Michael Klug AM is recognised as one of Australia’s best-known practitioners and teachers in negotiation skills, conflict management and ADR. The Golden Rules of Negotiation, which have been written, observed, and extracted by Michael, form the basis of his negotiation programs. We thank Michael for generously presenting for the TMA on 8 July. Key takeaways from Michael’s session: - The overarching objective of a negotiation is to create value; - Be aggressive with the starting point. The starting point has more to do with the ultimate outcome of negotiation than any other factor; - Go slow to go fast. Never allow the other party to rush through an agreement. A good negotiation will take up all of the entire allocated time so take the opportunity to use break away rooms and think about the offer. - Work out your “NDO” (no deal option) and do not accept anything that is worse than your NDO.
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