agl20sl

7/30/2019 agl20sl

1/71

AGL 20 NEGOTIATION

SUMMARY LECTURE - PART I

ure.

1

7/30/2019 agl20sl

2/71

11.1 COURSE OBJECTIVES

The program provides members with the opportunity to use negotiationconcepts, terms, techniques and skills and become more completemanagers.

The specific learning objectives are to:

a. To analyze negotiation process to achieve goals exceeding BATNA

b. To evaluate the impact of culture on negotiation.

c. To practice international negotiation communication skills.

d. To develop skills in achieving negotiation strategy.

e. To motivate further study in the fut

2

7/30/2019 agl20sl

3/71

11.2 NEGOTIATION

The negotiation process includes: planning re-negotiation, initiatingfirst moves, making the first moves, negotiating prices, closingbusiness negotiation and undertaking renegotiation.

The key objective is to achieve win-win goals for both parties which

establish trust for short and long term relationships.

BATNA - Best AlternaTive with No Agreement. Available alternativewhen negotiation fails. Close the deal or walk away to BATNA.

BATNA affects: cash, culture, deadlines, interests, knowledge, andthe experience of both parties. Assess your BATNA at the outsetand estimate the opposing BATNA.

3

7/30/2019 agl20sl

4/71

11.2 NEGOTIATION

Negotiation environment includes such complexfactors as: instability and change, government controland policy, foreign exchange fluctuation, political andlegal change, external stockholders and parties,

ideological and cultural differences.

The negotiation setting may includes: levels of conflictunderlying potential negotiations, relationships beforeand during negotiation, desired outcomes, stockholderimpacts, relative bargaining power and dependenceand finally the negotiation style.

4

7/30/2019 agl20sl

5/71

11.3 PLANNING Negotiation begins with research and pre-

negotiation planning with each party g with adifferent goal and hopes to achieve it. Thus

there is need for clarification, comprehension andcredibility, in order to create mutual values.

As negotiation continues the parties reach

convergence of view with discussion, leading toconcessions, counter proposals and commitment.The final stage is conclusion.

5

7/30/2019 agl20sl

6/71

11.4 INITIATING

Making the first moved is critical, because the first impressions are difficult tochange. An initial first competitive offer should meet the context of thesurrounding discussion and must be defended with valid arguments.

In competitive markets a higher initial offer may be lowered. In traditional lesscompetitive markets, offers on the high side with concessions may be more

acceptable.

The initial offer should be confident and yet flexible to enable the negotiator tolearn other party objectives and reformulate to meet specific needs. The initialnegotiation phase, is the opportunity to create trust and exchange strategic information, not the time to make concessions.

In the initial phase, the buyer keeps his goals in mind and is ready to say no andrefer to competition. He may later seek concessions or a better offer or may ask ifthe proposal can be adapted achieve his needs.

Thus is stage reflective cooperation.

6

7/30/2019 agl20sl

7/71

11. 5 PRICE NEGOTIATION Price determines the total revenue and profitability of the

business by considering: objective, cost, competition, customerand government regulations.

Price negotiations may follow a cost or market approach.

The cost approach computes relevant costs and adds markup todetermine price. The market approach examines price settingfrom the customers and competitors viewpoint.

Need to highlight the business and product attributes, maintainflexibility and differentiate from the competition. At closingreliability, reputation and financial stability may be critical.

7

7/30/2019 agl20sl

8/71

11.6 CROSS BORDER CULTURES

Cross cultural negotiations may involve cultureemotionally based upon traditions, etiquette. It mayrelate to group behavior or just to the chosennegotiator parties as freely choose to behave.

Protocols involve dress and behavior deal withgreetings, formalities, touching, eye contact, emotions,silence, eating, body language, and punctuality etc.

Need to know the key players well and the informalcultural influences on the process.

8

7/30/2019 agl20sl

9/71

11.6 CROSS BORDER CULTURES

Cross cultural negotiations may involve cultureemotionally based upon traditions, etiquette. It mayrelate to group behavior or just to the chosennegotiator parties as freely choose to behave.

Protocols involve dress and behavior deal withgreetings, formalities, touching, eye contact, emotions,silence, eating, body language, and punctuality etc.

Need to know the key players well and the informalcultural influences on the process.

9

7/30/2019 agl20sl

10/71

11.7 SELECTING NEGOTIATING STYLE

Know your personal style and the style of the

other party. Adjust to match, and ensure

smooth negotiations.

