MGT 445 Week 3 Individual Assignment Negotiation Strategy Article Analysis
MGT 445 Week 3 Individual Assignment Negotiation Strategy Article Analysis
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Date Created: 11/18/15
Running head: NEGOTIATION STRATEGY ARTICLE ANALYSIS 1 Negotiation Strategy Article Analysis Name University of Phoenix MGT/445 August 1, 2011 Instructor Negotiation Strategy Article Analysis NEGOTIATION STRATEGY ARTICLE ANALYSIS 2 Negotiations are important in personal as well as professional life as negotiation helps sorting out the issues that may trigger any major conflict. Negotiations are of different type according to the different strategies used according to the matter under consideration. These studies assess two articles using different forms of negotiation strategies and further analyze the implemented strategies kept in view. The art of getting the best deal As in the first article, one selects “The art of getting the best deal” written by James Sebenius and David Lax. In this article the subject to explore is the significance of developing for an effective negotiation and outlining the methods to achieve the specific goal. To do this successfully, a person should plan the complete set of involved people, review the complete set of a person and his or her interests, evaluate each side's nodeal choices, and resolve the shared dilemma of creating an agreement for everyone that is better nodeal choices (J. Sebenius and D. Lax, 2000). The first portion of the developing procedure includes the prioritize interests and their ranking. The parties involved in the negotiation should specify their goals. One more significant factor involves assessing the opponent’s priorities; means to know what viewpoint is of the other side and what techniques they may use to bargain the issue. This article also strains negotiators should cautiously plan accurate investigation. The author describes the negotiator should follow some important steps; the first step is to illustrate a deal chart and the second step is to know the interests, as the author says negotiations normally deal with tangible aspects such as cost, timing, and conditions (J. Sebenius and D. Lax, 2000). NEGOTIATION STRATEGY ARTICLE ANALYSIS 3 The third step is to obtain the best substitute to negotiated contract (BATNA). As the authors, Sebenius and Lax, state the BATNA may entail whatever from turning away, to moving to another dealer (J. Sebenius and D. Lax, 2000). The last step highlighted by the author is to resolve the mutual issues by keeping in mind both the parties share a mutual problem. According to the author, contract or deal helps in resolving conflicts and for effective negotiation. Negotiation: the right setup makes a deal The second article selected by the author to analyze is “Negotiation: the right setup makes a deal” by David Lax and James Sebenius. This specific article highlights six important fundamentals that both D. Lax and J. Sebenius noted. The authors are of the view that relationship, risk, and value are most essential for negotiation. According to the author the most significant elements are, first, to comprise the uppermost value players. Normally, a business in this position would continue arguing for an upper assessment and filter negotiating methods with each potential customer (J. Sebenius and D. Lax, 2004). The authors believe giving foremost value to the product will help enhancing competition that will lead toward greater prospective for income. The authors describe once the product is distinguished from others it will boost the value for instance packaging or color. The second point the authors stress includes prospective powerful players by discerning the factors influencing the target. According to the third point the negotiator can move away from the deal if developing some differences and let the other party know that he or she is not further into the negotiation. The fourth point is to comprise the accurate agent by overview his or her knowledge and skills. NEGOTIATION STRATEGY ARTICLE ANALYSIS 4 The fifth point illustrates a negotiator; one party can include in the negotiation those who may endorse the deal. Selecting a projected agreement in advance with others who must agree it can be a smart choice (J. Sebenius and D. Lax, 2004). The last point in this article is to discuss the outcome of involving many parties in the negotiation and further explains how it can set hurdles in the deal. One has to assess the facts about the deal, who it will affect, involve whom, and why not to assist anybody gratuitously. Both the above articles express significant views renowned by David Lax and James Sebenius. Article number one “The art of getting the best deal” puts massive prominence on the necessary points of planning forward before involving in a negotiation position. Authors submit four steps for an effective negotiation planning. According to the authors sketching a deal chart, assessing interests, assessing the best substitutes to negotiated agreement (BATNA) and resolving the common problem will assist the negotiator in reaching an agreement in a more fruitful manner. The second article “Negotiation: the right setup makes a deal” stresses on the relationship, value of a negotiation and parties who needs to be involved. The authors are of the view asking many questions prior to negotiations commencing can make certain the most promising setup with the proper people dealing with the matters in the precise order at the right table(s), facing the right nodeal choices (J. Sebenius and D. Lax, 2004). One’s father inlaw worked as a Merchandising Coordinator for the Imagewear and Activewear coalitions, during a previous career. Negotiation was an essential part in his daily duties. He was to negotiate continually to achieve the merger goals and prospects in terms of NEGOTIATION STRATEGY ARTICLE ANALYSIS 5 how much the company can invest on a line of outfits for a particular brand. The process involved getting an arrangement from the merchandising section on what they required to build up, and he had to receive payment from different suppliers, factories, and vendors and try to obtain the greatest deal to achieve the venture. Conclusion Negotiation is present at the workplace or at home on an individual. One needs to compact with complicated situations, which a needed right choice in achieving a deal. The negotiation procedure will help the negotiator by keeping in mind the risks and complications, to assess the methods to tackle specific issues when they occur. Mostly, a designed negotiation, a considerate strategy, an effective communication between the negotiator, and the opposite will advantage both parties involved in negotiation in reaching a winwin situation. NEGOTIATION STRATEGY ARTICLE ANALYSIS 6 References Sebenius, J., Lax, D. (2004). Negotiation: the right setup makes a deal. Retrieved from http://www.people.hbs.edu/jsebenius/FT/FT_040803.html Sebenius, J., Lax, D. (2000). The art of getting the best deal. Retrieved from http://www.people.hbs.edu/jsebenius/FT/The_Art_of_GettingPart_1.html
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