Reflection Paper: Texoil (from the point of view of the sellers) Planning for this negotiation was more difficult than the first negotiation in class. The first negotiation had a point system; therefore I knew what the maximum, minimum and average amount points were. Not only does the Texoil negotiation not have a point system, but there were two people on my side (sellers) and only one on the other side (buyer). My partner and I played the roles of the sellers. Prior to the negotiation we discussed what our reservation point, our BATNA and our target point were going to be. The reservation point was basically given in the write up of the case. We needed $488,000 after taxes or $580,000 before taxes. If we received less than this we would not be able to continue our plans to sail around the world. At this point we had not discussed attempting to make the pie bigger and pursuing the option of working when we return. We decided that we would not tell the buyer about my exhaustion (wife) or that we needed the money to sail around the world. We were afraid that he would use it against us. Our BATNA was that we could continue working there, perhaps hire someone in place of me, since I am not supposed to work 16 hour days. This is not a strong BATNA, as I do not know that we could afford to hire a new person, as well as we already sold our condo, and put money down on the boat. Als... ... middle of paper ... ... about myself as a negotiator. If one of the other people did not have the idea to expand the pie, we would have not come to an agreement. I noticed that I stuck to the case like it was the guide to life. I realize in order to make the negotiations work; I will have to learn to think outside of the box. I do not believe that I am a strong negotiator at this point, but I think I have already learned a lot about negotiation. I am now firm believer that the more information on the table, the better the outcome for both sides. On my next negotiation, I am not going to hide information and I am going to try to overcome any bias that I hold. I am going to see where it gets me to just tell the whole truth. Reference Fisher, R & Ury, W (1991). Getting to Yes: Negotiation Agreement Without Giving In. Penguin: New York
Bargaining and negotiation are part of everyday lives and in the case of Smith and Fischer an initial bargain agreement was established. BATNA or Best alternative to a negotiated agreement is defined as the best method that can be used to convince...
Communication skills are important in professional negotiations and in personal life. This book discusses why we find some dialogue difficult, why we avoid it, and why we often address it ineffectively. Most important, the authors suggest methods for more effective, productive, and rewarding, interaction.
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.
Negotiations styles are scholastically recognized as being broken down into two general categories and those are distributive bargaining styles and integrative negotiation styles. Distributive bargaining styles of negotiation are understood to be a competitive type of negotiation. “Distributive bargaining, also known as positional bargaining, negotiating zero-sum, competitive negotiation, or win-lose negotiation, is a type or style of negotiation in which the parties compete for the distribution of a fixed amount of value” (Business Blog Reviews, 2011). This type of negotiation skill or style approach might be best represented in professional areas such as the stock market where there is a fixed goal in mind or even in a garage sale negotiation where the owner would have a specific value of which he/she would not go below. In contrast, an integrative negotiation approach/style is that of cooperative bargaining, or win-win types ...
Whether or not we are aware of it, each of us is faced with an abundance of conflict each and every day. From the division of chores within a household, to asking one’s boss for a raise, we’ve all learned the basic skills of negotiation. A national bestseller, Getting to Yes, introduces the method of principled negotiation, a form of alternative dispute resolutions as opposed to the common method of positional bargaining. Within the book, four basic elements of principled negotiation are stressed; separate the people from the problem, focus on interests instead of positions, invest options for mutual gain, and insist on using objective criteria. Following this section of the book are suggestions for problems that may occur and finally a conclusion. In this journal entry I will be taking a closer look at each of the elements, and critically analyse the content; ultimately, I aim to briefly bring forth the pros and cons of Getting to Yes.
The most common negotiation that was used several times was voting for the majority just to get it over and done with. A few examples would ...
Preparation for the negotiation took around forty minutes. The contract was breached by us (Wood Crafters) and there was no supporting document. Our options were bankruptcy or selling the house. The opening offer was made by Viking. Wood Crafters could see that Viking felt that they had the power/rights which led to the distributive approach. Initially, Viking was pushing for Wood Crafters to pay the over-run, the loan and the rent but Wood Crafters pushed against it. Wood Crafters argument was that the over-run project was approved by Viking secretary, therefore, Wood Crafters offer was to file a bankruptcy which believed to be the best option at the time. By filing a bankruptcy, Viking would not be
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.
McCarthy, A. (n.d.). 10 rules of negotiation. Negotiation Skills. Retrieved March 31, 2014, from http://www.negotiation-skills.org
Negotiation has been used as a vital communication tool not only in business but also in social intercourse. It helps people make common agreement and avoid conflict. So we need to use the tactics which we learned from this course and books to do more practice, only in this way we can gain advantages in negotiation.
It is always useful to have some negotiation strategies planned out and to outline the manner in which the talks are to take place. Even so negotiation behaviour can be a critical factor to the success of the negotiation. “Negotiation behaviour is shaped by a complex set of factors, include personality, cultural values and emotions” (Osman-Gani and Tan, 2002, p. 822). Emotions and tempers can often run high during negotiations. All mankind have emotions, even so as Fromm (2004) explains emotions can help us understand differences and find resolutions to complex situations.
Lewicki, R. J., Barry, B., & Saunders, D. M. (2007). Essentials of Negotiation. New York: McGraw-Hill/ Irwin.
Negotiations are a natural inclination for human-kind when enough pain has been endured and the chances of victory do not inspire confidence. The