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Firms should know when to 'walk away' from contract negotiations

Exiting a poor deal is a key skill

23 July 2010

Firms should be aware of when to walk away from contract negotiations, it has been claimed.

Rob Enderle, a former contract negotiator at IBM, claimed firms should be able to acknowledge the signs of a poor deal and exit negotiations.

He wrote on itbusinessedge.com: "Beware if the company you are negotiating with is undergoing a massive management change, looks like it might be acquired by an unknown, is financially unstable, is under criminal investigation, or has other elements that, when factored in, make a relationship excessively risky."

Mr Enderle said negotiations are doomed to fail if there is no middle ground as each side will not make any concessions and any agreements will ultimately be broken.

Firms should also end talks if faced with unreasonable demands, while those that make such irrational commands could end up with a damaged reputation.

Furthermore, a lack of integrity and trust can often result in the collapse of negotiations, Mr Enderle added.

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