Examination and evaluation of a business negotiation and a negotiation in a private environment (case study)
This assignment evaluates two negotiation cases. Please note the cases are theoretical nature, any resemblance to living persons and real actions are purely coincidental. The first case takes place in a private environment, the second in a business environment. The evaluation of each case is based on the four phases of negotiation and describes the preparation for, strategy during and process of the negotiation. The basic theory of negotiation to which the individual cases refer is described. Detailed aspects of the theories and approaches are given in the cases as appropriate.Do’s and don’ts of behaviour in cross-border negotiations will be also discussed.
ABOUT THE AUTHOR
Markus Baum is Group Finance Director at a management consulting firm with focus on business strategy, supply chain management (SCM), manufacturing & logistics, sourcing & purchasing, marketing & sales, financial management and information technology (IT-strategy). The company has subsidiaries in Germany, Switzerland, Belgian, France, United Kingdom and Russia.
Markus Baum earned a MBA with distinction from the University of Surrey (UK), is an international certified accountant, has and graduation in accounting & controlling and an apprenticeship as tax adviser assistant. Markus Baum is a member of the International Controlling Association.
Table of Contents
- Introduction
- 1st Phases: Preparation
- 2nd Phases: Sharing
- 3rd Phases: Haggling and Bargaining
- 4th Phases: Closure and Commitment
- Negotiation in a private environment
- Introduction to the case and background information / problem statement
- Preparation phases
- Self-assessment
- Assessment of the other party
- Assessment of the situation
- Negotiation Strategy
- Sharing phases
- Haggling and Bargaining phases
- Closure and commitment phases
- Reflection of the negotiation
- Away from the negotiating table
- At the negotiating table
- Judging Performance
- Negotiation in a business environment
- Introduction to the case and background information / problem statement
- Preparation phases
- Self-assessment
- Assessment of the other party
- Assessment of the situation
- Negotiation Strategy
- Sharing phases
- Haggling and Bargaining phases
- Closure and commitment phases
- Reflection of the negotiation
- Away from the negotiating table
- At the negotiating table
- Judging Performance
- REFERENCES
Objectives and Key Themes
This work aims to analyze and evaluate two negotiation cases, one in a private setting and the other in a business environment. The author utilizes the four phases of negotiation (preparation, sharing, haggling, and closure) to examine the strategic aspects of each case, highlighting the preparation process, negotiation strategies, and the reflection on the outcome. Key themes explored in the text include: * **Strategic Negotiation:** The text emphasizes the importance of strategic planning and preparation in negotiation, examining the role of self-assessment, assessing the other party, analyzing the situation, and developing a comprehensive negotiation strategy. * **Phases of Negotiation:** The author structures the analysis around the four key phases of negotiation, exploring the distinct characteristics and challenges of each stage, from preparation to closure. * **Reflection and Performance Evaluation:** The text places significant emphasis on reflecting on the negotiation process and evaluating performance both during and after the negotiation. This includes considering the effectiveness of strategies employed and identifying areas for improvement. * **Negotiation in Different Environments:** The analysis explores the nuances of negotiation in both private and business contexts, highlighting potential differences in objectives, power dynamics, and communication styles. * **Key Negotiation Concepts:** The text introduces and applies key negotiation concepts, such as BATNA (Best Alternative To a Negotiated Agreement), ZOPA (Zone of Possible Agreement), and reservation point, providing practical insights for successful negotiation.Chapter Summaries
Introduction
This chapter introduces the main themes and objectives of the assignment, outlining the two negotiation cases to be examined – one in a private setting and the other in a business environment. The text also introduces the four phases of negotiation (preparation, sharing, haggling, and closure) that will be used to analyze each case.Negotiation in a private environment
This chapter focuses on the first case, which takes place in a private setting. It includes a detailed description of the situation, the preparation phase (self-assessment, assessment of the other party, assessment of the situation, and negotiation strategy), the sharing, haggling, and closure phases of the negotiation, and a reflection on the process. This includes an evaluation of performance both away from and at the negotiating table.Negotiation in a business environment
This chapter examines the second negotiation case, which takes place in a business environment. Similar to the previous chapter, it includes a detailed description of the situation, the preparation phase, the sharing, haggling, and closure phases of the negotiation, and a reflection on the process, including performance evaluation.Keywords
The text primarily focuses on strategic negotiation in business and management contexts, examining the application of negotiation principles in both private and business settings. Key concepts and themes include: preparation, sharing, haggling, bargaining, closure, commitment, self-assessment, assessment of the other party, assessment of the situation, negotiation strategy, reflection, negotiating table, judging performance, BATNA, ZOPA, reservation point, strategic negotiation, and business and management.- Quote paper
- Markus Baum (Author), 2011, Strategic Negotiation in Business and Management, Munich, GRIN Verlag, https://www.grin.com/document/193880
