Analysis and Reflection Paper for MGT 3300
Question 1
The real life situation where I negotiated was when I was purchasing a car. I was looking for an 1800cc Honda Civic 2012 model. While I was looking for a good condition car with low price, I bumped into a car which I liked very much. The demand of the car owner was $22,500 although; I have made up my mind to buy a car within the range of $15,000-$19,000. After a long search I found this car to be perfect in terms of my requirements, therefore I negotiated with the car owner who was persistent with $22,500. Once we got together after the first meeting he was ready to reduce the price to $20,500 meanwhile I increased my limit to $19,000. We met a couple of times just because I was running after the person to buy his Honda Civic from him. He was also keen to sell it as soon as possible but I was not sure about increasing my range. Both of us were really stuck with our final prices where the owner of the car was not looking to reduce a single cent, but I knew this car was perfect for me. This negotiation took a long time where finally we ended up at $20,000. Although, I had to increase my limit but I was happy because I got a good car at a reasonable price through my negotiating skills (Kadir, 2011).
Question 2
When comparing the two definitions of negotiation presented by Lweicki and Jim Camp, the initial part of the two definitions are quite similar where both the authors stress on the option of resolving the conflict. Lewicki and Camp actually emphasize on resolving the concern by mutual understanding and agreement between the two parties. However, the contrasting part of the two definitions is that Lewicki is only looking for one option where he believes that negotiation attempts to resolve opposing concerns of the two parties, whereas Camp along with the fact that he too wants to resolve the concern with mutual consent also presents the option where either of the two parties can back-off from the negotiation. Under this concept, Camp either says to resolve the concern or back-off with not a single option of trying again. Whereas, Lewicki says that one should try to negate the differences. Well, for me the best definition has to be the one presented by Lewicki et al. The reason I agree to his definition is that I believe that negotiation is the ultimate solution to problems. Backing-off from negotiations is not the solution to problem. One has to be flexible enough to approach the other person, listen to his concerns and then find a common way out rather than keeping personal interest ahead. Personally, whenever I look to negotiate, I try to resolve the concern by keeping the interest of the other party along with my personal goals. This approach has inspired me a lot and has made me to become a better human being (Camp, 2007).
Question 3
This was a real challenging time for me, where in a situation I had to negotiate with someone who was quite powerful. In fact, the situation was such where I had to negotiate on the terms and conditions of the other party. It was situation of ransom to free my uncle who was kidnapped by some criminal group. The person I was negotiating was my father’s brother and a dear family member. It was quite a difficult time for my family as the kidnappers were threatening to kill my uncle if we did not pay them $50,000. With a family member fighting for his life, I used the Win-Lose approach to deal with the situation because I knew we had no other option instead to pay the ransom money. I succeeded to bring back my uncle by paying the group $50,000, but eventually I failed to negotiate a single penny because we were so worried and confused that we did not negotiate on the amount and paid the complete amount. While thinking about the situation when my uncle was kidnapped, now I feel that I should have informed the police about the whole scenario and should have taken their help. Maybe the police would have assisted us to overcome the situation. Instead of paying the complete amount and bearing all the tension within the family; it would have been better to get help from the police. I believe taking help from them could have made us use a different approach where we could have used the comprise approach or the integrative negotiation approach (Craig, 2010).
Question 4
The situation where my uncle was kidnapped by the criminal group, while negotiating with the group I was only concerned about getting my uncle back safely..............................
This is just a sample partial case solution. Please place the order on the website to order your own originally done case solution.
Provides a basis for analysis and negotiation. Notes the importance of the four mutually supportive modes of analysis: diagnosis of the situation, the formation of structure, process control, and judging success. Key concepts are illustrated with example business negotiations. "Hide
by Michael D. Watkins Source: Harvard Business School 62 pages. Publication Date: February 23, 2000. Prod. #: 800316-PDF-ENG
Related Case Solutions & Analyses:
UpDown: Confidential Instructions for MICHAEL
Managing Transitions in the Growing Enterprise
An Analysis of Stock Option
Kimpton Hotels – Setting Prices on Priceline (A)
Fisk Alloy
Haier In Japan
Market Analysis
Banff Aspen Lodge: Evolving the Business Strategy
Berkshire Partners: Bidding for Carter’s
Evaluate Cola’s strategy of buying bottlers, making them stronger, and then selling them again. Would you change this strategy? Do you agree with it?
