The negotiation with the Island Queen Company progressed very well and achieved a good result. The fact that both parties were implementing an integrative collaborative strategy resulted in a very pleasant and beneficial negotiation for both parties. Even though the result was lower than our target, it was above our BATNA and resistance point and was deemed to please both parties and as our strategy was also heavily concerned with building a strong relationship with the other company we believe that we achieved a successful result.
Throughout the negotiation each issue was discussed one at a time to help reach an outcome that was acceptable for both parties. Due to each party sharing information and their motivation to achieve a certain result made it was easy to work together to attain mutual agreement over each issue. The attained agreement between the companies was 350 people at a time, 9 visits a year with 1 day visits. This result achieved our goals to protect the environment and culture of our island whilst still maintaining a degree of tourism that will allow for the industry to flourish. Impacts of strategies
Collaborative also referred to as integrative bargaining is a method of dispute resolution and this strategy is based on pursuing cooperation as a response to conflict (Din-Dayal, 2006).
The team employed this integrative collaborative negotiation strategy to try and achieve an outcome that is beneficial to both parties whilst maintaining a good relationship for the six-year business agreement. The Island Queen Company also used an integrative collaborative strategy, which resulted in a very pleasant negotiation with minimum conflicts. Both parties were able to easily discuss their points of view on issues and bring up any concerns over the agreement. Impacts of tactics
The Term Paper on Negotiation and Leadership
The negotiation is a process where two parts make a deal to satisfy the interests or needs of each other. We are going to analyze how and when to negotiate. To guide ourselves with this topic, we are going to use the method of Harvard that consists in seven steps. Harvard method: 1) Interests 2) Alternatives 3) Options 4) Legitimacy 5) Communication 6) Relationship 7) Compromise We are going to ...
A good negotiation tactics can foster open negotiations and avoid positioning (Zack, 1993).
The tactics used by the team appeared to work effectively throughout the negotiation. We used creative solutions such as the max 350 tourists on the island at a time but no limit to how the cruise ship arranged this to effectively solve the tourist number issue. This was also combined with our listening and sharing information strategies to help achieve mutually beneficial results. The opposing team also appeared to use these tactics, which assisted both teams in achieving a very successful negotiation.
Strengths and weaknesses
The team worked well together and cooperated well to achieve an effective number of strategies and tactics to be used in the negotiation. The team members have the basic improvisational skills, such as recognizing a member’s offer of information or selecting roles to play within the negotiation. An effective improviser can make the best of the situations, and improvisation skills can help weaker party turn the tables and reframe the negotiation process (Balachandra, Bordone, Menkel-Meadow, Ringstrom & Sarath, 2005).
We also implemented the strategies well throughout the negotiation as well as listening and sharing information effectively. We believe that even though we may have relented easily on some issues in the negotiation this did play into our strategy of building a strong relationship between both companies for the six-year duration of the agreement.
The negotiation with Island Queen was good however it was finished quite quickly and felt a bit rushed. As we proceeded through the negotiation so quickly we had glossed over some minor issues that had not been discussed. This meant there was no agreement over these issues, which could provide serious problems in the future. This problem may have also been attributed to our lack of structure with our negotiation topics. Even though our planning was completed well we did not discuss every point that we planned to. Through the negotiation the main issues were focused on however we missed some smaller issues by not referring to our planning form during the negotiation process.
The Essay on Team Strategy Plan
Identify the team formation strategy that is most suitable for Riordan Manufacturing, and provide the rationale for the decision. Your response should be at least 100 words. A cost minimization strategy and control cost would be the most suitable strategy for Riordan Manufacturing. Riordan Manufacturing should be able to measure the reporting cost production, marketing, preparing budgets or ...
Lessons learnt
In future negotiations it will be important to learn from our weaknesses and in this case we could improve our negotiation by taking more time and effectively referring to our planning form during the negotiation. By taking more time and care with our negotiation we won’t feel as rushed to reach a solution and we are more likely to further express our thoughts and beliefs about the issues. Also we will give the opposing team more time to express their concerns and potentially achieve a more beneficial result.
Also we must properly refer to our planning form throughout our negotiations. This will ensure that we do not miss any issues as well as using our tactics and strategies in the way they were intended to be used. We believe that by doing this we will also provide a concise and effective negotiation that will avoid any time wasting on irrelevant topics. References
Din-Dayal, I. (2006).
Student thinking on collaborative negotiation. (Order No. 3221589, Harvard University).
ProQuest Dissertations and Theses, , 265-265 p. Retrieved from http://search.proquest.com/docview/305338964?accountid=13380. (305338964).
Zack,James G.,,Jr. (1993).
Negotiation of settlements – A team sport. Transactions of AACE International, , 10. Retrieved from http://search.proquest.com/docview/208191638?accountid=13380 Balachandra, L., Bordone, R. C., Menkel-Meadow, C., Ringstrom, P., & Sarath, E. (2005).
Improvisation and negotiation: Expecting the unexpected. Negotiation Journal, 21(4), 415-423. Retrieved from http://search.proquest.com/docview/205184906?accountid=13380
