My team members used to believe that I compromise and give in too easily when it comes to negotiations with parties which haven’t done their part of the bargain. As far as I’m concerned, I think making healthy compromises is always a better way to resolve a conflict, as long as we stay true to our core values. My people may feel I’m at times too much of a pushover - but what use is there when fighting or staying tough will result in a lose-lose scenario for everyone? Compromise can be a tricky thing to achieve in the boardroom, and I guess it’s the same in a personal relationship. It obviously becomes trickier when big egos are involved.
There’re situations when we’re clearly lacking leverage, even when the fault lies with the other side. My Group bought a few buildings en bloc a few years back, but the developer failed to deliver after drawing down most of the funds. I had no choice but to negotiate to go in as a white knight to save the project, for a win-win solution. In many cases, I think going for broke, like suing or taking drastic actions, is inherently risky and could potentially be ruinous. Compromising can still allow us to get a favorable deal that could lead to bigger returns later on, even if we have to give up a little now. We can’t always get what we want or always be in total control, of course. But I’m sure we can still get a lot of what we want, if we know how to prioritize what’s most important to us.