The Golden Rules of Negotiation (8 July, 2020)
Michael Klug AM is recognised as one of Australia’s best-known practitioners and teachers in negotiation skills, conflict management and ADR. The Golden Rules of Negotiation, which have been written, observed, and extracted by Michael, form the basis of his negotiation programs.
We thank Michael for generously presenting for the TMA on 8 July. Key takeaways from Michael’s session:
- The overarching objective of a negotiation is to create value;
- Be aggressive with the starting point. The starting point has more to do with the ultimate outcome of negotiation than any other factor;
- Go slow to go fast. Never allow the other party to rush through an agreement. A good negotiation will take up all of the entire allocated time so take the opportunity to use break away rooms and think about the offer.
- Work out your “NDO” (no deal option) and do not accept anything that is worse than your NDO.
View the recording from the session – https://www.youtube.com/watch?v=odHwSCvEwpQ&feature=youtu.be
View the slides – Presentation – Turnaround Management Association – Negotiation Skills (Brisbane) – 8 July 2020
The CRO and interim turnaround roles – act early to improve the odds (1 July, 2020)
Chief Restructuring Officers (CROs) and interim executive managers have become a mainstay of restructuring processes in the U.S. and Europe. So why has corporate Australia been slow to embrace these change-making roles?
Executive level surge resourcing offers a critical value-add to businesses undergoing a significant change event. This may be to seize opportunities for growth or to restructure a stressed business. Interim experts inject a specialist skill set that’s conditioned to navigate these complexities and ensure the best outcomes for all.
Our panel of experienced cross-border CROs presented on the:
- The role of the CRO in North America
- The development and acceptance of interim resourcing in Australia
- Example of where the CRO or interim manager can make a real difference, by event and sector
- The relationship between interim resources and the board, management, lenders and other stakeholders
The webinar also included a live global case study where a CRO is assisting directors to steer a business through a volatile time.
Answers from our speakers – HerePresentation Slides
Business Funding Guide - Scottish Pacific
The biggest barrier for small business growth is access to finance. Small businesses are particularly feeling the brunt of the credit crunch, as lenders tighten their requirements in the wake of the Banking Royal Commission.
Developed by The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and TMA National Partner Scottish Pacific Business Finance, this guide provides an insight to best prepare your clients for accessing capital and looking at the most appropriate funding solutions for their business needs.
The Business Funding Guide will help you:
- Identify key indicators that your business clients may need funding
- Prepare your clients for a funding application: getting business accounts in order, write and review a business plan and conduct a finance fitness check
- To start a conversation with your clients about funding options
- Identify the questions your clients should ask their lender if their loan application is rejected
Scottish Pacific Business Funding Guide
KordaMentha - TMA Survey 2019
The annual KordaMentha – TMA Survey provides an insight into the causes, challenges and successes of Australian corporate turnarounds.
2019 is our ninth survey, which features both the current trends in business turnarounds, and an outlook towards 2020.
McGrathNicol Advisory - Working Capital Report 2019
Welcome to the 2019 McGrathNicol Advisory Working Capital Report. This report profiles the working capital performance of a sample of 140 ASX listed companies across the Agriculture, Building Products, Construction & Engineering, Food & Beverage Production, Healthcare Services, Mining & Resources, Mining Services, Retail, and Transport & Distribution sectors. View Report / View Video