a special few.
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EXHIBIT B – PRACTICAL ADVICE
• d. “Coordinate (cooperative) adjustment””,
involves, making conscious changes to your
approach to be more appealing to the other
party.
• e. Both parties making mutual adjustments to
find a common process for negotiation; crafting
an approach that is specifically designed to
achieve success in the negotiation situation
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EXHIBIT B – PRACTICAL ADVICE
• f. Multiparty negotiations differ from two-party
deliberations in so many ways; more negotiators at the
table; more issues and more information introduced;
environmental changes from one-on-one dialogue to
small group discussion.
• g. The parties approach multiple issues
simultaneously; tend to achieve lower quality
agreements; increase the likelihood of achieving some
agreement; and yet exchange less information and
have less insight into the preferences and priorities of
all the other parties at the table.
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EXHIBIT B – PRACTICAL ADVICE
• f. Reputation in negotiation is a perceptual
identity; a reflective of the combination of
personal characteristics; demonstrated
behaviour. All of these define reputation.
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• g. The perceptual process involves a special
order: stimulus, attention, recognition,
translation, behaviour. Visibility is important as
it involves centrality or criticality in negotiation
network structures.
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EXHIBIT B – PRACTICAL ADVICE
• h. Hardball tactics are designed to be used primarily
against powerful negotiators; to clarify ;to a
distributive (zero-sum) bargaining approach and to
pressure d parties to do things they would not
otherwise do..
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• i. Frames are important in negotiation because
disputes are often nebulous and open to different
interpretations. Frames do not allow parties to develop
separate definitions of the issues; frames can not be
avoided; frames do not allow negotiators to articulate
just one aspect of a complex social situation
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EXHIBIT B – PRACTICAL ADVICE
j. The most dominant cause of breakdowns and
failures in negotiation are distortions in
perception, feedback, and behaviors; it is not
just meaning or cognition.
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EXHIBIT C MANAGING CONCESSIONS
• Plan concessions in advance, concentrating on the other party’s
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underlying interests.
• Provide sufficient margins particularly in cultures that are
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extremely demanding.
• Set aside a few concessions in reserve to be used when concluding
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the deal.
• Trade small concessions early on to encourage the other party to
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share information and to promote trust.
• Insist on obtaining immediate reciprocity after making a
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concession (future promises lose value over time).
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EXHIBIT C MANAGING CONCESSIONS
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Determine, the real value of the concessions and what other party
is willing to pay for
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Remember that 80% of the concessions are traded in the 20%
remaining time.
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Have the party work hard in obtaining concessions to be
appreciated as well as encouraging the other party to reciprocate
generously
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Provide justification/benefits for each concession to enhance its
value.
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Keep a few nontangible concessions, including symbolic ones to
break a deadlock or to conclude.
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Observe the other party's body language to detect hidden motives.
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EXHIBIT C MANAGING CONCESSIONS
• Take into consideration that negotiators from
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different cultures concede differently
• Be aware that how you concede is just as
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important as what you concede.
• Trade concessions in fewer and fewer amounts
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requiring the -other party to spend more and
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more time and effort.
• Manage time efficiently by concentrating on key
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issues.
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EXHIBIT C MANAGING CONCESSIONS
• Know the competition to resist giving away
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unnecessary concessions.
• Be aware of false concessions.
• Build trust; otherwise reciprocity is not
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adhered to.
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11.13 LEARNING PATTERNS - REVIEW
Six P’s of effective
negotiation
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11.13 LEARNING PATTERNS - REVIEW
•Parties
• Process
•
Power
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11.13 LEARNING PATTERNS - REVIEW
• Product
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Problem
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Prognosis
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(outcome)
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11.14 INSTRUCTIONS (20 minutes)
Reassemble in SG
Review the Summary Lecture for Part I
Discuss questions arising
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11.14 INSTRUCTIONS (20 minutes)
• Get the best out of Part II of the program, complete
ALL of homework tonight:
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• Study the course text book: Practical Solutions to
Global
• Business Negotiations (Cellich & Jain) - Chapter 1 and
• explore the contents of the book for future study.
