TradeBriefs Editorial

From the Editor's Desk

Covid 19: Implications for business - How to respond

In our experience, seven actions can help businesses of all kinds. We outline them here as an aid to leaders as they think through crisis management for their companies. These are only guidelines; they are by no means exhaustive or detailed enough to substitute for a thorough analysis of a company’s particular situation.

1. Protect your employees
2. Set up a cross-functional COVID-19 response team
3. Ensure that liquidity is sufficient to weather the storm
4. Stabilize the supply chain
5. Stay close to your customers
6. Practice the plan
7. Demonstrate purpose

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TradeBriefs Editorial

From the Editor's Desk

Your History With Money Affects How You Negotiate

Today's smart leaders would never dream of conducting cross-border negotiations in a culture-blind way. They are well aware that when internationally diverse groups sit down to negotiate, the differences in their cultural values are at the table too. To achieve that coveted win-win outcome, you need to know where your counterparty is coming from, literally and figuratively.

Yet differences that exist within cultures can also profoundly impact negotiating styles. My recent research looks at how past experience of financial disadvantage affects how people negotiate. We find that this experience produces a mindset with unique barriers to the achievement of win-win results. But the prevailing wisdom about negotiations has little to say about distinctions rooted in economic class rather than culture or nationality. These class blind spots may have serious societal implications in this era of mounting inequality because so many levers of social mobility are tied to negotiations.

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TradeBriefs Editorial

From the Editor's Desk

Build a Network- Even When You Don't Think You Need One

There are plenty of reasons professionals don't network enough. We're all busy. Some have stressful family obligations. Others are introverts who don't take to the process naturally. Of course, you can find time-efficient ways to connect with others and learn new techniques that will make you more comfortable - if there's sufficient will to change.

But in my work coaching high-level executives, I've come to realize that many of the professionals who have the hardest time building a network are those who view themselves as "lone wolves" who have succeeded on their own merits and don't rely on others. Intellectually, they recognize the benefits of networking, and know they should do it. But they've achieved their current status on the strength of solo (or near solo) efforts, and adjusting their mindset and behaviors can be challenging.

If you've avoided networking in the past because of lone-wolf tendencies, here are four strategies you can use to reframe the process and turn it into something you actually enjoy doing.

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