Define the style as influenced by task or

relationship orientation, which directly relates

to cultural values.

10

7/30/2019 agl20sl

11/71

11.8 PRE-NEGOTIATION PLANNING In any negotiation the actual interface between the two parties is only one

phase.

The critical element is the research and planning for the preparatorystage, which must never be neglected.

Experienced negotiators may sometimes be over prepared but should

never be under prepared. With particular strengths and weaknesses, theparty that is more committed works harder for its goals, and can alwayscan achieve the best results.

Preparation is the best negotiation investment!

Pre-negotiation planning requires defining the issues, knowing the otherside position, knowing the competition and the especially

11

7/30/2019 agl20sl

12/71

11.9 MANAGEMENT OF CONCESSIONS

Study Exhibit C which provides practical-

guidance on achieving success on concessions,

in complex negotiation environments

12

7/30/2019 agl20sl

13/71

11.10 LEARN FROM CASE EXPERIENCE

MULTIMODE:

Need for quickly establishing trust with a cooperative strategy.

Acceptance of the other partys interests, objectives and limitations

Recognition of value differences.

Define conflict areas.

Creative search for seven alternatives for every key issue.

13

7/30/2019 agl20sl

14/71


MULTIMODE:

Priority for fairness in long term relationships.

Identifying the constraints on each party for future workingin the company with the tough CEO

Need for KSA in negotiation to achieve more than BATNA

Personal reputation and status are critical factors in

implementing negotiated agreements.

14

7/30/2019 agl20sl

15/71


QUICK DRY PAINT:

Need to know about the legal complexities of Mexico and the risk of

corruption and loss of patents.

Need to be able to check on the specific actions of the licensee.

Who will own improvements in reality?

In LA, will licensing outcome depends more on trust which takes more time, than legal issues.

15

7/30/2019 agl20sl

16/71


QUICK DRY PAINT

Who will bear foreign exchange risk?

Dispute resolution with an agreed arbitrator able to implement his decisions.

Poor outcome of possible litigation in Mexico or USA

Lack of experience in international licensing creates high risk. If no

agreement then BATNA is best.

RESULT Deal made!!!

16

7/30/2019 agl20sl

17/71

11.11 Negotiation Analysis The questions to analyze in a negotiation are:

What is the BATNA of each party, with no

agreement? Who are the real Parties in the negotiation? What are the critical Interests of each party?

How to create value for both parties?

What Barriers must be overcome to achieve agreement?

How can Power influence the process?

17

7/30/2019 agl20sl

18/71

11.11 Negotiation Analysis

What are ethical things to do?

But rigorous negotiation analysis is necessary but not enough.

Negotiation also needs: implementation strategy, ability to listen,

persuasion, positive attitudes, patience and humour.

Negotiation is an interactive process, directly related to attitude and

creativity that needs to encourages cooperative behavior from the people with whom we deal.

18

7/30/2019 agl20sl

19/71

11.12 OVERALL

The six Ps of effective negotiation are : Parties,Process, Power, Product, Problem and Prognosis(outcome).

The key objective is achieving a long term relationshipof trust for mutual benefit and a win-win outcome.The BATNA is an alternative for a failed negotiation.

So much depends upon the negotiation: environment,process and the setting, which can be managed!!

19

7/30/2019 agl20sl

20/71

11.12 OVERALL

Business success in negotiation may well dependupon: knowing your product, customer andcompetition; effective business decision making;

finding your market niche.

Quality products; creative diversity; findingexpanding markets; network contacts; trust and

honesty; control of cash, outcomes and risk;diffusing tension; customer loyalty; creativityand overall on your skills of negotiation

20

7/30/2019 agl20sl

21/71

11.12 OVERALL

So many things to learn now including

Exhibit A on Protocols and deportment and

Exhibit B Practical Advice and Exhibit C

Managing Concessions

21

7/30/2019 agl20sl

22/71

EXHIBIT A - PROTOCOLS

Try hard to avoid making obvious mistakes with differentnationalities:

English - definite and polite with proper protocol and etiquette.

French - expecting others to behave as if in France, conductingbusiness, with the French language

German - protocol important. Conservative dress and posture withmanner expected. Seriousness of purpose and appropriate dress.

Swedish - formal relationships without price disputes. Expect

complete professional proposals without errors and of high quality.

22

7/30/2019 agl20sl

23/71


Italians - extremely hospitable and volatile. Make pointswith dramatic gestures and emotional expression.

Japanese - may spend days or weeks creating a friendly,

trusting atmosphere before discussing any business at all.