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• Study again the AGL Summary Lecture Part 1 and
Glossary in the Diary.
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11.14 INSTRUCTIONS (20 minutes)
• Review the HBS Article (Investment Analysis).
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• Very briefly review the two new cases: Quick Drying Paint
• and GE (handouts).
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• Review your notes for Part I of the course and list
outstanding
• questions to be resolved in Part II
• Be sure to return the Workpack to the organizer now.
• You have all you need in the Diary.
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END
END OF SUMMARY LECTURE 1
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3. SUMMARY LECTURE - 2
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12.1 COURSE OBJECTIVES
• The program provides members with the opportunity to use negotiation
concepts, techniques and skills so that they become more complete
managers.
•
• The specific learning objectives are to:
•
• To analyze negotiation process to achieve goals exceeding BATNA
•
• To evaluate the impact of culture on negotiation.
•
• To practice international negotiation communication skills.
•
• To develop skills in achieving negotiation strategy .
•
• To motivate further study in the future.
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12.2 NEGOTIATION
• The key objective is to achieve the goal exceeding BATNA. Helped during
talks, when effective relationship negotiators focus on a variety of noncontractual issues, including:
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• Getting to know the other side well.
• Establishing a positive personal chemistry between the leadership of the
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companies involved.
• Understanding and respecting each other’s cultures, expectations, and
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goals. Putting mechanisms in place to foster communication after the
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contract is signed.
• Ensuring that the proposed deal is balanced and advantageous for both
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sides.
• Identifying and planning for potential obstacles to implementation.
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12.3 COMMUNICATION
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The exchange of messages between people to may achieve common meaning,
in three forms:
– Instrumental/goal directed communication - where the sender seeks
to achieve specific effects in the receiver - most important in work. Such
deliberate communication is "transmitted".
– Expressive communication - where an emotional state (e.g. joy or anger)
or a motivational state (e.g. enthusiasm or frustration) is
spontaneously "emitted"
– Incidental and often un-conscious communication where the sender
"imparts" information to others without intending to.
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12.3 COMMUNICATION
• Be prepared for a practical reality “face to face" communication, as
information may transmitted as follows:
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10% - in words
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50% - in facial expressions
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40% - in vocal intonation and inflection.
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• Thus words themselves or the "rational component", may convey
only about 10% of the communication message. 90% of each
message depends on the "emotional feelings content", whether we
are aware of it or not!
• Communication is helped by words and feelings.
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12.4 INTER-GROUP BEHAVIOR
• In negotiation between groups, to survive and be effective, a group must
work through differences with other groups.
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• Inter-group relationships are fostered by the norm of reciprocity ie.
exchange of favors - like a human resource bank account. Communication
can fail when a group refuses to provide favors for another.
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• Older more inflexible individuals and groups tend to become resistant to
change. Such groups are "frozen". Frozen groups, contrast with dynamic
groups that are more able to change.
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• People who perceive their established positions, status, security, privileges
etc. to be threatened by change will resist it more strongly.
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12.5
NEGOTIATION CONCEPTS
• Everything is negotiable with the tools of: time, power and
information and with a "win/win" style of negotiation.
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• Win/lose negotiation styles do not support long term
cooperation, Successful win/win negotiation lies in finding
out what the other side "really" wants and showing them
the way to get it while we get what we want.
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• Most needs can be satisfied by the way we act and behave,
when the goal is mutual satisfaction (but we must avoid
"nibbles" - asking for extras AFTER a deal!).
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12.6 COMMUNICATION AND
NEGOTIATION SKILLS FROM A-Z
• Study the ideas in Exhibit A and recognize the
ones which you have already learned.
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12.7 PRACTICAL THINGS NOT TO DO
IN NEGOTIATION
Study the ideas in Exhibit B and recognize the
ones which you have already learned.
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12.8 LEARN FROM EVERY CASE
EXPERIENCE
• QUICK DRYING PAINT CASE:
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Clarify the different roles in licensing
Recognize the complexity of licensing and the risk of patent loss.
