Brief
It is a real experience that I had in my father’s company. This spring, our company planned to add one floor on the top-storey of their 3-floor office building. Before construction, our Company needed to obtain an inn owner’s permission, as the addition floor will block light shining into some rooms of his inn-- AB Inn, which locates in the other building next to our office building. Therefore, our company had to negotiate with AB Inn regarding the permission and compensation issue. I was not been assigned any works in the process because of my poor experience, but I took part in the negotiation as a minute-taker, witnessing all the details. It is obvious that the AB Inn owner did not permit us adding a floor at the beginning.
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So the essential issue of the negotiation is the amount of compensation. If we could reach or exceed the reservation point of the other side, the inn owner would like to make an agreement with us. Secondly, the general strategy is to maximize share of a “fixed pie” that is the profits of the adding floor. The area of the adding floor is unchangeable according to the construction drawing, and we earn profits from the floor in the form of leasing. Therefore, the interests of the negotiation is fixed. If we gave the inn owner more, we would get less, and vice versa. What’s more, the relationship of the parties is one time only, since the type of compensation is one-off. According to the earlier cases, the sunshine right compensation only need to be paid one time. Therefore, we didn’t have to keep a long-term relationship with the inn owner. In addition, we kept interests hidden. Just as I mention before, the adding floor is used to lease. So we can get profits from the floor continuously. But in the negotiation, we deliberately shift off this point and confused the concept of profits with the concept of annual profits. As a result, taking account all of the factors above into consideration, I conclude thatwe did not try to expand the” pie ” or share information to each other, but making efforts to maximize ourselves interests. I think it is a
Negotiations are a part of daily life whether we are aware of them occurring or not. In everything that we do there are preferred end results and the end results are likely to affect more than one person. The goal in this however, is to ensure that all parties are equally benefited from the actions and reactions that occur to create that end result. While some dealings are done in a more subtle manner without a great deal of negotiation per say there are other situations that would warrant more vocalized mutually acceptable compromises. The purpose of this paper will be to effectively explain a situation of which required negotiation on the part of both parties that almost all of us have endured and that would be the process of buying a
Negotiation and Conflict Application Paper I immigrated to the United States 15 years ago in pursuit of higher education and a successful career. I discovered that I had to significantly readjust the habits engrained in me from childhood through interacting with new people and dealing with conflicts. My traditional and conservative upbringing in India provided a sheltered environment and programmed me into listening and obeying elders and avoiding conflict at all costs. It was my belief that any conflict big or small with the close ones would cause a strain in the relationships. Thus, I often avoided conflicts and accommodated the wishes of others at the cost of my own. I considered this
This paper presents my reflections on the Negotiations: Strategy and practice coursework in the MBA program at Said Business School, University of Oxford. My paper will present various reflections on different themes of negotiation simulation undertaken by me during the course. This course has allowed investigating and reflecting on key drivers of negotiation techniques for me. I have learned that transparency and coalition are the core tenet of negotiation for me. For the purpose of this reflective exercise, I will conduct a comparative analysis of the process, dynamics and outcomes based on the themes such as negotiation styles, bargaining zones, power, emotion, coalitions, value claiming vs value creation etc. for the below-mentioned simulations:
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.