Chinese - follow fixed protocol in negotiation, alwayspreceded by small. Opposed to touching. Greeting withshort bow and very brief handshake.

Indians - formal business with polite relaxed manner.

Connections are the key to trust. Always requestpermission before entering, sitting or smoking.

23

7/30/2019 agl20sl

24/71


Mexicans - practice negotiation with heavy emotion .Drama more important than logic. Negotiators oftenselected for skills in dramatic and distinguishedperformances.

Brazilians - negotiating process valued more than the

actual result. Discussions lively, heated, eloquent, andwitty. Great hospitality to establish comfortable socialclimate.

Russians Tend to distrust business managers.Extremely cautious when dealing with new parties.

24

7/30/2019 agl20sl

25/71

EXHIBIT BPRACTICAL ADVICE

a. Risk averse negotiators are sometimes desperate toavoid risk and may take a quick first offer.

b. The target point is the point at which a negotiator wouldlike to conclude negotiations; it is not the negotiator'sbottom line;, not the first offer a negotiator quotes to hisopponent; not the initial price set by the seller.

c. Both tangible and intangibles factors can be the mostpowerful in any negotiation. f. Highly individualized(idiosyncratic) deals are much more common today, andthey are not reserved only for a special few.

25

7/30/2019 agl20sl

26/71


d. Coordinate (cooperative) adjustment,

involves, making conscious changes to your

approach to be more appealing to the other

party.

e. Both parties making mutual adjustments to

find a common process for negotiation; craftingan approach that is specifically designed to

achieve success in the negotiation situation

26

7/30/2019 agl20sl

27/71


f. Multiparty negotiations differ from two-partydeliberations in so many ways; more negotiators at thetable; more issues and more information introduced;environmental changes from one-on-one dialogue to

small group discussion.

g. The parties approach multiple issuessimultaneously; tend to achieve lower qualityagreements; increase the likelihood of achieving some

agreement; and yet exchange less information andhave less insight into the preferences and priorities ofall the other parties at the table.

27

7/30/2019 agl20sl

28/71


f. Reputation in negotiation is a perceptualidentity; a reflective of the combination ofpersonal characteristics; demonstratedbehaviour. All of these define reputation.

g. The perceptual process involves a specialorder: stimulus, attention, recognition,

translation, behaviour. Visibility is important asit involves centrality or criticality in negotiationnetwork structures.

28

7/30/2019 agl20sl

29/71


h. Hardball tactics are designed to be used primarilyagainst powerful negotiators; to clarify ;to adistributive (zero-sum) bargaining approach and topressure d parties to do things they would not

otherwise do..

i. Frames are important in negotiation becausedisputes are often nebulous and open to differentinterpretations. Frames do not allow parties to develop

separate definitions of the issues; frames can not beavoided; frames do not allow negotiators to articulatejust one aspect of a complex social situation

29

7/30/2019 agl20sl

30/71


j. The most dominant cause of breakdowns and

failures in negotiation are distortions in

perception, feedback, and behaviors; it is not

just meaning or cognition.

30

7/30/2019 agl20sl

31/71

EXHIBIT C MANAGING CONCESSIONS

Plan concessions in advance, concentrating on the other partys

underlying interests.

Provide sufficient margins particularly in cultures that are

extremely demanding.

Set aside a few concessions in reserve to be used when concluding

the deal.

Trade small concessions early on to encourage the other party to

share information and to promote trust.

Insist on obtaining immediate reciprocity after making a

concession (future promises lose value over time).

31

7/30/2019 agl20sl

32/71


Determine, the real value of the concessions and what other party is willing to pay for

Remember that 80% of the concessions are traded in the 20%

remaining time.

Have the party work hard in obtaining concessions to be

appreciated as well as encouraging the other party to reciprocate generously

Provide justification/benefits for each concession to enhance its

value.

Keep a few nontangible concessions, including symbolic ones to

break a deadlock or to conclude.

Observe the other party's body language to detect hidden motives.

32

7/30/2019 agl20sl

33/71


Take into consideration that negotiators from

different cultures concede differently

Be aware that how you concede is just as

important as what you concede.

Trade concessions in fewer and fewer amounts

requiring the -other party to spend more and

more time and effort.

Manage time efficiently by concentrating on key

issues.

33

7/30/2019 agl20sl

34/71


Know the competition to resist giving away

unnecessary concessions.

Be aware of false concessions.

Build trust; otherwise reciprocity is not

adhered to.

