Question:
Negotiation Strategy Paper Instructions
All of you have negotiated before. Whether it was buying a car, purchasing a first house, or setting a salary at a new job, you have engaged in the negotiation process. Although all of you have negotiated, that does not mean that all of you have negotiated well or effectively, especially considering the tools you have learned in this course. The purpose of this paper is to integrate the theory that you have learned in this course and apply it to a real-life negotiating scenario.
Think of a time you have negotiated over something substantial (consider the examples above or some of the examples in our textbook). Discuss how the negotiation went. What were the facts? What was the final deal you agreed upon? Did you feel as though you got a good deal? Explain the following concepts (A through M), and then answer these questions about how the negotiation progressed:
What type of strategy did you adopt (did you even have one)?
What was your opening offer?
Did you offer any concessions?
Did you use hardball topics?
What were the other party's interests?
What was your BATNA?
Were there framing issues?
Did any biases arise? Explain these biases.
How did you overcome them?
What was the communication?
Did you use nonverbal communication?
What was your negotiating power?
What ethics were involved?
Now, consider how you would approach the same situation, but with using the tools you have been learning about.
Create a Negotiating Strategy Plan. Start by answering the following questions from Chapter 4, using the table provided in Figure 4.2 of Lewicki et al.,Essentials of Negotiations:
What are the issues in the upcoming negotiations?
Based on a review of all the issues, what is the "bargaining mix"? (Which issues do you have to cover? Which issues are connected to other issues?)
What are your interests?
What is your resistance point; what is your walkaway?
What is your alternative?
Define your targets and asking prices-where will you start; what is your goal?
Who are your constituents, and what do they want you to do?
Who are the opposing negotiators, and what do they want?
What overall strategy do you want to select?
What protocol needs to be followed in conducting this negotiation?
What is your BATNA? How will you use that?
After analyzing these questions, how do you expect the negotiation would be different? Would using these tools and strategies have resulted in a better outcome? How so? Address any topic in the textbook that is applicable to your negotiation. How would you address or solve those issues? Explain fully.
The paper must be at least 10 pages, double-spaced, with 1-inch margins. The paper must contain at least 5 different reference sources with at least 5 citations in the paper. The sources must be scholarly. Use the scholarly resources available through the Liberty University's Online Library (e.g., generic Internet websites are not scholarly sources and should not be used). Current Bluebook style of format must be used (e.g., footnotes). The paper must be professionally formatted. It is expected that you take a comprehensive approach to this paper, seeking to implement and explore as many applicable concepts as possible.