BREXIT Negotiations – Value Creation or Damage control?
BREXIT Negotiations – Value Creation or Damage control?
Well, it depends on whom you are talking to.
European Commission President Jean-Claude Juncker says BREXIT is a tragedy and deal endorsed by EU is the only possible deal.
However, British Prime Minister Theresa May says it is good deal that protect the things they value and takes care of national interests.
Nevertheless, for EU and UK although initial agreement is endorsed but the rest of the process is not over yet.
EU needs to ensure no other EU member takes similar view point and set precedence to further disintegration of the union and avoid snowball effect.
In the meantime, PM Theresa May has a challenge to take this agreement and making the argument in favour of this deal to pass it through the parliament.
How come single deal means two different outcomes to different parties? Well, that the nature of any negotiation. Often you gain in certain key areas and must be willing to compromise in other areas.
At times we are compelled to negotiate for reasons thrust upon us. Negotiation becomes even harder when it involves multiple stake holders with diverse negotiation objectives and interests. Whatever the circumstances complex negotiation like this will require;
- Setting realistic and practical objectives
- Multiple negotiation support team approach,
- Agreeing and setting the process,
- Right level of engagement with all stake holders,
- Micro level engagement with every aspect of key areas
- Agree on shared interests where possible
- Effort to maintain and preserve the relationship with negotiation partners.
As PM Theresa May says, “we are leaving EU and not leaving Europe”
Only history will judge the success of this agreement for both EU and UK.
