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Negotiation: An A - Z Guide
Stockmarkets have soared and slumped, highlighting the risks of different kinds of investments. Everyone wants to buy low and sell high - and get a healthy stream of income in between. But it is not easy to do so. Any strategy for investment requires an essential level of knowledge that goes beyond the basics. This clear and lively guide explains the complexities and jargon of the investment world with entries that stretch from A to Z and cover such products, concepts and terms as: advance-decline line, arbitrage, bear squeeze, bottom fishing, capital asset pricing model, covariance, dead cat bounce, Dow theory, efficient frontier, equity risk premium, Fibonacci numbers, floating rate note, golden cross, hedge ratio, indifference curve, Japanese candlesticks, Kondratief cycle, mark to market, noise trader, odd-lot theory, portfolio theory, price-to-book ratio, qualitative analysis, Random walk; security analysis, straddle, Tobin's Q, trading collar, unsystematic risk, yield gap, and zero coupon bond. It also includes appendices on the performance of different stock markets over time, bond returns, leading equity markets, investment formulas and recommended reading.
- GenresBusiness
272 pages, Paperback
First published May 7, 2009
14 people are currently reading
82 people want to read
About the author
Gavin Kennedy
64 books26 followersGavin Kennedy was a Scottish economist and founder of Negotiate. He was a leading figure in the world of negotiation and was involved in many high profile consultancy cases for governments and businesses. He was a Professor Emeritus at the University of Edinburgh.
Kennedy studied economics at Strathclyde University, graduating with a BA in 1965 and then studying for an MSc. After taking a Ph.D. at Brunel University in London, he returned to Strathclyde as a senior lecturer in 1973. In 1980 he left Strathclyde for a professorial chair at Heriot-Watt University, and in 1986 he founded a company, Negotiate, to commercialise what he was teaching. He trained thousands of managers in the techniques he had developed.
Kennedy also wrote biographies of William Bligh (1978) and Adam Smith (2005).
In the 1970s, Kennedy became active in the Scottish National Party (SNP). In 1976 he wrote a paper entitled A Defence Budget for Scotland and edited a book of essays entitled The Radical Approach: Papers on an Independent Scotland. In the General Election of 1979 he was the SNP candidate in Edinburgh Central and he subsequently joined the left-wing 79 Group.
Kennedy studied economics at Strathclyde University, graduating with a BA in 1965 and then studying for an MSc. After taking a Ph.D. at Brunel University in London, he returned to Strathclyde as a senior lecturer in 1973. In 1980 he left Strathclyde for a professorial chair at Heriot-Watt University, and in 1986 he founded a company, Negotiate, to commercialise what he was teaching. He trained thousands of managers in the techniques he had developed.
Kennedy also wrote biographies of William Bligh (1978) and Adam Smith (2005).
In the 1970s, Kennedy became active in the Scottish National Party (SNP). In 1976 he wrote a paper entitled A Defence Budget for Scotland and edited a book of essays entitled The Radical Approach: Papers on an Independent Scotland. In the General Election of 1979 he was the SNP candidate in Edinburgh Central and he subsequently joined the left-wing 79 Group.
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Displaying 1 - 4 of 4 reviews
October 22, 2019
Very informative book. You can think of this book as a dictionary (but with more details and samples) for negotiation. Some definitions (or maybe even all) might be familiar to those who studied or are interested in economics as a field of study. The book gives you insights on how to negotiate better as well. In almost every definition, there is kind of an outline to show you what’s the best approach for a specific occasion, do’s and dont’s during negotiations and what to be careful for.
This is the second book that I have read which is published by the journal “Economist”, as before I liked this one as well. There are other publications (some of which I own) which I will read next, and my expectations are high about those too.
“Give me that which I want, and you shall have this which you want” – Adam Smith, 1776 – The resolution of conditional offer is the essential common factor of all negotiations as stated in the introduction of the book. In my opinion, this is the main outcome of the most negotiations, especially when both sides want to win (most of the time, well actually all the time they want to win), and accept the fact that they have to meet in the middle in order to finalize the negotiation on good terms. You should always value your product from negotiators perspective. It doesn’t matter how much value you give to your product (or think how much your product is worth), it matters how much is the opposite side is willing to pay for it.
However, sometimes people face with “It’s my deal or nothing!”. This is not a bargain, it’s an ultimatum, whereas as stated above negotiation is about exchanging conditional propositions (“If you give me some of what I want, then I shall give you some of what you want”). When facing this kind of situation you have to be prepared (1st phase of each negotiation). You have to have leverage in order to maintain your position and push the other side to give in and meet you in the middle (at least). For this, you have to have a constructive approach to each negotiation. Below is the Four-Phase Approach to negotiation as given in the book (with my thoughts about especially the first phase preparation):
Negotiation at root is a process and it is to the process that we look first if we want to improve it.
