August 9, 2020

Adam Smith: economist or negotiator?

I have been thinking a great deal about Adam Smith recently as the refurbishment of his final home, Panmure House, comes to a conclusion and Edinburgh Business School prepares to celebrate with a grand opening. Smith’s work on economics has been well documented since he wrote The Wealth of Nations in 1776, but he also […]

Can clever marketing hinder good negotiations?

Someone once said to me that you can only really negotiate when you don’t really need the deal. At the time I dismissed his comment as utter madness, but did he have a point? In the past, when I went to buy something that I really wanted, or needed, I was far more likely to […]

Misunderstandings in Negotiation

Have you ever said something, only for it to be taken completely wrongly? I’ve just had a two-day argument with my husband because he picked up on something I said, took it the wrong way and ended up having a huge row about it! It got me thinking about how important communication is, most especially […]

Five ways to beat ploys

Ploys are used by negotiators all over the world to manipulate the outcome of a deal in their favour. Ploys can come at any stage of the negotiation and we often don’t even notice them (especially if they are played by an expert!). They are dangerous and frankly not the best way to secure a […]

The Negotiation Dance

I was at a conference not long ago and was struck by a comment made by a colleague. She said that she often thought of negotiation as a ballet. It was a beautiful dance when done by an expert but woefully awful when done by an amateur. This got me thinking. It is undoubtedly a […]

Perfection not guaranteed

Is there such a thing as the perfect deal? Is it a myth or is it achievable? If it is achievable, how do we measure it? First we have to define the perfect deal. Does it mean: I’ve done well in the deal? (But this suggests the other side didn’t get much from the deal, […]

The Art of Negotiation: Lessons from the Market

Things are not always what they appear to be. On a recent trip to East Asia I took the opportunity to visit a famous street market. Apart from wonderful street food, the market has a wide range of clothing and accessories that attracts both tourists and locals. One feature struck me. Why were so many […]

Is it ever OK NOT to negotiate?

I have been thinking about this a lot recently. It used to annoy me greatly when my father would go into a car showroom and ask for a new car: ‘What do you have? OK, I’ll take it.’ I couldn’t understand how the greatest negotiator I had known would not bother to even try to […]