Renegotiating in the midst of the coronavirus

As Indiana begins the process of reopening its economy, there are no doubt plenty of contracts you may need to renegotiate. Maybe it’s a lease for your space or a vendor in your supply chain. Maybe it’s a contract with a customer.

Those negotiations aren’t easy. That’s why we asked Charlotte Westerhaus-Renfrow—an assistant professor of law and management at the IU Kelley School of Business—to help us figure out the best way to navigate them.

She talks about techniques like “slicing the salami” and “taking it to the balcony,” and she tell us why Zoom and other video conferencing tools are a great way to negotiate. The key, she says, is knowing what you truly need and what the other side needs as well.

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IBJ's Beyond COVID podcast is brought to you by James Allen Insurance.

 

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Music for IBJ's Beyond COVID podcast is by Septahelix and is licensed to the public under http://creativecommons.org/licenses/by/3.0/.