Recap

The book is about a PE firm is taking over the KFB (Korean First Bank) during the Asian financial crisis. There has been a long negotiations. Everything could go wrong, went wrong. It’s a clash of culture, positions, perspectives and etc.

For the book though, I did my homework about the deal and it’s definitely a win-win game. It might still be a way better deal for the buyer. If you think from this perspective, the Korean government side might sound more reasonable and less dramatic.

Takeaway

The biggest takeaway for me, as a software engineer is how negotiation works. Recently I joined the 2B business and working with different partners in traditional industry (well, we call ourselves high tech but..). I already feel the negotiation went in various ways I never anticipate. Until I read this book, I learned the good, bad and ugly of negotiations. Also, how to think in other people’s perspective, holds your position and most importantly stay sane while frustrated.

For example, recently we worked with a customer who has their own tech out sourcing company. It’s interesting to see how decision could be made when we were talking with them, vs talking with their consulting firms. It’s different from the book where the consulting firm wants to prove their value - prove by the amount of work.