A Big Goal For Lee Medical Supply

1. How did you plan for the negotiation? Explain how you decided on a strategy?

Consequently, negotiation is a process that can be approached in many ways. No matter what strategy we choose, success lies in how well we prepared. The key to negotiating a beneficial outcome is the negotiators’ ability to consider all the elements of the situation carefully and to identify and think through the options. At the same time, negotiators must be able to keep events in perspective and be as fair and honest as circumstance allows. Because a common ground or interest has brought the parties to the negotiating table, a negotiator can benefit by trying to capitalize on this common

Pre-negotiation preparation is essential for the optimal outcome of a negotiation, as it allows one to design a strategy and plan that can increase the probability of a beneficial agreement. Good preparation means thorough understanding of one’s own and the other party’s relevant information, including interests, constraints, and tradable resources. An effective negotiator should know one’s own best

Peggy 's BATNA is to sue the Smiths. While she may not wish to pursue this as a first action, it is the museum 's best alternative to acquiring the $5 million pledge should negotiations fail. The BATNA 's value is high and will have significant strength if viewed by the Smith 's as a possibility should they continue to avoid paying their debt. The court will likely see this as a contract between the parties; especially since the museum would have to claim the $5 million as income and based its growth plan on the receipt of the funds. According to Robertson and Lewis (2009).courts often weigh pledges as they do traditional contract law. However, there is no guarantee that the museum would win or that a court would not reduce the obligation due to Mr. Smith 's illness.

In any negotiation, preparation is crucial; and having a set, outlined process to follow when preparing helps mitigate a potential oversight of any significant issues within the negotiation. Following a set process also helps one stay on task and in-line with what the important issues and factors are in a negotiation. In Bargaining for Advantage, G. Richard Shell provides a well-structured framework to follow in planning for a negotiation. For this reason, I used Shell’s negotiation preparation framework to plan for the negotiation between Rapid Printing Company (Rapid) and Scott Computers, Inc (Scott).

In today’s world, it is hard to find a company that is not involved in international business. Within this involvement are these businesses building relationships and negotiating amongst themselves. This negotiation is taking place because they feel they can influence the process in a way that can get them a better deal than settling for what was initially proposed. However, cultural differences between countries are a key factor and create challenges for these businesses. There is more to negotiating that meets the eye and these hidden cultural elements, if not understood, will make or break the negotiation. Therefore it is important to be aware of cultural influences on negotiations. The purpose of this paper is to use different elements and Hofstede’s Value Dimension framework to identify the cultural differences between China and the United States.

In this negotiation, we learned that it is important to research your opponent, to understand their culture, not only of their country or backgrounds, but also their company culture. When we are able to understand our opponent’s way of thinking about business and doing business we can then understand how to approach a negotiation situation with them. In this exercise, we learned that it is difficult for us to adjust when it involves breaking or acting in a way opposite of what we are accustomed to. We also learned that although my classmates live in the same country as we do, their upbringings may have similarities to their origin country and will therefore help them to communicate and adjust to that country’s norms and standards. We were surprised how we were able to stay in character although it was hard and it was surprising how people responded when they were unaware of your intentions and strategies. If we had to do this exercise again, what we can do is do more research on our opponents so that we would have an idea of what to expect in the negotiation table.

Although, I am not that strong in leading a negotiation towards it’s ultimate goal. In order to increase the probability of a successful negotiation, for me as an individual, first I should identify the required steps and the order they should be taken in the course of a negotiation and try not to skip any step. The second item in my action plan is to improve my ability to construct trust-based negotiation. If trust is the basis of a negotiation, then both involved parties can think of a long relationship rather than one time transaction and it is what matters.

This section is an excerpt from the book “Negotiating International Business - The Negotiator’s Reference Guide to 50 Countries Around the World” by Lothar Katz. It has been updated with inputs from readers and others, most recently in March 2008.

The value of being prepared cannot be overstated when it comes to negotiations. Failure to understand one 's best alternative to a negotiated agreement (BATNA) options is one example of poor planning that can leave a party at the mercy of another. Such is the case of the Pacific Oil Company (POC) case study where POC and Reliant Corporation worked together to negotiate a business contract for the supply and purchase of a vinyl chloride monomer (VCM) product. The negotiation process did not go as planned, and the following will explain the case overview, provide insight to the various negotiation styles and tactics utilized in the negotiation process, and explore the anticipated outcome of the contract negotiations.

Negotiating is a practice that allows for two sides to reach common ground and agree upon a specific settlement or transaction. During this at times complicated process, the bargaining sides develop a measure together to move forward in their business process. As a lead negotiator of a small firm, the research and analysis of the sought after contract has to be thoroughly conveyed to the U.S. Government. The small business’s negotiating team should be very familiar with the federal negotiating team and all that the federal government is expecting from the product they desire. As there are hundreds of competitors out there, it is safe to assume that there are multiple products out there. However, the negotiating firm of the small business must use different negotiating gambits and pay particular attention to the body language and examine the language used during the entire process.

"We have nothing to fear, but fear itself." How ever true this might be, it is human nature to feel fear, and more importantly fear of the unknown. Often fear leads to mistrust, which can finish a negotiation before it has even begun. IN today’s increasingly globalised world, being culturally prepared and culturally aware allows negations to at least commence smoothly and efficiently. Globalisation has brought everyone on earth closer together, we can be chatting to someone in Argentine, and emailing someone in Shanghai. Organisations have tapped into the global work force and cross-cultural negotiation is by-product of this. How ever when negotiating across culture, negotiators must always remember that the cross cultural differences are not the issue up for debate, and through many social cues we can see how different cultures and behaviours different to our own can insight fear, and fear of the unknown, nearly hijacking the negotiations. This is evident through many things, whether it is almost superficial concepts, such as language, gestures and eye contact. It is also evident through more profound explanations such as time orientation. Despite the overwhelming amount of literature asserting the major differences in cross-cultural negotiation, there are many experts in the field who disagree. We contrast the pre-discussed notions and can see that cross-cultural differences are also a smokescreen for many negotiators to hide behind for many reasons. This contrast to the

Explain each stage of the negotiation process and the role that culture plays in each stage. Give example to support your answer

Q 1) What research will you need to do to prepare for this negotiation ? Discuss how this research is important to the outcome of your negotiation ?

Another element of the American culture is the egalitarianism. The high regard of equality can be seen in the pursuit of equal opportunities, in the refusal of authority and paternalism, the requirement of participation as well as in the preference of informal behavior. (Stahl/Langeloh/Kühlmann, 1999: 57)