Life seemingly comprises an infinite array of diverse negotiations, filled with choices to decide which ultimately result in both positive and negative outcomes. The following reflection paper relates the previous week’s course materials to an ongoing professional transaction spanning approximately 15 months. The business arrangement has identified strengths, weaknesses, threats, and opportunities -- understanding “BATNA” or the “best alternative to a negotiated agreement” has helped me to understand how to proceed with the negotiation process (Griffith & Goodwin, 2013, p.138). The following paper summarizes a variety of negotiations transpiring simultaneously throughout professional endeavors. Approximately a year and a half ago, a Farmers Insurance Group recruiter identified the opportunity to purchase a book of business with approximately 1000 existing policies in force. The benefits of purchasing the book of business included a $10,000 start-up bonus and the potential ability to achieve a 6% override bonus on the annual collected premium for all of the existing
At this point in time, the best outcome would be for the current agency owner to lower the price by $50,000.00 and take responsibility for transferring all insurance related accounts generating income to myself as the new agency owner. Potentially having a portion of the money deposited into an escrow account so the transition would better poised to transition flawlessly. Mentioning these types of considerations and factors influencing negotiation has the ability to set the current agency owner into a tailspin. Going through with the purchase agreement will take a certain amount of faith in everyone involved, including the agency’s former owner, secretary, and the district
Lewicki, J. R., Barry, B., & Saunders, M. D. (2010). Negotiation: Readings, exercises and cases
This negotiation took place between the Chief Officer of a US based company (BioPharm) and a small company (Seltek). BioPharm is operating in the pharmaceutical industry. It wants to buy or build a plant in the US to manufacture a new product called Depox. The main goal of our group as negotiators is to play the role of BioPharm to buy a plant belonged to Seltek. It is on sale. This plant is the most appropriate choice for BioPharm for a number of reasons, namely to save time and cost of building a new plant because the Seltek’s plant is running and gets the FDA approval. Besides, it also has a highly experienced workforce, which can help us reduce the cost and the time for recruiting and training new employees.
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...
Fisher, Roger, William Ury, and Bruce Patton. Getting to yes: negotiating agreement without giving in. 2nd ed. New York, N.Y.: Penguin Books, 1991. Print.
Lewicki, R. J., Saunders, D. M., & Barry, B. (2006). Negotiation Readings, Exercises, and Cases Fifth Ed. Bill Brubaker, Mark Asher, A Power Play for Howard Negotiation (pp. 616-626). New York, NY: Mcgraw-Hill Irwin.
Fisher, R., & Ury, W. (1991). Getting To Yes Negotiating Agreement Without Giving In. New
Lewicki, J. R., Barry, B., & Saunders, M. D. (2011). Essentials of negotiation (5th ed.). New York, NY: McGraw Hill. ISBN-13: 9780073530369
Lewicki, R., Saunders, D.M., Barry B., (2010) Negotiation: Readings, Exercises, and Cases. 6th Ed. McGraw-Hill Irwin. New York, NY
Brubaker B. and Asher M., (2007). A Power Play for Juwan Howard. Lewicki-Barry-Saunders: Negotiation: Readings, Exercises, and Cases, Fifth Edition. The McGraw-Hill Companies, 2007
Lewicki, R. J., Saunders, D. M., & Barry, B. (2011). Essentials of Negotiation (5th ed.). New York, NY, US: McGraw-Hill.
Most of the common activities in our daily life present an opportunity to negotiate, whether or not we realise it. Meta-reflecting upon my negotiation experiences during the class and other activities have led me to identify few common themes. In this assignment, the two themes I will be discussing are (1) the importance of being clear on the strategic intent and big picture thinking, and (2) the importance of managing the negotiation process through understanding the various phases and visualising negotiation as a train journey.
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.
Lewicki, R. J., Saunders, D. M., & Barry, B. (2010). Negotiation: Readings, exercises, and cases. New York: McGraw-Hill Irwin
Negotiation occurs almost every day in our personal and professional life. Having superior negotiation skills can be critical to the success in our personal and professional life. This essay will illustrate the negotiation style, the planning and the execution of my negotiation skills. I planned on using my negotiation skill on reducing the cost of monthly rent for the apartment. After the reading from Negotiating for Success: Essential Strategies and Skills by George Siedel, one gains success through initiating and stirring the process, and excepting there to be room for change. So, off I set to meet the landlord to negotiate a new price for the monthly rent agreement on the Lease
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.