Real-Life Decision Making -- Solution
You offer them a lease agreement that will allow them to retain ownership of the land.
You arrange to meet the landowners a second time, and return to your office to discuss the case with your boss. You explain to him that both of these gentlemen are sadly undereducated, and ask how he would like to proceed.
Your boss, whose policy has always been to be honest with everyone he deals with, suggests you bring in an unbiased representative to serve the landowners' interests.
You do, and the contract for lease of the land is negotiated for a period of five years. The owners of the land are happy, and your boss is impressed with your ethical behavior. He gives you a larger percentage of the profits when the well is dug, and it turns lucrative two years later.
When the five-year renegotiation of the contract comes up, the owners of the land request your services for the renegotiation because they found you to be pleasant and fair to work with. This will extend your percentage of the profit through the next renegotiation.
"Honesty with the people you come in contact with during a negotiation is a must. Many of the people we deal with are from very rural areas. Their educational backgrounds are lacking, and sure, you can run them over. But that will come back to you time and again," says Ted Weryshko. He is a petroleum landman.
"I find those in the field who are honest tend to be more successful, and they are better at their job."