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Negotiation Skills General Feedback on Negotiation Plan.

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Plan 1 is a simple plan for a simple negotiation. It lets you know, in the clearest possible way, if you display serious weaknesses in relation to core concepts. Not only is poor planning likely to cause you problems in simpler negotiations, if left uncorrected it will generate bigger problems for you in more complex plans for more complex negotiations. Our goal here is to help you understand and quickly correct weaknesses in basic planning and preparation. To impress upon you the seriousness of this learning goal, we therefore mark this plan (and successive plans) in a demanding way. The f...

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Question Preview:

Plan 1 is a simple plan for a simple negotiation. It lets you know, in the clearest possible way, if you display serious weaknesses in relation to core concepts. Not only is poor planning likely to cause you problems in simpler negotiations, if left uncorrected it will generate bigger problems for you in more complex plans for more complex negotiations. Our goal here is to help you understand and quickly correct weaknesses in basic planning and preparation. To impress upon you the seriousness of this learning goal, we therefore mark this plan (and successive plans) in a demanding way. The first plan is worth only 5 points for a good reason – to allow you room to make mistakes and learn from them without suffering unduly in your final grade. The difference between 80 per cent (4/5 marks) and 40 per cent (2/5 marks) is, of course, only 2 marks. So for those of you who did not do well in Plan 1, please do not feel disheartened. The main purpose of Plan 1 is for you to understand the information provided about your role, try to get into role, identifying the main issues situation; identify your fundamental interests, goals, bargaining and BATNA; and then set convincing planning points. We also wish to see clear understanding of choice of approach or strategy. Please see your tutor if you are still in doubts how to set these points, starting off with resistance point, then target and finally opening offer. A negotiation plan (here the “worksheet”) should help you during the negotiation process. In evaluating your own planning before using it, you should be able to answer “yes” to the simple question: “Can I use this plan to help me negotiate better?” Any other answer suggests you need to revise your planning. In answering the question, you should consider content and layout of the plan. It should also help you go into and stay “in role”. Use the opportunity to design your “idle chit-chat” questions to reinforce this staying in role. We are not particular about which format you use for the worksheet (point-form, table-format) but it should contain all the information you will actively use in negotiating and nothing more. It needs to be clearly laid out and easy to use. Mostly, students come to find that a table works best – often in landscape format. In general: • Keep to the word limit (Plus or minus 10 per cent is permissible) • Carefully proofread and edit your writing before submitting plans. Presentation is your responsibility and says something about you. Electronic spell/grammar checks can help but are not sufficient. You are answerable for the quality of your work, not Microsoft. • Headings/sub-headings help you organise your text and thoughts but do not automatically guarantee clear thinking. That is up to you! For Plan 2, there are a number of useful guides for how to plan for negotiating a Job Offer or Job Terms One useful one is in Thompson, L. (2012), The Mind and Heart of the Negotiator, 5th edn, Pearson, Upper Saddle River NJ, pp. 37-78. More generally, please note and use the following comments for Plans 2 and 3: • State your role upfront on the worksheet. Also state why you are here (fundamental interest/s) and what your goals are at the start. • Make all the tangible goals as specific and concrete as you can. Don’t forget to consider your intangible goals (personal and/or organisational). Even in distributive negotiations, intangible goals can be important. • Where there are 2 or more goals, prioritise them clearly. If possible, you may “weight” them – for example out of 10 – to help your planning and decision making and negotiation. • Define your bargaining mix (eg price and quantity). More savvy negotiators in Plan 1 included other issues. This can help negotiate a better price. The more complex the situation, the more you need to work on your bargaining mix. • Once you have identified your goal/s, use it to set your target/s and use that to set your opening offer. • You need to clearly state your BATNA and whether it is strong or weak (relative to the offer you are negotiating). Use it set your resistance point. State these points in an easy-to-read format eg in a table format or line diagram in your worksheet. • For each of your plans (or issues in a plan), there is only ONE opening offer, ONE target price, ONE resistance point and ONE BATNA! Also never plan points around a range eg a target of 40 to 50. You