34

7/30/2019 agl20sl

35/71

11.13 LEARNING PATTERNS - REVIEW

Six Ps of effective

negotiation

35

7/30/2019 agl20sl

36/71


Parties

Process

Power36

7/30/2019 agl20sl

37/71


Product

Problem Prognosis

(outcome)

37

7/30/2019 agl20sl

38/71

11.14 INSTRUCTIONS (20 minutes)

Reassemble in SG

Review the Summary Lecture for Part I

Discuss questions arising

38

7/30/2019 agl20sl

39/71


Get the best out of Part II of the program, completeALL of homework tonight:

Study the course text book: Practical Solutions to

Global

Business Negotiations (Cellich & Jain) - Chapter 1 and

explore the contents of the book for future study.

Study again the AGL Summary Lecture Part 1 and

Glossary in the Diary.

39

7/30/2019 agl20sl

40/71


Review the HBS Article (Investment Analysis).

Very briefly review the two new cases: Quick Drying Paint

and GE (handouts).

Review your notes for Part I of the course and list

outstanding

questions to be resolved in Part II

Be sure to return the Workpack to the organizer now.

You have all you need in the Diary.

40

7/30/2019 agl20sl

41/71

END

END OF SUMMARY LECTURE 1

41

7/30/2019 agl20sl

42/71

3. SUMMARY LECTURE - 2

42

7/30/2019 agl20sl

43/71

12.1 COURSE OBJECTIVES

The program provides members with the opportunity to use negotiationconcepts, techniques and skills so that they become more completemanagers.

The specific learning objectives are to:

To analyze negotiation process to achieve goals exceeding BATNA

To evaluate the impact of culture on negotiation.

To practice international negotiation communication skills.

To develop skills in achieving negotiation strategy .

To motivate further study in the future.

43

7/30/2019 agl20sl

44/71

12.2 NEGOTIATION

The key objective is to achieve the goal exceeding BATNA. Helped duringtalks, when effective relationship negotiators focus on a variety of non-contractual issues, including:

Getting to know the other side well.

Establishing a positive personal chemistry between the leadership of the companies involved.

Understanding and respecting each others cultures, expectations, and

goals. Putting mechanisms in place to foster communication after the

contract is signed.

Ensuring that the proposed deal is balanced and advantageous for both sides.

Identifying and planning for potential obstacles to implementation.

44

7/30/2019 agl20sl

45/71

12.3 COMMUNICATION

The exchange of messages between people to may achieve common meaning, in three forms:

Instrumental/goal directed communication - where the sender seeks

to achieve specific effects in the receiver - most important in work. Such

deliberate communication is "transmitted".

Expressive communication - where an emotional state (e.g. joy or anger)

or a motivational state (e.g. enthusiasm or frustration) is

spontaneously "emitted"

Incidental and often un-conscious communication where the sender

"imparts" information to others without intending to.

45

7/30/2019 agl20sl

46/71

12.3 COMMUNICATION

Be prepared for a practical reality face to face" communication, asinformation may transmitted as follows:

10% - in words

50% - in facial expressions

40% - in vocal intonation and inflection.

Thus words themselves or the "rational component", may conveyonly about 10% of the communication message. 90% of eachmessage depends on the "emotional feelings content", whether we

are aware of it or not!

Communication is helped by words and feelings.

46

7/30/2019 agl20sl

47/71

12.4 INTER-GROUP BEHAVIOR

In negotiation between groups, to survive and be effective, a group mustwork through differences with other groups.

Inter-group relationships are fostered by the norm of reciprocity ie.exchange of favors - like a human resource bank account. Communicationcan fail when a group refuses to provide favors for another.

Older more inflexible individuals and groups tend to become resistant tochange. Such groups are "frozen". Frozen groups, contrast with dynamicgroups that are more able to change.

People who perceive their established positions, status, security, privileges

etc. to be threatened by change will resist it more strongly.

47

12 5 NEGOTIATION CONCEPTS

7/30/2019 agl20sl

48/71

12.5 NEGOTIATION CONCEPTS

Everything is negotiable with the tools of: time, power andinformation and with a "win/win" style of negotiation.

Win/lose negotiation styles do not support long term

cooperation, Successful win/win negotiation lies in findingout what the other side "really" wants and showing themthe way to get it while we get what we want.

Most needs can be satisfied by the way we act and behave,

when the goal is mutual satisfaction (but we must avoid"nibbles" - asking for extras AFTER a deal!).

