Project Management Investigate

Closing The Deal In Negotiations: Avoid Rushing In

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Executive Summary

Closing a deal can be 'Extremely hard', says INSEAD Affiliate Professor of Decision Sciences Horacio Falcao, because it's the conclusion of the whole negotiating process. If something's gone wrong and hasn't been picked up by that point, the person you're negotiating with will "probably err on the side of 'No' rather than 'Yes'." Falcao says many people focus on getting a result and so rush through the negotiation process. To use a metaphor, he says, imagine someone wants to build a house by just throwing pieces of wood and nails together.

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