Reflective Journal on Negotiation

1186 Words Oct 16th, 2013 5 Pages
Reflective Journal on negotiation
Part 1
In the past four weeks, my study group members and me had took part in three negotiation simulations. The first one is that we are Newcastle local car dealer and want to sell used car to Japanese international student ( other group ).In this negotiation simulation, we keep our price first, let other group know the market price of this kind of car and let them give the price in their mind, then base on this price we give a 25% higher price with 1 year volunteer to them.In this negotiation, our strategies is Let the other party bid.( Benton, W. C ). Though in Then in the next week negotiation simulation we play a famous person Ltd versus Stephenie Meyer, and ask booksellers spread our book.At this
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Part 2
Before the final negotiation simulation our group have hold three meetings,first meeting we analysed to the responsibility of each role in this negotiation and made each member know which role is suit for him.In second meeting, we reach the information what we want in each role. And third meeting we organized the informations which found by each group members and made a plan to the final negotiation simulation. I play the C.F.O of Zijing Mining in the final negotiation simulation. I reached the finance information from Authoritative third-party research institutions like J.P.Morgan and the company reports.I found that from 2011 the growth rates of Zijing Mining in net sales, EBITDA,EBIT, Earning before Tax, Net Income and Cash Flow are all keep 100% increase.After the Company acquired 89.15% interest in Norton Gold Fields Limited, the enterprise value of Zijing Mining Group Co. Ltd increased to 8127.51 million USD.The Profitability Ratios for Zijing Mining is higher than other Mining group companies.Its ROA keep 8.71% increase,ROE take 19.59% increase each year and ROCE also keep high speed about 16.78% in last 5 years.Although Rio Tinto Limited is the investor, all the company data is lower than Zijing Mining.I think this is one point of this negotiation we can get more value from Tinto.
Financial…