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Strength and weakness of negotiation strategy
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Negotiation, as we’ve learned, is the process of communicating where parties can discuss problems and/or targets and attempt to solve them via dialogue in order to reach a resolution. While many individuals feel successful negotiations are due to a natural skill, the truth behind reaching a prime agreement is preparation. You need to know the issue, know yourself, and know your party. This type of preparation also includes knowing your needs and limits, understanding what the other party wants and anticipating their limits, asking the right questions, and being creative in your counteroffers. Good preparation allows you to strategize with the ability to think quickly in the negotiation room. There are several different formats and styles of negotiations. The use of a certain style depends on elements such as the strength of the relationship, the urgency of the situation, the intricacy of the issues, and the content of the negotiation. Each format and style has its own strengths and weaknesses and can be strategically used in various types of situations. As mentioned, the preparation of a successful negation is necessary, especially concerning your BATNA. We have been able to explore such preparation and methods by participating and conducting negotiations with our peers. The following negotiation studies proved to have their own dynamic, thus accounting for a different preparation and negotiation tactic for each. …show more content…
The BioPharm-Seltek case is designed to show how a negotiation is setup and understand the basic principles. In this context, the case is orientated so that a positive zone of possible agreements exists. This means that both parties have reservation prices that fall within each other. A reservation price is the absolute lowest/highest a party would sell/buy
Lewicki, J. R., Barry, B., & Saunders, M. D. (2010). Negotiation: Readings, exercises and cases
In order to estimate the possible impacts of introducing Oxyglobin as a major product, it was assumed that Biopure would be able to produce and sell its full capacity of 300,000 units per year. As can be seen in Exhibit 1, the results of such an aggressive marketing strategy would yield a positive gross margin of between 49% and 66%, assuming the product was sold at a price of $100 to $150 per unit.
I included this paper because I enjoyed the discussion about the qualities of a good negotiator. Good negotiators are usually people who are respectful others, can develop a strategic negotiation plan, and understand you have to think about certain things, like the “big picture” of a situation in order to generate creative options (Dietmeyer, 2008). One of the reasons why I included this written work in my Artifact, was for the second part of the assignment, we were required to describe a conflict scenario. For that conflict scenario, we were to evaluate reasons as to why utilizing negotiation would be wrong for that situation. Next, we were allowed to take the opposite approach, and list reasons as to why we should use negotiation techniques for the conflict scenario. I always enjoy getting to do assignments that look at both ends of the spectrum: “why should we do something and why should we not do something.” If you have ever been in therapy, it sort of like doing the “empty chair exercise” that some therapists ask you to do when a client is experiencing conflict. And essentially, the whole point of the exercise is for the individual to be able to experience different aspects of a conflict in a new manner through the “empty-chair”
Alternatives. This is where Best Alternative to a Negotiated Agreement (BATNA) comes in. As Ury states, it is the best course of action for satisfying your interests without the other’s agreement. The more viable your alternative is, the more leverage you have over the other party, and the more power you have in the negotiation. In order to fully utilize the advantage of BATNA, you should be able to consider three kinds of alternatives. The first one is the “walkaway” alternative—what can you do all by yourself to pursue your interests? If you do not like your job, you may find another job. Second, what can you do directly to the other side to make them respect your interest? This is the “interactive” alternative. A popular example would be a hunger strike. The last one is the “Third-party” alternative—the how can you ring a third party into the situation to further your interests? An example would be to go to mediation. After identifying these three, the next logical step is to choose which is the best one to satisfy your interests. Ury emphasizes to keep your BATNA hidden, your safety option. In case of emergency, at least you still have an
Negotiations are supposed to begin in a positive way in which the negotiators consider the needs and wants of the others involved and their shared interests and interdependencies.... ... middle of paper ... ... References Michael R. Carrell, C. H. (2008). Negotiating Essentials: Theory, Skills, and Practice.
