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It seems that we will have a very active and dynamic day which will be our opportunity to apply what we have learned through this course. The simulation materials shows that we will have a tough and sensitive mock negotiation meeting which is almost a real one. The materials include all important details to make it beneficial and practical. Unlike previous exercises, parties here should be concerned about various issues and factors at the same time and the learned lessons from this exercise will be from different fields.
My team and I will represent Boston Opportunities Worldwide, “BOW”. Our goal is to get not more than 10% of ANT. Therefore, we will try to find a partner who wants to and is able get the other 10%. I’ll suggest Nagoya Life Insurance Company “NALI” to my team as the best potential partner. I’ll do that because NALI’s investment management policy is similar to ours. They wants the separation of owners and managers and lets managers do their job with little meddling from above. NALI also has established itself in the Middle East and in Istanbul which means a safer investment. While EUTEL’S ambitions for ANT may cause some problems with current top-management at ANT. This may hurt and slow ANT’s ability to transform itself and grow with Turkey. For that, it would be better to have NALI as a partner rather than EUTEL. However, that does not mean that EUTEL is not an option to us. EUTEL is familiar with telecommunication industry more than NALI and its history indicate that it may a be very active investment partner. Also, Their ambitions for ANT is not expected to cause clashes in the near short period, which is our planned period, but in the long term period. Moreover, we can include some terms that can prevent su...
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...ve to various public policy concerns such as providing basic telecommunications services to all Turkish people regardless of where they live and providing jobs. We will try to do that while we still are able to keep the government from interfering excessively in ANT’s long-term strategy. After convincing TAD, We should inform CORA and ANT about what we have done and ask them about their opinions. If they ask for some minor changes or even noticeable ones that do not exceed our limitations, we will make them. I said flexible strategy because we will not have specific terms or conditions that must be included except one. Our offer price will depend on the outcome of the meetings especially the TAD meeting and what assurances we get. Our only red line will be a term limiting ANT’s ability to spend more than $ 20 million on any project without BOW’s review and consent.
Lewicki, J. R., Barry, B., & Saunders, M. D. (2011). Essentials of negotiation (5th ed.). New
The strategic recommendations provided will improve and enable the business to cope with the competitors, while the implementation of the strategy section will outline the way to go about achieving these alternatives in the business setting. Lastly, we put up a discussion on the evaluation procedures and necessary controls for the business. In the case study, it was discovered that there were sources of opportunities in which the company would invest.
In the negotiation for the Federated Science Fund I represented the Stockman Company. The meeting started with a caucus between Turbo and I which set the tone for the negotiation. In the five-minute caucus, we understood that we get the highest payoff by working together and decided to only form a deal with United if it benefited us. This was the main turning point in the negotiation as we returned to United with only high-ball offers: we opened with $220,000 each for Stockman and Turbo, and went only as low as $200,000 each, with $80,000 for United. United presented counter offers throughout, but all of them were below our $200,000 reservation point. Even though United continuously demanded a more inclusive deal, we saw no real benefit and made a deal by splitting $440,000 evenly.
Identify and work the BATNA. Also be aware of other negotiator’s BATNA. Remind other negotiator the advantages of TexasAgs offer relative to their unpredictable BATNA. Remind them in subtle way their BATNA is not as strong as it looks. The new production facility of competitor will not be operational until 1987. Resell rights, favoured nations and meet competition are not industry norm and they would not get it even with new competitor. (Lewicki, Saunders, Barry, 2011, p. 258).
Lewicki, R., Saunders, D.M., Barry B., (2010) Negotiation: Readings, Exercises, and Cases. 6th Ed. McGraw-Hill Irwin. New York, NY
Although no agreement was made, this simulation taught me a lot about dealing with group negotiations. The hardest part of this whole thing was that I had to deal with multiple parties, each with their own strong opinions. Overall, I am very pleased at how I handled myself and don?t think I would do much differently in the future. However, as is always important in business, I need to make sure my emotions do not interfere with the task at hand. I cannot take no?s as a personal rejection, but rather try to understand why they said no, and how I can persuade them to choose otherwise. Another thing that I will practice in the future is not to give up my strategy if an argument arises. I always try to do a mix of the Push and Pull styles and cannot let others move me from this middle. When the FED rejected the proposal I was suddenly turned into a Push Style negotiator and thinking back, that was not the right move.
AT&T Case depicts the history of 130 years old giant company, which served its customers in telecommunications area. From its foundation by Graham Bell in 1875 to the restructuring decision in 2000, the company had many key events to be studied in terms of several strategic management point of views. This paper mainly focuses on external environment issues and corporate-level strategies.
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.
...ide whether it should be getting better at what it is already good at or whether it should be looking toward higher order capabilities that are beyond the old. The strategic vision of AT&T must be adjusted to reflect their intent of being ‘boundaryless’ and to become the leader in the infocom industry. It must become the companies culture.
Lewicki, R. J., Barry, B., & Saunders, D. M. (2007). Essentials of Negotiation. New York: McGraw-Hill/ Irwin.
Lewicki, R. J., Saunders, D. M., & Barry, B. (2010). Negotiation: Readings, exercises, and cases. New York: McGraw-Hill Irwin
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.
China Unicom and S.K can make use of the strategic arrangement to reduce the financial risk of their individual company. For example, when two companies jointly invested with an equal part in a project, the greater potential that each stand to lose is only half of the total project cost if not 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.
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.