Among the tried and true contract negotiation strategies, shifting risk is probably among the most ubiquitous and actively used—and best-rewarded when successfully accomplished. , mainly because it typically happens after you have a “deal.” Have you ever heard this: “Great! I’ll take it. How about 90 day payment terms?” or “Perfect…how about a two-year warranty instead of a one-year warranty?” For […]
Drop that Grudge
There’s nothing positive about holding a grudge, especially in the business world because grudges produce negative feelings and results. Seth Godin, in a recent post, rightly put it this way: Whatever is causing the grudge, he continues, whether it is competition, technology or what someone said or did years ago, “none of it is going […]
In This Case the Mask is Way Better
Congratulations to the Chicago Blackhawks and their thrilling Stanley Cup victory last week, their third in six years. It made me think of a great story that Robert Martichenko, CEO of LeanCor, told me recently about hockey masks and the history and evolution of the goalie mask. Not so long ago it was considered a […]
Incentives: Use Outcomes to Determine the Framework
Ever wonder why parachutes never fail or why there aren’t any incompetent fugo (pufferfish) sushi chefs? Oliver Payne, writing in the UK’s The Hunting Dynasty, a behavioral insight and communication agency, has one word for this—incentives. Of course further explanation is necessary. On parachutes and a 100 percent success rate, Payne—the author of Inspiring Sustainable […]
The Changing Process of Invention
A recent Economist article explores how process of invention is changing. Think back in time. Invention used to be more singular and more “heroic.” Inventors such as Stephenson, Morse and Goodyear were the “shock troops” of the Industrial Revolution, helping to bring “humanity from agrarian poverty to manufactured plenty. These days, though, inventor-superstars, while not absent, are fewer […]
Thanks to John Nash and Playing Nice
I’ve written frequently over the years about the Nobel laureate and brilliant mathematician John Nash, who died with his wife Alicia when their taxi lost control Saturday on the New Jersey Turnpike. And rightly so, because his groundbreaking work in game theory and his Nash equilibrium (along with differential geometry, and partial differential equations) provides deep insight into the factors that govern […]
Golden Balls: Taking Advantage of Tit-for-Tat
A few years back I shared a clip from a popular British game show, Golden Balls, which illustrates in an entertaining way game theory and the prisoner’s dilemma. Today I want to share another clip from the same show to explore another aspect of game theory: tit-for-tat. Tit-for-tat is a common term used in game theory. The concept […]
Trust is a Two-Way Street
Trust fosters credibility and an environment of communication and integrity.
Be the Good Partner
Recently I came across a quote attributed to Eleanor Roosevelt, “If you want a good spouse, then be one.” So true! And it is even more appropriate in our business relationships: If you want to have a good, strategic business partner then show the way by being one yourself. This is easy to say, especially when […]
Blamestorming for Positive Results
We’ve all done our fair share of brainstorming, but have you ever engaged in a robust round of “blamestorming”? Believe it or not there is an art to blamestorming and it’s not what you might think it is, and also not exactly how it’s defined in, for instance, the Urban Dictionary: “Sitting around in a […]
