Law 421

Step Two: Background Essay - Refer to the Step Two teacher notes in the Mini-Q. Students can write out answers to the BGE questions or the questions can simply be discussed.

Directions: Read the case study below and complete the questions at the end. You will form small groups in class to collaborate and produce your final answer.

Read the “Theory to Practice” section at the end of Ch. 6 of the text.

Read the “Theory to Practice” section at the end of Ch. 6 of the text.

3. Define any key terms that you feel are important in answering the following question as they are defined in the textbook and explain, in your own words what those definitions mean, and then thoroughly analyze each situation to answer the following questions.

Read through the questions below and respond in the answer box provided. Incomplete of incorrect responses will be returned for further work; your tutor will supply guidance through feedback.

Use the Case Study presented here to answer the questions below. Your responses should demonstrate your understanding of the course content and your analysis and critical thinking; you are not expected to just

3. Theoretical Approach: State which theory you might use withe the client and provide your rationale.

The first category of stakeholders in this case are the executives and managers. Their consideration is that the business strongly relies on partners helping them in the provision of the best value products to their customers. Retailers become increasingly dependent on strong managerial relationships in providing the best quality products within their customers’ optimal price points. The second category of stakeholders are the Medicare, Medicaid, and VA patients. These are the main cutomers of PharmaCARE. They are mainly interested in quality customer service as well as top-range products to address their needs (Jennings, 2010). For this reason,

Now, lest make a decision and decide to negotiate. The first question that comes to mind is what people should do if they decide

Several factors weigh in Chou’s favor in terms of the parties’ objective intent to contract. First is the initial agreement, BTT’s willingness to pay Chou $25,000 for exclusive rights to a 90-day period to negotiate a written distribution agreement, and his acceptance of that offer shows both parties had an objective intent to contract for the distribution of Strat. Second, the e-mail from BTT’s manager, before the expiration of the 90-day period, stating “Strat Deal” and outlining the key terms and conditions of the agreement, and BTT’s acceptance of those terms, shows BTT’s objective intent to contract. Finally BTT’s follow-up fax

For additional advice on how to complete this assignment, refer to the Preparing Assignments page (a link is also provided in the Evaluation block on the course homepage).

Simply there had been very little preparation and further there was no best alternative (BATNA), which are vital before any type of negotiations begin to avoid an unfavorable negotiation. This could have been rectified by utilizing “10 Point Plan Before Negotiation” and devoting an ample amount of time for preparation to items such as goals, interests, strategy, BATNA, research, tactics-actions and roleplaying. The end result is one that has looked at both sides of the negotiation and the issues. The BATNA would have answered critical questions before accepting any deal during a

Highlight any variances between theory and practice in Qs 1 to 3 above, using illustrative examples.

For this negotiation, I had prepared my BATNA (Best Alternative or a plan B in case my plan A failed) as mentioned by Fisher, Ury, and Patton (1991, p. 100), since every negotiator has a BATNA including the opponent. As a station owner, I was very clear about my interests in selling the gas station, I had done my market research, and I also knew “why” Taxoil was interested in the station and that they were looking to expand. As stated by Sebinus in his article, I was trying to understand the other side’s perspective.