48

12 6 COMMUNICATION AND

7/30/2019 agl20sl

49/71

12.6 COMMUNICATION AND

NEGOTIATION SKILLS FROM A-Z

Study the ideas in Exhibit A and recognize the

ones which you have already learned.

49

12 7 PRACTICAL THINGS NOT TO DO

7/30/2019 agl20sl

50/71

12.7 PRACTICAL THINGS NOT TO DO

IN NEGOTIATION

Study the ideas in Exhibit B and recognize the

ones which you have already learned.

50

7/30/2019 agl20sl

51/71

12.8 LEARN FROM EVERY CASE

EXPERIENCE QUICK DRYING PAINT CASE:

Clarify the different roles in licensing

Recognize the complexity of licensing and the risk of patent loss. Define what the licensor must be sure to do

Decide on the ownership of improvements

Forecast outcomes with specific clauses and controls

Decide who bears foreign exchange risk

Provide for dispute resolution with an agreed arbitrator

Be realistic on possible outcome of litigation in Mexico or USA

Recognize the possible unequal parties in licensing

With no agreement back to BATNA

51

12 8 LEARN FROM EVERY CASE

7/30/2019 agl20sl

52/71

12.8 LEARN FROM EVERY CASE

EXPERIENCE

GE CASE:

Contrast of cultural values.

Possible joint venture despite highly different objectives.

Several other alternatives available

Why is tit that negotiations fail How to ensure fulfillment of Asian contracts

Taking two years of meetings to agree a relationship

Cross cultural behaviours and endeavours

Nature of the win-win deal

Need to accept and structure re-negotiation With trust for a long term potential together

52

7/30/2019 agl20sl

53/71

12.9 OVERALL

SWOT and KSA to achieve a goal exceeding BATNA.

The six Harvard Ps of effective negotiation are : Parties,Process,

Power, Product, Problem and Prognosis (outcome).

The key negotiation objective is achieving a long termrelationship of trust for mutual benefit and a win-winoutcome.

The BATNA is an alternative for a failed negotiation.

53

12 9 OVERALL

7/30/2019 agl20sl

54/71

12.9 OVERALL

So much in negotiation will depend upon youmanaging: environment, process and the setting,Now you can do it !!!

On we go together when you have time be

sure to study section 4.0 Cultural Challenges and you will find that you have absorbed the

answer to each case instinctively after 2 days ofAGL interaction negotiation instincts worth amillion?

54

7/30/2019 agl20sl

55/71

EXHIBIT A - COMMUNICATION AND

NEGOTIATION SKILLS A-Z

A. "ACTIVE LISTENING" is the key to good communication!

B. Use outside consultants skilfully as "organizationalsymbols" who "take the BLAME" for necessary changes that

MUST be introduced.

C. The objective of communication is to ensure thatexpectations and reactions are CONGRUENT.

55

EXHIBIT A COMMUNICATION AND

7/30/2019 agl20sl

56/71



D. Appreciate cultural DIFFERENCES. Many messages mean

different things with different emotional consequences in

different cultures!!

E. EMPATHIZE with the receiver/sender.

56


7/30/2019 agl20sl

57/71



F. Seek continual FEEDBACK. Listen actively and accept, use

and reward contributions from colleagues.

G. GO for: trustworthiness, trust, empowerment and

alignment. which build commitment and promote effective

communication and delegation.

H. Seek assistance from others who may be HELPFUL prior

to communicating - ignoring them may be an insult!!

I. Clarify IDEAS before communicating them.

57


7/30/2019 agl20sl

58/71



J. Recognize PREJUDICE (sexual/racial/national/religious/age ...oneself too!) ... is everywhere ... and communicate accordingly.

K. Sometimes we all need a little KITA to improve our efficiency

(doing things right) and effectiveness (doing the right things).

L. Accept that personal needs and survival are everybody'snormal first priority regardless of what they say. Look for the four"L's" : living, loving, learning and legacy.

M. Consistent MEANING - don't keep changing your message.

58


7/30/2019 agl20sl

59/71



N. Recognize the cultural NORMS of the environment withinwhich you communicate.

O. Examine your OBJECTIVES and expectations for each

communication (facts? attitudes? feelings?)

P. PRACTICE what you preach because people judge you by your"action communication" (80%) not merely your "wordcommunication" (20%).

Q. Recognize that failure to use "politically correct" terminology

could lead to significant adverse reactions.

