Boardroom negotiations can be pivotal moments that can shape the future of companies, influence market dynamics, and impact stakeholders. Whether it's mergers and acquisitions, strategic partnerships, or crucial decision-making, effective negotiations are the key to unlocking mutually beneficial agreements.
In this episode, we discuss negotiations and the power of process with Wayne Harrison. Wayne founded Pathfinders Downunder, a company that provides proven and practical problem-solving know-how to communicate, influence, negotiate and manage conflict. He is also the author of “From Hope to Strategy - The Anatomy of Negotiation.”
Negotiating in the boardroom is an art that requires finesse, strategy, and a deep understanding of the dynamics at play. It is often where the fate of companies can be determined, and the stakes are high.
While many may attribute negotiation success to charismatic leaders or sheer luck, the truth lies in carefully orchestrating a well-designed process that guides the discussions, channels the energy, and ensures fair and effective outcomes.
Join us as we unravel the intricacies of boardroom negotiations and discover how the power of process can transform how we negotiate.
WHAT YOU’LL DISCOVER IN THIS EPISODE:
- The business of reducing anxiety and delivering predictability (02:29)
- When is the right time to enter a negotiation? (06:27)
- Minimising the risks when making negotiations (11:22)
- Strategies for managing re-negotiations (18:06)
- Wayne’s top tips when making re-negotiations (25:52)
- What are the hidden costs of making negotiations (29:22)
Quotes
There is a Science and Methodology to negotiating; being able to remove group think and being able to walk in the shoes of the other party is often the breakthrough needed to co-create value. -Wayne Harrison
The most dangerous negotiation is the one you don't know you’re in. -Wayne Harrison
When we're going to negotiate, let's recognise that there are costs involved, not just outcomes. -Wayne Harrison
A skilled negotiator is not so likely to be visibly arguing and bantering over positions, you're much more likely to see a skilled negotiator negotiating the process, because we understand that it's process choices that determine the negotiation. -Wayne Harrison
