VIP Class Notes (Jacob)

Negotiation exercise

Vocabulary

Clientele – All of your clients together

Proposition – propose something

Bilateral – trade related to two parties

Multilateral – trade related 2+ parties
eg. TPP is multilateral trade agreements between pacific nations

Impeachment – the process to remove a president from office
eg. I hope trump gets impeached

Short the stock – betting that a stock will decrease in value

Give & take – something to give a better deal so that you can receive one in the future

Haggling – trying to negotiate to get a lower/lowest price possible

Bartering – the process of trading

Pay over the odds – so paying above somethings value

In-explicit – something not written but is mutually known

Explicit – something that is clearly stated (written contract)

Counter proposal – to make changes to an initial proposal and offer it back
eg. Your initial proposal offer wasn’t bad but I made some changes and here is the counter proposal

Deadlock – something that is stuck at the inability to continue negotiations
eg. Neither of us can change our price offer

highball/lowball  – to make an offer that is way to high or way to low

Leverage – to have an advantage or be in a stronger negotiating position

Industry specific – something related to a specific industry

I have some reservations about… – I have some hesitation about..
eg. I have some reservations about the logistics so I’m not ready to sign the contract yet.

Dumping stock – selling large amounts

Grammar

Help me my English

Pronunciation

read/read

Watch: inside job, wall street: money never sleeps