Benefits Of Making The First Option

A skilled negotiator spends enough amount of time in preparation and planning. In the preparation and planning of this negotiation I gathered all the positive points to my advantage and planned how to put them in a sequence so that my opponent could

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

Francesco made the first offer in this negotiation process of $8000, as mentioned earlier. I think it does matter as to who puts the first offer because the first offer has a direct impact on your opponent. If your first offer is extremely inflated, the other person thinks on the higher side and may close the deal at a higher price than what he had thought of initially. However, if your offer is low, the other person will try to manipulate you in such a way that he may tend to close the deal at even a lower price that what he had aspired for. Therefore, I would always like my opponent to make the first offer so that he does not get pre conceived notions about me and is not able to manipulate me to a great

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.

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

To improve the likelihood for success, one must know what he/she will do if the negotiation is unsuccessful, what are the alternative actions, and will those actions negatively or positively influence one s ability to reach the desired goal. According to Lewicki, Barry, and Saunders (2011), having the right strategy greatly improves a negotiation 's success. Peggy has the following negotiation information:

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 chess you know the pieces but you can’t see into the other person’s mind. In negotiation you don’t necessarily know the ‘pieces’. You have to discover and develop your own pieces and find ways of uncovering your counterparts’.” The Essentials of Job Negotiations, (2011)

It is a complex social process which already becomes part and parcel of our society.

Preparation is first stage of negotiation process which starts with defining the key goals which means -what are the person’s expectations from the negotiation process? Also person involved in Negotiation process during preparation he should decide his or her BATNA- Best Alternative To a Negotiated Agreement. Identifying key issues in negotiation, setting priorities and

I feel that the most important part of negotiation is relationship building. When you build a solid relationship on trust, you are more likely to come to agreements even if you have to come up with different alternatives. I know that when I buy or negotiate things, I like to go to people I have a solid foundation with. If I don’t know someone then I ask

Negotiators use both of these strategies when developing multiple offers. For instance, we knew that we needed to make concessions to the development corporation in order for them to agree to a deal. By developing our multiple package offers we were forced to decide which issues we were willing to concede on for each package. Having these concessions included in each offer also made us appear to be fair to the other side.

By taking this course, we have learned the different types of negotiations and the strategies to be used in

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.

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.