NEGOTIATION STRATEGY

In order to become an effective negotiator, you must practice negotiating and receive feedback. To achieve this, throughout the course you will be required to participate in negotiation exercises (simulations). These exercises will require preparation on your part, as well as schedule coordination with up to 4-5 other students in the course.

The purpose of these exercises is to observe your application of knowledge learned in the text and lectures, to help you gain “real” experience negotiating, to practice negotiation skills (as practice is required for confidence and proficiency), and to obtain feedback from your instructor.

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In this Unit, you are preparing for your second negotiation exercise. Your professor will assign you a negotiation exercise, a role to play in that negotiation exercise, and will give you the names of your counterparty. You will receive a packet of information from your professor regarding the negotiation, and it will be provided electronically, so you will need to check course Messages regularly in this course. You will spend this Unit preparing to negotiate, and complete the actual negotiation in Unit Six.

Note: Any negotiation materials you receive from the professor are copyrighted and you may not duplicate or redistribute them in any way.

To complete your preparation, you should thoroughly and completely review the packet of negotiation material that has been shared with you. Once you’ve done that, you will complete the Negotiation Planning Document (see attachment), answering all of the questions in the document. This document will be the basis of your preparation for the negotiation that you will conduct in Unit Six.

AS Instructions:

Please fill out the Negotiation Planning Document (see attachment) fully and completely, based on your assigned negotiation and role, then upload that completed document as your AS submission.

Name:
Negotiation:
Assigned Role:BUYER
Teammates (if any):
Counterparty:

1. Given your role, what are the most important issues in the negotiation?

2. What is your BATNA? What is your reservation price? What is your target?

3. What parts of the scenario work in your favor?

4. What do you think that the most important issues are for your counterparty in the negotiation?

5. What do you think is your counterparty’s BATNA? Reservation price? Target?

6. What parts of the scenario work in your counterparty’s favor?

7. What strategies will you be using in the negotiation? Do you want to make the opening offer? Why or why not?

8. What strategies do you expect to see from your counterparty? How will you prepare to meet those strategies?

9. Given your scenario, what other information is important for you to keep in mind while negotiating?

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