Tag: Negotiation

Negotiation is a concept that takes place quite often, in our daily lives. We use various skills to which we are accustomed, and whether we realize it or not, we determine ways to enhance these abilities.

For this assignment, you are asked to write a seven page paper addressing your approach to negotiation (the title and reference page will not count towards page count). Please ensure that you address each of the following sections. Each section will need to be labeled with the use of subtitles. You will need to be thorough in explaining your negotiation style.

Introduction
Define negotiation
Attitudes regarding negotiation
What is your attitude about negotiation?
Approaches to negotiation
What approaches do you take when negotiating?
Differences in personal and professional approaches to negotiation
Explain whether your approaches are the same or different in your personal and professional life.

Your professor suggested that “erratic behavior can be a powerful weapon” in a negotiation. Do you agree or disagree? What is the potential value in such behavior and what are the pitfalls? Provide your thoughts in a paragraph or so.
Reread pages 128 through 134 in the book. Explain your position on the value (or lack thereof) of apologies before, during, or after the negotiation process. Provide support for your position.
Why is it a good idea to commit the results of a negotiation (even a simple one) to writing? Can you think of any drawbacks to committing the results to writing?
The book discusses active listening as a means of helping move negotiations forward to resolution. Describe how you understand this process. What are the benefits of active listening during a negotiation? Are there any disadvantages to active listening?
During the lecture, your professor listed five things that you should not let bother you during a negotiation – see if you can remember three of them and list them.

William Shatner and the Warner Theater
GENERAL INFORMATION FOR ALL ROLES William Shatner and the Warner Theater are negotiating to put on a production of “Man of La Mancha,” with Shatner playing the role of Don Quixote. The production will be in Washington, D.C. Representatives for both sides are meeting to work out the details of the production, including compensation, casting, scheduling, and perks. Your job is to negotiate the contract that will make this production happen. As both parties are interested in the deal, there is no non-settlement option for this problem. The only question is what the terms of the agreement will be. The contract must be acceptable to both sides, and the provisions must be unambiguous when given a plain English interpretation. You should score each provision in the margins, using the left margin for Shatner’s score, and the right margin for Warner’s score.
CONFIDENTIAL INFORMATION FOR SHATNER’S COUNSEL Your client is strong-willed and has a very high opinion of both his talent and his value to this production. Therefore, he is inclined to demand quite a bit of control over several aspects of the production and to insist that Warner treat him in a manner consistent with his status in the profession. He believes that his previous experience with directing and producing in the movies entitles him to have input in these areas for this production as well. Shatner has expressed some concern to you that he thinks Warner may have some sort of gimmicky approach planned for this production. Although he does not know exactly what the theater folks have in mind, he has instructed you to make sure that “Man of La Mancha” does not become some kind of “Star Trek” reunion. As much as Shatner hates to admit it, several members of the “Next Generation” and “Deep Space Nine” casts, such as Patrick Stewart, Avery Brooks, Brent Spiner, and Jonathan Frakes, have more recent and more extensive theater credentials than he does, so it is harder for him to object if Warner wants to put any of them in the cast. If any other “Star Trek” cast members are in the cast, he particularly wants a directing credit. On the other hand, he does not have a great deal of theatrical experience, and wants to be sure that he does not embarrass himself in this production. Thus he wants plenty of preparation and rehearsal time. Since movie and television offers are not what they once were, Shatner has been thinking that the theater may offer new opportunities, and he would like to do everything possible to ensure that he gets good reviews of his work in “Man of La Mancha.” Shatner would like to be guaranteed at least $15,000 per week for the run of the show. The show is currently scheduled to run four weeks, beginning in December. If the show is extended by popular demand, he would like at least $20,000 per week during the extension. He would also like a percentage of the profits. Finally, Shatner would like to keep ticket prices at a somewhat reasonable level, because he knows that his audience is not likely to be traditional theater aficionados. Nancy Schultz, Author William Shatner and the Warner Theatre
SCORING SYSTEM FOR SHATNER’S COUNSEL For salary: • 5 points for each $5000 per week in salary Warner agrees to pay. If Warner agrees to an increase for any extension, score only the increase (i.e., score 20 points total if Warner agrees to the $15,000 for the first four weeks and $20,000 for the extended run). You may not score more than 25 points for the salary. • 2 points for each percentage point of gross profits Warner agrees to pay, up to a maximum of 20 points For the following perks, add: • 2 points for a private dressing room • 2 points for top billing • 5 points for a penthouse at the St. James • 3 points for a chauffeured limousine • 3 points for keeping two of his Dobermans at the hotel and bringing them to the theater • 3 points for an agreement that among the souvenirs to be sold in the lobby will be his novels For the rehearsal schedule, add: • 2 points for each week of rehearsal time, up to a maximum of 12 points For directing or production credits, add: • 5 points each if Shatner can get a credit as director or assistant director and/or producer or assistant producer. Remember, he particularly wants a directing credit if any other “Star Trek” actors are involved. For ticket prices, add: • 5 points if the top ticket price will be no more than $50 For advertising, add: • 5 points if Warner will agree that Shatner does not have to participate in any advertising for the production that makes any reference to “Star Trek” or “Captain Kirk” For other “Star Trek” cast members deduct: • 10 points if any other members of the original “Star Trek” cast are involved in this production • 5 points if any members of the casts of “Star Trek: The Next Generation” or “Star Trek: Deep Space Nine” are involved.
1. What material will you have in your briefing book?
Your briefing book provides you with an arsenal of information upon which to negotiate successfully.
a) Notes on the other party? What do you know about them?
b) Lists of your major and minor interests. What potential arguments might they make and how will you overcome their objections?
c) Lists of their major and minor interests. What potential arguments might you make and how will they try to over-come your objections?
d) What research and background material will be developed for the negotiation? Both on your side and on theirs.
e) Identify and explain the specific packages or trades. What do you and the other party have to offer and trade?
f) What is your possible BATNA?
g) What is their possible BATNA?
2. Negotiation Style
a) What is your negotiation/ communication style? Identify and explain your style. Cite your source for support.
b) What is their negotiation/ communication style)? Identify and explain their style. Cite your source for support.
3. Strategy involves the overall approach to negotiations. Some strategies are designed to claim value and others are designed to create value. Will it be a win-win, distributive, integrative, principled, open confrontation?
a) What strategy (be specific) do you plan to follow in the negotiation (competitive, cooperative, integrative, principled)?
b) Why? Identify and describe the strategy you will use. Cite your sources.
4. Opening Position – Most experienced negotiators will come into a negotiation to first exchange information, establish a relationship and size up the other side.
a) What will be your opening position? Why? Cite a source to support your decision.
b) What information do you not want to share and with the other side and why?
c) What information do you want to share with the other side and why?
d) Identify and cite a strategy to support your idea.
5. Concessions – Concessions are an extremely important component of a negotiation. They transmit information about the likelihood that a deal will eventually be struck. The pattern of your concessions over time indicates who claims the most value.
a) What concessions are you willing to make and not willing to make? Why? List in order
b) What concessions do you think the other party will be willing to make and not willing to make? Why? List in order
6. Closing the Deal
a) What is needed to close the deal? Identify and list what main points must be negotiated and agreed to by both parties to have a contract? (you may use bullet points here)
7. What do you hope to achieve and what do you think you will realistically achieve?
a) What would you like to achieve? List your top 3 points you hope to fully achieve?
b) What do you think you will the hardest for you to achieve in relation to your top three points and why?