A key fundamental of successful negotiation is to be confident in what it is you desire to attain and also what you are prepared to settle for. Another key fundamental is to know what the other persons needs and objectives are in other words know what their strengths and
Lewicki, J. R., Barry, B., & Saunders, M. D. (2006). Negotiation: Readings, Exercises and Cases (5th ed.). New York: McGraw Hill.
In the future, I would try to have a strong and always try to enhance the BATNA. Also, based on my counterparties approach, I will try to respond to the hard tactics appropriately, Call them on it; Respond in Kind; ignore them and Offer to Change the Methods. I will ensure that I have done my research and I am well prepared prior to the negotiations. I would try to look for ways which could lead to a win-win situation for both parties
Negotiating styles are grouped into five types; Competing, Collaborating, Comprising, Avoidance, and Accommodating (Colburn, 2010). Even though it is possible to exhibit different parts of the five types of negation styles in different situations, can see that my tendencies seem to default to, Compromise and Accommodating. In reviewing the course work and reviewing my answers for Questionnaire 1 and 5, I find that the data reflects the same assumption. The accommodating profile is one where relationship perseveration is everything and giving what the other side wants is the route to winning people over. Accommodators are well liked by their colleagues and opposite party negotiators (Colburn, 2010). When analyzing my accommodating tenancy in negations, I find often it is easier to give into the demands when they are within a reasonable range. I often consider it the part of providing a high level of customer service. It has been my experience that continued delaying and not coming to an agreement in a topic will only shorten the window in which you will have to meet the request since. The cons to this style are by accommodating highly competitive styles the accommodator can give up to much ground in the process. “Giving away value too easily too early can signal to your negotiation counterpart that you've very deep pockets, and your gift is just a taster of bigger and better gifts to come”. The other negations type I default to is compromising. Compromising “often involves splitting the difference; usually resulting in an end position of about half way between both parties’ opening positions” (Colburn, 2010). In the absence of a good rationale or balanced exchanged concessions, half way betwee...
Lewicki, R., Saunders, D.M., Barry B., (2010) Negotiation: Readings, Exercises, and Cases. 6th Ed. McGraw-Hill Irwin. New York, NY
During this course, I have learned a lot about negotiating. We learned about almost every negotiating technique there is. We learned about cross-cultural negotiations, body language, Best Alternative To a Negotiated Agreement (BATNA), variables in negotiating, and many more. Before this course, I did not know that much about negotiating. I thought that negotiating was just about trading or convincing someone to give you what you want and you did not care about the other side, resulting in a win-lose. I now know that negotiating is about getting what you want, but also giving the other side what they want as well to result in a win-win. This paper is about how I am going to improve my negotiating skills over the next six months. In order for me to improve my negotiating skills, I believe I need to improve the following skills- my body language, communication, planning, and my interpersonal communications. By improving those skills, I can become an effective negotiator.
...w to apply these tactics into practice. Understanding the meaning of each tactics is just the first stage, flexibility in the use of appropriate tactics in future issues is more important. Besides, I need to make a detailed plan before the negotiation. Firstly, analyzing the interests, perspectives and weak points of the opposite side and selecting suitable tactics. Secondly, preparing several response strategies will help me to control the situations. Thirdly, setting the minimum level what I can agree on the issue is also essential part of negotiation.
Negotiation is widely practised in the business industry as the product prices and the cost of services offered by the
Negotiation approaches are generally described as either distributive or integrative. At the heart of each strategy is a measurement of conflict between each party’s desired outcomes. Consider the following situation. Chris, an entrepreneur, is starting a new business that will occupy most of his free time for the near future. Living in a fancy new development, Chris is concerned that his new business will prevent him from taking care of his lawn, which has strict requirements under neighborhood rules. Not wanted to upset his neighbors, Chris decides to hire Matt to cut his grass.
According to Barbara A. Budjac Corvette, the author of Conflict Management A practical guide to Developing Negotiation Strategies there are five phases in the negotiation process: preparation, introduction, initiation, intensification, and closing. In this paper I will define the five phases of the negotiation process, describe an observation of that development from a scene in the movie 12 Angry Men, what I have learned from Juror #8, and how I can apply this knowledge to my professional and personal negotiation strategies.