My First Negotiation : The Cornerstone Of Successful Negotiation

1604 Words Oct 15th, 2015 7 Pages
Mana, my third child, showed up in my study room and asked for help in her homework, we negotiated that while I’m writing my paper you write down all your problems and I will help you once I will be done. What we did “negotiation” this is what we do on daily basis, numerous time we are negotiating and we don’t know. “Negotiation is a process by which we attempt to influence others to help us achieve our needs while at the same time taking their needs into account”. (Lewicki, Saunders, Minton). How we negotiate is really what we are, how much we are prepared and how well we use the knowledge on negotiations as required by the situations. The study/research, literature, tactics are all the tools make you a better negotiator and result in a value creations.
1. Preparation:
“We cannot overestimate the importance of preparation - the cornerstone of successful negotiation” (Mnookin, Peppet, and Tulumello 2000). My first negotiation was on the Coffee Contract, I came prepared and knew my bargaining range, my target point and resistance point. I started by defining my objective, my needs & wants, explained my situation as well (new position cost cutting pressure). I started exploring the target and resistance point of my negotiator. I did make it clear that this brand will take us to a new standard; it is an upgrade for us. I showed my intention that I am interested in getting this brand in my hotel franchise. In this negotiation my BATNA was weak because I don’t want to continue…

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