A Conversation Between The Director Of Food And Beverage At The Statler Hotel

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This negotiation consisted of a conversation between the Director of Food and Beverage at the Statler Hotel (me) and the East Coast Vice President of Sales for Anderson Coffee. Our negotiation was fairly short, consisting of only five minutes total. I believe this was because both parties came in with an open, friendly attitude ready to strike a deal together. We also had a great deal of mutual respect for one another, so having an open conversation about limits and potential opportunities within the relationship was much easier. She opened the conversation with the beginning offer, and I followed up with asking her about why the price was where it was at and explaining that while we are excited to talk to Anderson we are also content to …show more content…

The two year contract created value for both parties for different reasons. Value was created for me due to the guaranteed lower price for a longer period of time and a relationship with a superior vendor. It was valuable to her because it guaranteed both revenue and an advertising stream for a long period of time. We would not have been able to reach these terms without listening to one another. I also learned one thing that I would like to stop doing during the negotiation is letting the other party offer first. I was able to adequately prepare for the negotiation, find the prices I wanted and was willing to accept, and identify different issues besides price to use as bargaining chips since the Statler Hotel had less to offer than the seller. Although I knew that I had taken enough time to prepare for the negotiation, I let fear of inducing a chilling effect keep me from being aggressive with my first offer. I now know I have no need to be self-conscious if I have prepared – although I read this in the book it is different to experience it in practice. I also know, that if I do miss the chance to offer first because the other party happens to be more aggressive than myself it is important to re-anchor the conversation to keep the negotiation on the track I want it to be. There are also a few things I

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