I thoroughly enjoyed this negotiation exercise. It was complex, intense and interesting. As Shakespeare said, “the swiftest hours, as they flew”, the three hours went extremely fast. It was quite interesting from the fact that on one side, our team Lululemon was a single entity, with a common goal that was clearly driven from the top. This gave a clear structure and purpose. On the other side, the Ozz-Zee team was a multi-party entity with varied personal interests, trying to achieve a common goal. This disparity was inherent in the case and it caused a difference in the team dynamics, which was clearly visible during the negotiation. I can confidently say that we had a winning strategy leading to a successful outcome. This is evident from the fact that we met the objectives that we laid out before the start of the negotiation. Also, I believe that the outcome was fair and satisfactory for both parties. Overall, we were well prepared for the negotiation. We planned the negotiation meticulously and worked it per the plan for the most part. All the team members were well prepared with the case details and understood their roles. During the preparation phase, we drew our strategy with critical details as elaborated in the preparation sheet. We evaluated the SWOT of either side and assessed the …show more content…
We asked some “good” questions. We questioned Ozz-Zee team on the validity of their $100M number. We also provided a rationale and objective reasoning for our $9.5M offer. It started getting intense at this point as we went back and forth, both in terms of the final number and the details on other terms of revenue sharing on merchandising. There were different flavors being proposed by different members of Ozz-Zee and we were not hitting a common ground. We called for few caucuses to defuse the situation and to give the adversary a chance to regroup and work out a joint Ozz-Zee
Gina Blair and Daniel Trent cooperate and collaborate to achieve a common objective throughout their negotiation. A cooperative negotiation style is demonstrated as they combine their points of view regarding their clients concerns with outcomes to effectively solve the issues raised. The main focus of the negotiation is to reach an agreement rather than a continuous dispute. Accordingly, the conflicting objectives were resolved by compromises and solutions but forward by both Gina and Daniel. The negotiation style used between Gina and Daniel is described as principled negotiation where both parties jointly attack the problems arising to achieve a compromise.
Our team approached this negotiation case in a very efficient way. Each of us had a very clearly job assignment. Two people took care of the calculation while the other two people were responsible for the negotiation. Thus we quickly built up a model and provided several options to our counterparts with different terms but same net value of the final bargaining agreement to our team.
Identify the strengths and weaknesses of Hauptman's and Zinnser's negotiating strategy. How effectively did Hauptman and Zinnser approach the negotiation?
Summary: This was a multiparty negotiation, which involved 6 players all with very different negotiation styles. It was an exercise in which teams easily form a coalition. There were concessions about the value added each team would bring to the “table”, and my team in a situation of power saw how negatively the other teams reacted in name of fairness and how important was to share the pie.
4.1. 4.2. 4.3. 4.4. SWOT Analysis ............................................................................................................ 17 VRIO analysis .............................................................................................................. 18 Possibility Statements .................................................................................................. 20 Overarching Strategy Selection
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?
This report has been created with the intent to analyze the athletic apparel industry with a specific focus on Lululemon Athletica, Inc., further refered to as Lululemon. In this report you will find that the strengths and weaknesses of Lululemon’s current strategies and future goals are analyzed and compared to that of its closest competitors. In conclusion to the analysis, recommendations have been made to potentially guide Lululemon Athletica, Inc. in a positive direction in regards to its future endeavors. The following
The next three issues we negotiated were editorial control, preproduction budget, and post production schedule. Again we logrolled with the issues and came to an agreeable decision. The outcome of the negotiation of this particular bundle was evenly distributed. I felt that the director was willing to collaborate with me on these issues. I wanted the entire negotiation to follow the concept of the integrative negotiation process by setting the tone of the negotiation as a win-win. Reflecting on how the negotiation was going to this point I felt that I may have conceded on more of the issues than the director, but the hope was that the director would concede on the issues that were important to me. I felt I was sensitive to the director’s
In our recent negotiation, my partner Dave and I assumed the roles of Alan Hacker, a computer software developer, and Alan Hacker’s lawyer. Being the lawyer in the negotiation my objective was to avoid litigation with my client’s partner Stanley Star and to aid in the continuation of my client’s co-owned company HackerStar. In addition, I would assist Hacker in coming to an agreement that would be satisfying for him both personally and financially. I felt that Dave and I presented a reasonable argument on Hacker’s behalf and, since I was able to apply some of our class readings during the process, I was overall pleased with the outcome.
This purpose of this paper is to incorporate the basic microeconomic concepts that have been taught with a commodity that will be appropriately analyzed, describing the genuine theories affecting the company and specifically the product chosen. Lululemon Athletica is a perfect example of a company who sells several lines of apparel to the public and has been highly lucrative by doing so, especially in their women’s fitness apparel market. Lululemon’s yoga pants have always been one of the best and year after year has continued to reinvent themselves and improve in so many different ways. The following essay will be split up in several parts, including the product itself, in this yoga pants, a brief history of Lululemon Athletica as a company, the price elasticity of demand for yoga pants, and finally the market structure of which this product falls into.
Prepare responses to the questions below after viewing the Negotiation Strategy and Tactics Tutorial in this week's lecture. In drafting your answers to the questions, make sure that you apply course concepts in your answers.
This paper commences by defining the problems that were faced by Lululemon Athletica Inc in 2013. After, the author explores the causes of the issues that the company was experiencing and the effects that they had on Lululemon Athletica Inc. The next step is to look at ways in which the issues could have been addressed both for the short-term and long-term. When all is said and done, the audience will fully appreciate why “Lululemon Athletica Inc should revert to its fundamentals – that is, to concentrate on the needs of the consumer”.
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).
To comprehensively evaluate the success of the negotiations, there has to be a panoramic range of measures to ensure favourable and/or fair outcomes on all fronts. ACME Engineering crafted measures to expand the definition of success, some of which I used to discover successes and failures in different aspects of the negotiations (Ertel 1999, pp. 60-62).