Written by Sonali Dhandia; MGLUXM (Master in Luxury Brand Management) student. SP Jain School of Global Management – Batch 03.
Topics: Student Life & Experiences, Alumni Stories, Global Luxury Goods & Services Management Program
Written by Chahat Goenka, Masters in Global Luxury Goods & Services Management (MGLuxM) student. SP Jain School of Global Management – Class of 2018.
Topics: Student Life & Experiences, Alumni Stories, Global Luxury Goods & Services Management Program
A growing number of consumers are using smartphones as their primary means of online access today. The digital model that used to take the desktop as the center stage from search engine to social media, video, is now taken over by the mobile platform.
Topics: Thought Leadership, Global Luxury Goods & Services Management Program
Most people have grown up listening to the story of the hare and turtle. It is a fable about a race between two animals who could not have been more mismatched in terms of speed and agility – on one side is a hare which is renowned for being lightning quick on its feet, and on the other side is a turtle, a animal that has the unfortunate distinction of being the slowest animal on four feet.
Most people have grown up listening to the story of the hare and turtle.
A young man, not very interested in the ‘boring, traditional’ family business, decided to strike out on his own and take up a job in a trendy tech company. Now his reasoning was that he would earn only around 25 thousand here, but at least he would be part of a trendy corporate culture, and hang out with the ‘cool’ crowd. So he started work, and with the first salary he got, decided to take his entire family out to dinner. His father had painstakingly built up the family business, and had been dreaming of passing it on to his son, dreams which were now dashed. Nevertheless, he put on a smile and went along, seeing how proud his son was to be taking out his family for a treat, with money that he and he alone had earned.
Topics: Global Family Managed Business, Thought Leadership, Faculty Insights
One of the constant refrains we get to hear from heads of business families nowadays is that there is no ‘fun’ in the business anymore. These gentlemen, typically in their late 40s or 50s, talk nostalgically about the ‘good old days’ when there was easy money, fun, excitement, and a sense of adventure in doing business, which is just not there anymore. Now what do they mean when they say this? They are actually referring to all the problems they are facing in running their business, whether it is ‘recession’, not getting good employees, or clients not paying up on time etc.
One very important parameter of negotiation is psychology. Whenever two sides negotiate, it is never two individuals, and never two organizations, but always two psychologies. The psychological mindset of an individual is extremely important in a negotiation.
One of the biggest confusing words, along with Negotiation, is Bargaining. Some authors have defined bargaining as being synonymous with negotiation. However, I always tell my GFMB class at SP Jain how bargaining is very different from negotiation.
As a negotiator, I am sure you would have always thought that the outcome of every deal should be in your favour. Well, there is nothing wrong to think that way, but there is a gap between expectation and reality.