Define what the licensor must be sure to do
Decide on the ownership of improvements
Forecast outcomes with specific clauses and controls
Decide who bears foreign exchange risk
Provide for dispute resolution with an agreed arbitrator
Be realistic on possible outcome of litigation in Mexico or USA
Recognize the possible unequal parties in licensing
With no agreement back to BATNA
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12.8 LEARN FROM EVERY CASE
EXPERIENCE
• GE CASE:
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Contrast of cultural values.
Possible joint venture despite highly different objectives.
Several other alternatives available
Why is tit that negotiations fail
How to ensure fulfillment of Asian contracts
Taking two years of meetings to agree a relationship
Cross cultural behaviours and endeavours
Nature of the win-win deal
Need to accept and structure re-negotiation
With trust for a long term potential together
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12.9 OVERALL
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• SWOT and KSA to achieve a goal exceeding BATNA.
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• The six Harvard P’s of effective negotiation are : Parties,
Process,
• Power, Product, Problem and Prognosis (outcome).
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• The key negotiation objective is achieving a long term
relationship of trust for mutual benefit and a “win-win”
outcome.
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• The BATNA is an alternative for a failed negotiation.
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12.9 OVERALL
• So much in negotiation will depend upon you
managing: environment, process and the setting,
Now you can do it …!!!
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• On we go together … when you have time … be
sure to study section 4.0 Cultural Challenges …
and you will find that you have absorbed the
answer to each case instinctively after 2 days of
AGL interaction … negotiation instincts … worth a
million?
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EXHIBIT A - COMMUNICATION AND
NEGOTIATION SKILLS A-Z
A.
"ACTIVE LISTENING" is the key to good communication!
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• B. Use outside consultants skilfully as "organizational
symbols" who "take the BLAME" for necessary changes that
MUST be introduced.
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• C. The objective of communication is to ensure that
expectations and reactions are CONGRUENT.
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EXHIBIT A - COMMUNICATION AND
NEGOTIATION SKILLS A-Z
• D. Appreciate cultural DIFFERENCES. Many messages mean
different things with different emotional consequences in
different cultures!!
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• E. EMPATHIZE with the receiver/sender.
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EXHIBIT A - COMMUNICATION AND
NEGOTIATION SKILLS A-Z
F. Seek continual FEEDBACK. Listen actively and accept, use
and reward contributions from colleagues.
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G. GO for: trustworthiness, trust, empowerment and
alignment. which build commitment and promote effective
communication and delegation.
H. Seek assistance from others who may be HELPFUL prior
to communicating - ignoring them may be an insult!!
I.
Clarify IDEAS before communicating them.
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EXHIBIT A - COMMUNICATION AND
NEGOTIATION SKILLS A-Z
• J. Recognize PREJUDICE (sexual/racial/national/religious/age ...
oneself too!) ... is everywhere ... and communicate accordingly.
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• K. Sometimes we all need a little KITA to improve our efficiency
(doing things right) and effectiveness (doing the right things).
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• L. Accept that personal needs and survival are everybody's
normal first priority regardless of what they say. Look for the four
"L's" : living, loving, learning and legacy.
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• M. Consistent MEANING - don't keep changing your message.
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EXHIBIT A - COMMUNICATION AND
NEGOTIATION SKILLS A-Z
• N. Recognize the cultural NORMS of the environment within
which you communicate.
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• O. Examine your OBJECTIVES and expectations for each
communication (facts? attitudes? feelings?)
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• P. PRACTICE what you preach because people judge you by your
"action communication" (80%) not merely your "word
communication" (20%).
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• Q. Recognize that failure to use "politically correct" terminology
could lead to significant adverse reactions.
•
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EXHIBIT A - COMMUNICATION AND
NEGOTIATION SKILLS A-Z
• R. Good communication needs a "RELATIONSHIP" - to make it
with a foreign speaker - make the effort to learn some of her/his
language - even though you may work together in English.
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• S. Recognize that people are committed to change only in terms
of their own personal SAFETY systems.
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• T. Remember that it is not only what you say but how you say it
("TONE") that determines the real effect of communication.
