A Short Note On Corporate Credit Card Agreement With American Express

What surprised me the most about our behavior was how well we collaborated. At the beginning of the negotiation, I usually spend a bit of time trying to assess how the other party will negotiate (compete, collaborate, or subordinate). From the beginning of the negotiation, it was very clear that Texoil valued our relationship, was very interested in me coming back to work for them, was concerned about my wife, and was interested in my future plans. This created the right tone for collaborating. This created a basis of trust and openness, which led to creative options, which would not have been possible if one party decided to negotiate competitively. Both parties did a good job of asking questions to delve at the underlying interests, which allowed for give and take, and enabled each side to put forth proposals which could be openly considered. If the tone of the negotiation had been different, I think the Negotiator’s Dilemma might have prevented information from coming out and prevented interests to surface, and thus prevented creative solutions.

Going into this negotiation as the VP of operations my goal was to primarily succeed in buying the restaurant. Prior to starting the negotiation, i identified several certain non monetary concessions that could be made to sweeten the deal such as paying a percentage of travel expenses, and also allowing the restaurant owner

Review the facts provided and the sample contract. What provisions of the contract could you cite to support an argument that it is not in Big Banks best interest to rescind the contract? What facts could you cite to support an argument that Big Bank be responsible for some of these issues and/or not in compliance with the contract?

Negotiations are something that everyone experiences and does at some level. Even if informal, people negotiate and barter using what they have to offer to get what they want all of the time. However, there are times in life where the negotiations are much more serious and the stakes a lot higher. Whether official or unofficial, there are negotiation tactics and conditions that should be watched out for because they are a sign of potential problems.

I believe that the negotiations worked well with all of the parties involved, and made sure to include terms from all parties as well. All parties have their own beliefs and needs, I think if everyone can remember to take in account everyone else’s beliefs and needs, and also remember to be respectful that even with only some of your needs being met you can accomplish your goals and feel good about the decisions.

We should be prepared. Also, we need to hold firm to our principles. Do not forget we have something the supplier wants; they need us as much as we need them. When something is important to us, stick to our guns. Suppliers will respect us for it. Moreover, we do not be intimidated. We do not automatically accept the contract terms a supplier suggests/offers us. Remember that it is their job to get the best possible outcome for their company. However, that is our job too. Furthermore, acknowledging the strengths in the supplier’s proposal or positive past performances before identifying weaknesses can make them more receptive to considering our point of view. Additionally, we have to Control the Negotiations. We have to leading the agenda, tabling the objectives, and control the pace of the meeting all help to assert our position in the negotiation process.

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).

The TexasAgs oil company case study gave us insights on different aspects of a negotiation that can happen in real world scenarios. It elegantly portrayed the importance of having a BATNA, setting target and restriction points, impact of the fluctuating markets on the ongoing negotiations, downside of the emotional behavior, importance of having a third party member or mediator in the negotiation. The case illustrates that the negotiations should be based assumptions as they may or may not be right. Having facts and understanding the other parties true objectives and goals are truly essential in negotiation. It is a typical example of how the current power on one side can dominate and take complete advantage of their position.

From the given situation, I believe that purchase contract negotiation involves clarification and mutual agreement on the structure and requirements of the contract and I acknowledge the positions of both parties to gain the first step of forming the contract. I utilize active listening and collaborative communication techniques at the first stage of forming a contract. These techniques allow me to focus on both sides must recognize basic areas of contract agreement and the importance of other terms and conditions.

Both our approaches were directed towards addressing the issues with a collaborative spirit for the greatest benefit to both sides. We agreed that both sides wanted to establish a long term a relationship with each other and were willing to give genuine consideration to each other’s particular needs and interests. This experience has enabled me to reflect on my personal approach towards negotiation, as well as analyze my strengths and potential areas for improvement as a negotiator.

The Pacific Oil Company went into negotiations with Reliant Manufacturing, and its goal was to sign a more long-term agreement prior to the contract ending in three years. Pacific anticipated that the new contract would be signed with no major obstacles or changes, and that the dominant point of negotiation

Negotiating is the art of managing power. "A negotiator’s power may be critical for the quality of his or her success…" (Kim, Pinkley, & Fragale, 2005, p. 799). There are various sources of power as well as various way to control power and its impact in negotiations. In the case of Pacific Oil's negation with its long time Reliant customer, power was significantly unbalanced to the disadvantage of Pacific Oil and its negotiators. This resulted in Pacific Oil making numerous concessions to the advantage of Reliant. However, there were many actions which Pacific Oil could have taken to balance the playing field in their negotiations, but would have required strategic planning far in advance. Pacific Oil failed

In May ’15 American Express launched a coalition loyalty program called Plenti. Under coalition loyalty programs, members can earn and redeem points by shopping at participating merchants (e.g., Exxon, Macys, Rite Aid and ATT.) The program helps consumers to earn rewards faster and lead to better engagement and provides merchants and opportunity to attract new customers and run cross-promotional campaigns. The biggest challenge in launching the program was signing up merchants and building an economic case for shifting away from proprietary programs and collaborate for collective benefit.

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.

When entering into contract negotiations, the objective of each side is to obtain a contract of greatest benefit to their organization. This desirable outcome never happens by chance; it is always the result of careful planning. A critical part of this planning is understainding the role of power. This includes determining who possesses the power in bargaining, and establishing strrategies to bargain with individiuals who have more power than you. This power is needed to obtain the advantage in negotiating which will increase the liklihood of obtaining the goal (Lewicki, Saunders & Barry, 2011). Once in the heat of negotiation, it can be too late to try to catch-up on planning which failed to occur before the negotiation process began.