Going into this negotiation as the VP of operations my goal was to primarily succeed in buying the restaurant. Prior to starting the negotiation, i identified several certain non monetary concessions that could be made to sweeten the deal such as paying a percentage of travel expenses, and also allowing the restaurant owner
However, Candace was very skilled and duplicitous during the negotiation. While at no point did Candace lie to me. She did make the full entirety of Absentia’s plans for the property. It was later revealed to me, after the formal negotiation, that Absentia planned to develop a high-rise hotel directly behind the Bullard House. This is completely unacceptable to my constituents, however, the deal was already agreed upon by the time I was informed. Candace used the questionable negotiation strategy of deception to ensure she received a favorable deal. She knowingly withheld information that would have impact the terms of our deal. For her, the deal was a success. However, I am left feeling mislead. When I would question her about the types of commercial development that her constitutes sought to pursue, she would make vague references to tasteful additions within the property. The lack of effective question is a failure of mine. I should have begun to ask probing questions, as Lewicki suggests, when I realized that she was not fully disclosing information. Instead I allowed the ambiguous answers to be the basis of my decision
Entering Les Florets negotiation, I had set for myself rules. Besides my will to buy the restaurant, I had some intermediary objectives to help reach my goal. First, I needed to learn more about the seller’s reasons to sell. This way I could offer her different solutions to solve the situation. Second, I needed to be flexible, despite the limit of $160,000. That meant I needed to maintain a margin in the negotiation around the price, and I decided to start with a price of $140,000, saying since I am not usually in charge of buying new restaurants, I am limited in the money I can spend. This way, I could difficultly raise my offer to $150,000 but negotiate other things, notably that the seller would
People- Pat Olafson is a local investor and real estate developer. In comparison to Sandy, Pat has been very financially successful. Their relationship seems to be multi-layered. Pat plays the role of bank, landlord, and client to Sandy and WoodCrafters. While not illegal, or even immoral, allowing one person, or entity, to have so much control over your business life isn’t the wisest decision. In addition, the combination of Pat’s success and Sandy’s hardships seems to have caused Sandy to be jealous of Pat’s success. It would be in Sandy’s best interest to recognize that his perception of Pat bears no significance on this negotiation. Sandy would be best served by leaving his perceptions behind and keeping his emotions in check.
Pilgrim Assurance is a case that involves a sealed bid auction. Therefore, the auctioneers will need to sell the building to the highest bidder involved at a minimum bid of $15 million. David Bailey is given the decision to decide on how much to bid for an office building. Furthermore, he needs to make the decision whether to lease it as office space or to convert this office space into condominiums. In this case, I will analyze the goals and objectives of Bailey as well as the other participants. The sealed bid auction indicates that they are willing to take a chance on the market and try to receive high bids. There is no problem with the government participant besides using permits to do renovations. There is
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.
Looking at the parties involved in the negotiation, it was clear that each party would have agendas that would be in conflict with each other. For instance, the other ports in the region would like the highest compensation possible while Harborco would like the lowest compensation. Additionally, each party would also have a minimum threshold score that they would need from each outcome before they would support the project. Therefore, it is clear that this is an integrative negotiation which requires joint problem solving to achieve
In the "Cascade Manor" negotiation, I played the role of co-chief city planner. I was part of a team, partnered with the other co-chief city planner and the city's financial director. It was our task to negotiate a deal with a development corporation who wanted to build a residential housing community to revitalize the historic district of our city. We devised a strategy on how we would open and negotiate on the issues. Using this strategy we were able to agree to a deal with the developers, and walk away with a sizeable amount of the "pie". This paper will look at how offering multiple package deals help the negotiator claim resources, and suggests ideas on how to develop an effective multiple offer strategy.
The subject matter of the case is presented as a negotiation between a real estate developer, Hawkins, and a possible anchor tenant, Discount Marketplace. Both parties are represented by professional negotiators: Myra Hart is representing the Hawkins Company and Genia is representing the Discount Marketplace.
Negtiation is a strategic process of reconciling differences in interest and coming to a mutual resolution through cooperation that is percieved fair for both of involved parties (Fells 2012). The negotiation that was analysed in the “Enterprise Agreement Negotiation Report,” demonstrates that negotiation is not an easy process nor its orderly, since it is the activity and not the segment that determines the phase of a negotiation.
Negotiating is something that has been around since the beginning of mankind. We all start off negotiating as little kids, even for little things such as candy and toys. When we grow up, negotiating becomes sort of the norm. We negotiate consciously and subconsciously every single day. When you think about it, negotiation takes up most of our lives. We are always trying to see what we can get as a benefit without giving up much. It always comes down to the pie, how big is the pie and who can get the biggest slice. As we become adults with careers, there are ever some that become flat our ‘Negotiators’. This means that all they do for a living is negotiate. They are master negotiators and are praised for being so. When it comes to negotiation, persuasion is also within that talent. You have to be able to get what you want from people without them feeling like they are being taken advantage of and that they are also getting just as big a piece of the pie as you are getting, although in reality they are not.