59


7/30/2019 agl20sl

60/71



R. Good communication needs a "RELATIONSHIP" - to make itwith a foreign speaker - make the effort to learn some of her/hislanguage - even though you may work together in English.

S. Recognize that people are committed to change only in termsof their own personal SAFETY systems.

T. Remember that it is not only what you say but how you say it("TONE") that determines the real effect of communication.

U. Remember that to be a successful manager and communicator

it is just as necessary for you to UNDERSTAND other people's pointof view, as it is for them to understand yours.

60


7/30/2019 agl20sl

61/71



V. Seek organizational culture not by complete control orcomplete freedom but by the third domain of interdependentcommitment expressed in meaningful mission statements thatrespond to the needs and VALUES of all of the stakeholders.

W. Be very creative (brain storm) in seeking "WIN-WIN" solutions,

by seeking out the magic "seven" alternatives for every problem.

X. And remember that every Napoleon theory (X) alwaysperceives himself/herself to be a tolerant, benevolent, participativetheory (Y) manager ...!!!

61


7/30/2019 agl20sl

62/71



Y. Recognize that when a manager says she/heis "LOYAL" to the company", she/he is really

saying "my personal needs are being satisfied bythis organization and therefore I want it tosurvive".

Z. "Starters" achieve effective change but don'thesitate to replace them with "Runners" whenthe time comes.

62

7/30/2019 agl20sl

63/71

EXHIBIT B - PRACTICAL THINGS NOT

TO DO IN NEGOTIATION Study the ideas in Exhibit B and recognize the ones which you have

already learned after two whole days of AGL effort.

So please do not:

Confuse cost and value.

Accept concessions too easily.

Be the first to make concessions on key issues.

Offer a large concession early in the discussions, as it encourages

the other party to ask for more.

Give away important concessions under time pressure.

63

EXHIBIT B PRACTICAL THINGS NOT

7/30/2019 agl20sl

64/71


TO DO IN NEGOTIATION

Show too much enthusiasm when accepting concessions (winners curse)

Accept future promises in exchange for valuable

concessions. Assume that the other party values concessions

the same way as you do.

Suppose that the other party has similar

priorities, needs, goals, and motivation. Trade concessions without first creating value

64


7/30/2019 agl20sl

65/71



Make concessions that affect the bottom line

negatively.

Claim value before creating value.

Be arrogant when refusing a concession.

Adopt a concession strategy that can be easily

detected by the other party. Make quick decisions under time pressure.

65


7/30/2019 agl20sl

66/71



Give away information to the other party

without reciprocity.

Negotiate against yourself.

Rush into concessions to satisfy the other

party.

66

7/30/2019 agl20sl

67/71

LEARNING PATTERNS REVIEWSix Ps of effective negotiation

Parties

Process Power

Product

Problem

Prognosis

67

7/30/2019 agl20sl

68/71

FINAL NOTE

This ends our AGL program; one of a six part series:

AGL 1 - Finance for Non-Financial Managers

AGL 2 - Cost Control

AGL 3 - Planning and Budgetary Control

AGL 4 - Capital Investment Analysis

AGL 10 - Management of Working Capital

AGL 20 - Negotiation

We hope it has inspired you to develop your skills by practical applica-

tion. You are now ready to study the course text book which is excellent:

Practical Solutions to Global Business Negotiations

(Cellich & Jain)

68

7/30/2019 agl20sl

69/71

FINAL NOTE

Thank you for your interest and hard work. Keep the glossary handy as a dailyreference for finance and other negotiations. Follow up by doing sections 5, 6, 7

and 8 of eh Diary and giving feedback after the course.

We hope that you have much enjoyed the AGL experience and that it motivates

you to read widely in finance and accounting and to continue your studies in thefuture. We suggest the The Economist weekly and the WSJ (Wall Street Journal)

every morning - as good as an MBA!!!

Be sure to reinforce your learning with the all the activities set out in the Diary

and with the LRT (Learning Recall Tape) routine, as explained by the organizer.

69

7/30/2019 agl20sl

70/71

FINAL NOTE

In the month following completion of the program. Please send usthe Final Feedback Summary on day 28.

We trust that you have found AGL to be both "efficient" (doingthings right) and "effective" (doing the right things).

Thank you for being a member of the program.

RGAB

[email protected]

www.crelearning.com

70
mailto:[email protected]://www.crelearning.com/http://www.crelearning.com/mailto:[email protected]

7/30/2019 agl20sl

71/71

END

End of Summary Lecture 2

Documents

agl20sl