Put at its simplest, as every process negotiations have a beginning and an end; they start with preparation (1), to various standards. Negotiators have no excuse for entering into discussions with potential clients of which or whom they know nothing. As in every start of a job, a project, a discussion, a sports competition you have to get prepared. Good preparations get the job done, wins you matches, gives you confidence etc. Without good preparation you are dead in the water. Especially when facing someone who is better prepared than you are, then they sense it and they start the negotiation (or any other process for that matter) with the upper hand.
As stated in the book: “The main point to remember is that proper preparation for negotiation “is the hallmark of an effective negotiator” (John Benson). Time spent preparing is never wasted. The unprepared negotiator has no place to hide when across the table from someone who has prepared and is looking into the eyes of someone who hasn’t. No amount of bluster, no past reputation and no excuses justify the behaviour, or lack thereof, of the unprepared negotiator. “
The other three phases are debate or exploration (2), and then a mixture of proposing and bargaining exchanges (3), which terminate either with a deadlock or an agreement (4).
As Cicero, chief “fixer” in ancient Rome, might have put it: Ex praeparato, nil desperandum.
In other words, if you prepare well, you have nothing to worry about.
This is the second book that I have read which is published by the journal “Economist”, as before I liked this one as well. There are other publications (some of which I own) which I will read next, and my expectations are high about those too.
“Give me that which I want, and you shall have this which you want” – Adam Smith, 1776 – The resolution of conditional offer is the essential common factor of all negotiations as stated in the introduction of the book. In my opinion, this is the main outcome of the most negotiations, especially when both sides want to win (most of the time, well actually all the time they want to win), and accept the fact that they have to meet in the middle in order to finalize the negotiation on good terms. You should always value your product from negotiators perspective. It doesn’t matter how much value you give to your product (or think how much your product is worth), it matters how much is the opposite side is willing to pay for it.
However, sometimes people face with “It’s my deal or nothing!”. This is not a bargain, it’s an ultimatum, whereas as stated above negotiation is about exchanging conditional propositions (“If you give me some of what I want, then I shall give you some of what you want”). When facing this kind of situation you have to be prepared (1st phase of each negotiation). You have to have leverage in order to maintain your position and push the other side to give in and meet you in the middle (at least). For this, you have to have a constructive approach to each negotiation. Below is the Four-Phase Approach to negotiation as given in the book (with my thoughts about especially the first phase preparation):
Negotiation at root is a process and it is to the process that we look first if we want to improve it.
Put at its simplest, as every process negotiations have a beginning and an end; they start with preparation (1), to various standards. Negotiators have no excuse for entering into discussions with potential clients of which or whom they know nothing. As in every start of a job, a project, a discussion, a sports competition you have to get prepared. Good preparations get the job done, wins you matches, gives you confidence etc. Without good preparation you are dead in the water. Especially when facing someone who is better prepared than you are, then they sense it and they start the negotiation (or any other process for that matter) with the upper hand.
As stated in the book: “The main point to remember is that proper preparation for negotiation “is the hallmark of an effective negotiator” (John Benson). Time spent preparing is never wasted. The unprepared negotiator has no place to hide when across the table from someone who has prepared and is looking into the eyes of someone who hasn’t. No amount of bluster, no past reputation and no excuses justify the behaviour, or lack thereof, of the unprepared negotiator. “
The other three phases are debate or exploration (2), and then a mixture of proposing and bargaining exchanges (3), which terminate either with a deadlock or an agreement (4).
As Cicero, chief “fixer” in ancient Rome, might have put it: Ex praeparato, nil desperandum.
In other words, if you prepare well, you have nothing to worry about.
March 19, 2023
Excellent guide and good enough that I'll be buying the hard copy for easy reference.
March 20, 2024
It is an A-Z as it says on the tin, but as a result, pretty dull to read but useful as a reference.
February 2, 2025
A gold mine of life skills everyone must have. I've found myself duped (or disadvantaged) in everyday situations just through ignorance of negotiation.
A comprehensive and detailed map of the topic in glossary form, but condensed to the minimum possible and not a tome. The psychology is spot on, neither in excess nor lacking. Insightful.
P.S. The Goodreads description for this book is wrong as it is for a different book. Make the role of librarians open source again, as your "qualified" "experts" produce terrible work
A comprehensive and detailed map of the topic in glossary form, but condensed to the minimum possible and not a tome. The psychology is spot on, neither in excess nor lacking. Insightful.
P.S. The Goodreads description for this book is wrong as it is for a different book. Make the role of librarians open source again, as your "qualified" "experts" produce terrible work
Displaying 1 - 4 of 4 reviews