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Business Negotiations 2013
 

Business Negotiations 2013

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    Business Negotiations 2013 Business Negotiations 2013 Presentation Transcript

    • UNIVERSITI UTARAMALAYSIAOTHMAN YEOP ABDULLAHGRADUATE SCHOOL OFBUSINESSBSMH 5113Business NegotiationArticle ReviewThe Art of NegotiatingBy;PRIDHIVRAJ NAIDU - 814284
    • Presentation Overview1. Successful negotiation steps2. Non Verbal Communications3. Reasons why deals Fail
    • Negotiation Steps1. Recognize2. Prepare and Plan3. Establish Rapport4. Pattern Recognition, mental stimulationand reflection-in-action
    • Non-Verbal Communications
    • Reasons why deals fail1. Interests of parties don’t align2. Mismanagement of the bargainingprocess3. Human Psychology
    • UNIVERSITI UTARAMALAYSIAOTHMAN YEOP ABDULLAHGRADUATE SCHOOL OFBUSINESSBSMH 5113Business NegotiationCase StudyDeveloping a StrategicNegotiation Plan:Toyota HighlanderBy;PRIDHIVRAJ NAIDU - 814284
    • The Case- Miss Michelle and Miss Yale is interested tobuy Highlander 4 wheel drive- Miss Michelle is trading in her low mileage1992 Honda Accord LX.- The Lacey’s however, they would be keepingtheir current car and financing the purchasebeyond a $5,000 down payment.- Manufacturer’s Suggested Retail Price (MSRP)- no incentives provided to the dealerships forsales of the Highlander model
    • Q1 Best Nego Strategy- Dual Concern Model- Competitive bargaining
    • Q1 Best Nego Strategy- Competitive bargaining tactics aim for a largeslice of a fixed pie of value(Amanatullah, Morris & Curhan,2008)- In the purely distributive case, the interests ofthe parties are negatively correlated(Walton & McKersie,1965)- I win – you lose
    • Q1 Best Nego Strategy (Cont.)- Seller seeks the highest price possible and thebuyer hopes to pay as little as possible.(Barry & Friedman,1998)- Each negotiator presumably has in mind areservation price, beyond which he or she willnot go in reaching an agreement(Raiffa,1982)
    • Q2 Nego ProcessPHASESPREPARATIONRELATIONSHIP BUILDINGINFORMATION GATHERINGINFORMATION USINGBIDDINGCLOSING THE DEALIMPLEMENTING THE AGREEMENT