will just slide to the worse one. • You must identify a BATNA from the information provided not by inventing a scenario with no firm basis in the role play instructions. Your BATNA should reflect a firm offer. Without that firm offer, you have no actual BATNA to walk to upon the negotiation failing to achieve your resistance point. • Not all BATNAs are strong or attractive. In Plans 2 and 3, you need to (briefly) explain (to yourself and tutor) the strength/perceived strength of your BATNA. • Some students have the misconception that a BATNA must always have a dollar value. It does not; it is just the best alternative. You must state what that alternative is, not just the dollar amount. • Too many students think that their planned opening offer was a highball/lowball or even an anchor when it was just a reasonable first offer. More careful reading and thinking will help here (and maybe more ambition). • On the other hand, some students overdid it with anchoring in the circumstances. Given Used Car provided both parties with Glass’s Guide – objective third party data – there is a limit to what you can reasonably open with and still look credible. You need to be aware of and sensitive to context – including known information relative to any offers made – when deciding your opening offer. • Better answers also explained the rationale behind their strategy, tactics, each planning point, their concession plan and frames. Students got fewer marks for not providing reasoning for their choices. • Some students did not sufficiently cover important sections such as strategies and tactics – including frames/counter-frames, concession planning, asking questions. Instead, they used up their word limit on repeating role play information and negotiation theory. At times they sacrificed practically useful prioritise. • A concession plan needs a series of concrete concession points that you will use from your opening offer to your target and then (if necessary) to your resistance point. You need to think carefully about those concession points – how close together they are etc – and try to link them in your worksheet to questions you will ask or to framing that you will do. • Asking the right questions is a very important part of your negotiation process. Most of you listed some questions to ask your opponents but provide no subsequent explanations (in the explanation section). Very briefly explain what you hope to achieve through your questions. And most of you did not plan follow up questions where they would have been helpful. • In their “chit-chat”, many students’ questions were too “closed” (leading to yes/no, or simple data close to the substantive bargaining mix). Plan to start with open, broad questions that DO NOT focus in on the substantive issues to be negotiated. You want the other person to feel confident and trusting and provide you with information. Making them defensive through your questions is just counterproductive. PLAN TO TAKE THE OPPORTUNITY TO LEARN SOMETHING MORE (IN ROLE) ABOUT THE PERSON YOU ARE NEGOTIATING WITH. • You must also anticipate and plan for some of the more uncomfortable questions and answers from your opponent. So, once again, plan for the 5 worst questions you can think of and plan answers that are plausible and maintain your frame. Many of you were caught off-guard by your opponents. • Remember, you will need to provide references for Plans 2 and 3. Those references should appear both in-text in the explanation section and in the reference list at the end. Students will lose marks if they do not provide those references.

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I received a job offer for the position of an Assistant Manager in the Department of Finance from a reputed company. This document is the plan for conducting negotiation for that job offer so that the best deal is entered into with the employer.

The main goal of the negotiation is to address the two domains – salary and professional growth, in the same priority. As per the market research that has been conducted, it has been derived that with regards to my salary as well as experience, the best salary offered is $15000 per month. Also, if I achieve the benefits of professional growth, I will be able to add on my experience, salary as well as designation in the industry.

The Best Alternative to a Negotiated Agreement (BATNA) is that choice, which would be taken up if there is a failure to the current negotiations and there has been no agreement reached ultimately. This has been set for the job offer negotiation and a resolution or offer worse than the BATNA would not be accepted. To arrive at BATNA, I have carefully undertaken to make sure that the deal is adequately valued through consideration of all aspects, such as value or relationship, money’s time value, and the possibility that the other party would agree to the negotiation. (Goldwich, 2011)

            BATNA in this plan of negotiation is a minimum salary offer of $12000 per month. In addition, pertaining to the professional development a minimum of one level up in four years and one training program in six months should be offered.

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