Skill Bits Collection
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Don’t Talk Down the Deal: Ethical Negotiation Strategies for Buyers
Negotiating a good price is a win, but not at the expense of an ethical approach. “Minimizing” a purchase can backfire.Here’s how to strike a balance and secure a great deal without burning bridges. The “Downplay” Tactic: The Risks: How Sellers Can…
Contracts: More Than Just Legal Agreements, They’re Financial Opportunities
Contracts are the lifeblood of business, but they’re more than just inked promises. They hold immense financial potential, and effective financial management for contracts unlocks that potential. Here’s why it’s a critical component for any business operation: Financial management…
Don’t Be Conquered: Protecting Yourself from “Divide and Conquer” Negotiations
Negotiations are about collaboration, but sometimes the other side might use a tactic called “Divide and Conquer” to weaken your position. This involves breaking the negotiation down and dealing with each party (or issue) separately. Here’s how to spot it and keep…
Don’t Drown in Data: How to Avoid Information Overload in Negotiations
Ever feel like you’re being buried in a paperwork avalanche during negotiations? That might be “information overload,” a tactic where the other side bombards you with data to pressure you into a rushed decision. Here’s how to stay afloat and make informed…
Don’t Let Fatigue Cloud Your Judgment: Protecting Yourself in Negotiations
Negotiations can be stressful, and sometimes the other side might try to take advantage of that. This tactic, exploiting fatigue or weakness, involves pushing for concessions when you’re tired, stressed, or pressured for time. Here’s how to recognize it and protect yourself. The Pressure Play: This tactic…
Don’t Get Played: How to Stop Cherry-Picking in Negotiations
Negotiations should be a fair exchange, not a game of pick-and-choose. Cherry-picking, where someone grabs only the good stuff and leaves you with the scraps, is a tactic that can sabotage a deal and damage relationships. Here’s how to spot it and keep things fair….
Don’t Get Fooled by “Funny Money”: Negotiating Beyond the Price Tag
Negotiations aren’t just about price. The “funny money” tactic throws in non-cash bonuses to make a deal seem sweeter. Here’s how to spot it and land a deal that benefits you. The “Funny Money” Maneuver: This tactic involves offering extras like…
Don’t Get Stuck: How to Defend Against Negotiation Deadlocks
Negotiations can get heated, but what happens when the other side intentionally throws up roadblocks? This tactic, creating deadlocks, aims to pressure you into concessions. Here’s how to spot it and keep the deal moving forward on your terms. The Stalling Game: Deadlock tactics…
Don’t Get Burned: How Suppliers Can Defend Against Reverse Auctions
Reverse auctions are a common procurement strategy, but they can prioritize price over quality, harming both suppliers and buyers in the long run. Here’s how suppliers can navigate these challenges. The Problem: Protect Yourself: Looking Ahead: Suppliers can work together through consortiums…