Mastering Negotiation: Joint Ventures, UN Resolutions, and Reputation in Negotiations

🔑 The owner of the restaurant was hesitant to sell because he enjoyed the control and recognition of being the owner.

💡 The negotiator proposed a joint venture where the owner would maintain autonomy and become the president of the company.

💰 As an incentive to stay, the owner would retain 20% of the stock and receive more payment the longer they stayed.

🔑 Building a mutually satisfying agreement through negotiation.

🙌 Ethics and honesty are valued in negotiation.

📚 Story of Ambassador Keratin and the importance of reputation.

UN resolution 242 was created to resolve the conflict in the Middle East after the 1967 war.

Ambassador Caron faced the challenge of bringing all parties together and overcoming the Soviet Union's resistance.

Despite pressure to postpone the vote, Caron decided to bring the resolution to a vote.

🗳️ Despite the pressure, Ambassador Kerrigan grants Ambassador Kuznetsov's personal favor and postpones the vote by two weeks.

🤝 Ambassador Kuznetsov's personal reputation influences Kerrigan's decision to grant him the favor.

✅ After two weeks, every country votes in favor of UN resolution 242, including the USSR.

⭐ Having a reputation for honesty and fair dealing is crucial in negotiations.

🤝 A good reputation allows for better communication and collaboration with the other party.

💼 A strong reputation is an invaluable asset for long-term success in negotiations.

✅ The key to effective negotiation is becoming a reflective negotiator.

🏊‍♀️ Most people spend too much attention on the outcome, rather than the process of negotiation.

🤝 Negotiating with honesty and fairness produces the best results.

✨ Focus on the process of developing good alternatives and continually improving negotiations.

🏆 Apply the seven principles of negotiation to become champions in the negotiation Olympics.

🌟 Wish the audience success and encouragement to strive for the best in negotiations.