Assessment Title: Negotiation Role Play & Summary

Assessment Description

You will engage in a negotiation for the sale and purchase of a commercial asset such as a business or a piece of real estate.

You may be nominated to represent the vendor and will receive email instructions from the vendor company CEO including:

1. Appointment to represent the company as their agent for the sale of the commercial asset;

2. Specific details about the commercial asset;

3. Information about the status of current negotiations with an alternative potential purchaser;

4. Information about a new potential purchaser;

5. Contact details of the agent appointed to represent the purchaser.

Alternatively, you may be nominated to represent the purchaser and will receive email instructions from the purchaser company CEO including:

1. Appointment to represent the company as their agent for the purchase of the commercial asset;

2. Specific details about the commercial asset;

3. Information about alternative assets the company is considering purchasing instead;

4. Information about the vendor;

5. Contact details of the agent appointed to represent the vendor.

Stage 1: Pre-negotiation

You must answer the following questions:

1. What is your thinking style preference form - monarchic, hierarchic, oligarchic, anarchic - and what is your thinking style level - internal, external?

Attach copies of completed Sternberg-Wagner Thinking Style Inventories.

2. Are your thinking style preferences - form and level - optimal for conducting this negotiation? Explain your answer.

3. What adjustments (if any) could you make to adapt to a more optimal thinking style for this negotiation?

4. What is your client's BATNA? What is your client's reservation value?

5. What is the other party's BATNA? What is the other party's reservation value?

6. What is the ZOPA range? What is your strategy for claiming the greater proportion of the ZOPA?

Stage 2: Negotiation

You must:

1. Enter negotiations with your counterpart for the sale and purchase of the commercial asset;

2. Maintain a communications log that captures the date, method, items discussed, and outcomes of each communication.

Stage 3: Post negotiation

You must prepare a short report (1 page) to your client advising the outcome of the negotiation.