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• U. Remember that to be a successful manager and communicator
it is just as necessary for you to UNDERSTAND other people's point
of view, as it is for them to understand yours.
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EXHIBIT A - COMMUNICATION AND
NEGOTIATION SKILLS A-Z
• V. Seek organizational culture not by complete control or
complete freedom but by the third domain of interdependent
commitment expressed in meaningful mission statements that
respond to the needs and VALUES of all of the stakeholders.
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• W. Be very creative (brain storm) in seeking "WIN-WIN" solutions,
by seeking out the magic "seven" alternatives for every problem.
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• X. And remember that every Napoleon theory (X) always
perceives himself/herself to be a tolerant, benevolent, participative
theory (Y) manager ...!!!
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EXHIBIT A - COMMUNICATION AND
NEGOTIATION SKILLS A-Z
• Y. Recognize that when a manager says she/he
is "LOYAL" to the company", she/he is really
saying "my personal needs are being satisfied by
this organization and therefore I want it to
survive".
•
• Z. "Starters" achieve effective change but don't
hesitate to replace them with "Runners" when
the time comes.
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EXHIBIT B - PRACTICAL THINGS NOT
TO
DO
IN
NEGOTIATION
•
• Study the ideas in Exhibit B and recognize the ones which you have
already learned after two whole days of AGL effort.
•
• So please do not:
•
• Confuse cost and value.
• Accept concessions too easily.
• Be the first to make concessions on key issues.
• Offer a large concession early in the discussions, as it encourages
• the other party to ask for more.
• Give away important concessions under time pressure.
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EXHIBIT B - PRACTICAL THINGS NOT
TO DO IN NEGOTIATION
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Show too much enthusiasm when accepting
concessions (winners curse)
Accept future promises in exchange for valuable
concessions.
Assume that the other party values concessions
the same way as you do.
Suppose that the other party has similar
priorities, needs, goals, and motivation.
Trade concessions without first creating value
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EXHIBIT B - PRACTICAL THINGS NOT
TO DO IN NEGOTIATION
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Make concessions that affect the bottom line
negatively.
Claim value before creating value.
Be arrogant when refusing a concession.
Adopt a concession strategy that can be easily
detected by the other party.
Make quick decisions under time pressure.
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EXHIBIT B - PRACTICAL THINGS NOT
TO DO IN NEGOTIATION
• Give away information to the other party
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without reciprocity.
• Negotiate against yourself.
• Rush into concessions to satisfy the other
party.
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LEARNING PATTERNS – REVIEW
Six P’s of effective negotiation
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Parties
Process
Power
Product
Problem
Prognosis
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FINAL NOTE
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• This ends our AGL program; one of a six part series:
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AGL 1 - Finance for Non-Financial Managers
AGL 2 - Cost Control
AGL 3 - Planning and Budgetary Control
AGL 4 - Capital Investment Analysis
AGL 10 - Management of Working Capital
AGL 20 - Negotiation
We hope it has inspired you to develop your skills by practical application. You are now ready to study the course text book which is excellent:
Practical Solutions to Global Business Negotiations
(Cellich & Jain)
•
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FINAL NOTE
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Thank you for your interest and hard work. Keep the glossary handy as a daily
reference for finance and other negotiations. Follow up by doing sections 5, 6, 7
and 8 of eh Diary and giving feedback after the course.
We hope that you have much enjoyed the AGL experience and that it motivates
you to read widely in finance and accounting and to continue your studies in the
future. We suggest the The Economist weekly and the WSJ (Wall Street Journal)
every morning - as good as an MBA!!!
Be sure to reinforce your learning with the all the activities set out in the Diary
and with the LRT (Learning Recall Tape) routine, as explained by the organizer.
•
•
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FINAL NOTE
• In the month following completion of the program. Please send us
the Final Feedback Summary on day 28.
•
• We trust that you have found AGL to be both "efficient" (doing
things right) and "effective" (doing the right things).
•
• Thank you for being a member of the program.
•
• RGAB
• [email protected]
• www.crelearning.com
•
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END
End of Summary Lecture 2
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