Deal-makers who are stuck on the traditional path define success as concluding a transaction at the cheapest possible acquisition cost. This approach takes only two variables into account:
price and quantity. Haggling for the cheapest price is really not negotiation at all, according to Jensen’s way of thinking. He suggests these people are not really aware of the process
that can yield a mutually beneficial result, enhancing the value of the take-away for both parties. Haggling for the deepest discount eliminates the magic ingredients that expand the room
to negotiate and, consequently, the range of variables the delegates have to work with in order to make the pie bigger. The magic ingredients are trust and cooperation.
Jensen shows negotiating parties to:
1. Operate from a position of trust, committed to the discovery of mutual gain
2. Bargain constructively, using transparent, two-way communication
3. Leverage the differences between the parties
4. Cooperate to reduce risk and improve the utilization of resources
