Negotiation Report Med Lee

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.

Explain and describe what parts of the interaction employed effective listening and speaking in 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.

Negotiation occurs on a regular basis in a daily life and individuals negotiate in business occasions or outside of the workplace. Having superior negotiation skills is conductive to the success in personal life and career development. This essay will indicate that my natural preferences for different influencing tactics, comparisons between theory and practice, and a personal action plan to improve negotiation skills based on the role-play activity in my class.

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?

Facts: Provide a brief overview of key events (How was the time allocated? Offers: opening-offer and counter-offer, as well as progression of offers? How was information exchanged? Were there pivotal turning points?)

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.

1.      Why have the negotiations so far failed to result in an agreement?  Is the formation of the JV between Nora and Sakari the best option for both companies to achieve their respective objectives?

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).

Last fall, my wife and I put our home up for sale. Our motivation was simple, with the money we would get from the sale of our home we could pay off all our debt and have plenty of money left over to invest, eventually saving enough to buy a bigger home. Emboldened by the allure of liquidity I listed our home for sale and waited for the offers. Indeed the offers did come in, in fact over the next few months we were in and out of escrow three times.

The second negotiation point is stock options. Given that the standard number of stock options received by executives entering Whole Health at Monroe’s level is 10,000, I would propose receiving that same amount but with the addition of 5,000 shares for each new contract awarded (up to 3) that first year while being able to maintain the existing contracts. Stock options is one benefit that carries large gains as the company grows. Given that the CEO was an on-site health service delivery industry leader with proven ability of large scale growth, options would be lucrative. To then be in a position to add to that organic growth, provides more stake and investment in the success of the company.

The first thing that stood out to me during this negotiation was that everyone was working together instead of working just for their own personal interests. I could see the evolution of every ones’ negotiation skills since the Russian Railroad negotiation. I learned that negotiating salaries is much more difficult than negotiating deals for money. When one of our group members lost her job, we decided to give all of our bonus money to her to make up for it. We thought we tried everything possible in order to prevent her from losing her job. Negotiating salaries made the negotiating feel real. No one wants to lose their job, so it added a lot of pressure on all of us to make things work.

Although the negotiation turns out to be a half failure, my insight on natural preferences for different types of influence tactics is improved. First of all, before engaging in a negotiation, you have to clearly know what the ultimate goal is for the negotiation and all those bargaining skills and tactics should centre on the objective of the negotiation. Second, knowing your negotiation partner well is extremely important and could play a significant role in reaching the goal. Comparing to my prior knowledge, knowing your partner of the negotiation is definitely a noticeable oversight. Thirdly, after all those preparation work, appropriate influence tactics should be selected to match the characteristics of the other party in the negotiation. For this point, I was much inspired when I saw the others doing the negotiation and they were good at analyzing the negotiation partners and taking advantage of their subordinates’ weakness. For example, one of my classmates used emotional appeal to force Pat Taylor to spontaneously obey and wear the safety glasses by saying that taking the risk of losing the ability to look and see his grandchildren is not wise action and this is because that Pet always talks about his grandchildren. To deal with

Practice is the second phase for the negotiation preparation. The idea here is simple, practice reduces nerves. Ideally, I will go through the negotiation process twice with family members and friends encouraging them to use hardball tactics. I want them to be