Resolution

Project 3- Preparation and Information Sharing

Tiffany Brown

South University

December 24, 2019

Preparation and Information Sharing Comment by Jaime Klein: This is a first level heading, meaning it is not a subtopic of another section. Therefore, it should be centered on the line and the first letter of each major word should be capitalized.

During normal human interactions complex situations usually come up that require a solution that would be acceptable by both parties. It may be that both parties want the same end but have predefined ways to get here. This calls for negotiation so that each of the conflicting party becomes part of creating a solution that would be acceptable by them. For this assignment, I would use the scenario provided in the previous assignment. Whereby, I played the role of a seller of a 2014 Chevrolet Impala and a college John played the role of an interested buyer. Comment by Jaime Klein: Make sure that you are using complete sentences. Be sure to have a proper introduction. Your introduction should briefly introduce the topic and then clearly and concisely state the purpose and scope of the paper. You can say … the purpose of this paper is …

The negotiation scenario was infiltrated when I placed an advertisement of the car sale on Craigslist and John as an interested buyer contacted me for a meeting to discuss payment and other issues plus physically viewing and assessing the vehicle and it we agreed take it. We met for the negotiations at a coffee shop that was located locally. Discussed the various issues among them price for which the initial posted buying price was $15,500 but the final negotiated price that was agreed upon was $14,300 and an additional $7,000 for the vehicles interior to be replenished and an additional paint job. This was agreed upon after John physically viewed and inspected the vehicle at the garage. Comment by Jaime Klein: Initiated Comment by Jaime Klein: Grammar. Make sure that you proofread carefully. Comment by Jaime Klein: This is not a complete sentence.

The purpose of this role-play negotiation was to find a working solution to the complex situation that was there. Whereby, John wanted a sedan specifically Chevrolet Impala and had a certain price range that he had wanted to get it from having a maximum and a minimum and I as the seller wanted to sell off the vehicle but also had a specific price range that is maximum and minimum that I had predetermined. This was the complex situation and it called for negotiation to be used to find an acceptable solution that was formulated by the conflicting parties, which was achieved in the end (Lewicki, Saunders and Barry, 2015). Comment by Jaime Klein: What part of this sentence is from the source? You are talking about your own situation here.

Every person is a negotiator whether they like it or not, because each and every person negotiates something from day- to-day. These are the sentiments of Roger Fisher, William Ury and Bruce Patton in one of their books. It is thus evident that most people if not all visits the negotiating table on a daily basis whether it is convincing a toddler to eat their meal or acting as a representative of a multibillion dollar organization in a deal. The success of any negotiation event is highly dependent on preparation with some study’s purporting that up to ninety percent of negotiations is determined by planning and preparation. For this to be effective then are seven key principle questions that one should ask themselves so that they organize their ideas as they prepare for negotiations (Giang, 2018). Comment by Jaime Klein: Make sure to properly cite the research here.

First, is to ask what the affected negotiation parties really want? To answer this question one has to identity the stakeholders both those who are physical at the negotiation scene and also those that are unseen but have an influence on the direction of the negotiations, by identifying their interests, motivations and needs. These can easily help to identity the areas of common interest that would help in the negotiation. In the role play negotiation scenario, the responses to these question was that the buyer john wanted a cheap car that was in pristine condition and was not very old, also he was an ardent fun and loyal to the Chevrolet brand of vehicles. On the other side as the seller, the main interest was to sell the vehicle at a reasonable price fast. Comment by Jaime Klein: This is not a question … it is a statement.

In this scenario, the common interest that was evident was that both parties wanted a quick fast deal that is one wanted to acquire the vehicle while the other wanted to sell or offload it. Second, is determining or considering what one would do IF they would not reach a deal. By determining, some alternative causes of action for born parties on the negotiating table will be resourceful for both parties. In the car sale negotiation scenario, the best alternative that was available for the buyer if no agreement was reached was to go and seek to buy another vehicle while for the seller is to find another willing buyer (Giang, 2018: Slavik, 2008).

Third, is questioning how value can be created by capitalisms on the shared interests. This is whereby, the parties figure out the specific interests of each other and try to satisfy these interests. In the negotiation scenario, the buyer was able to identity what the seller wanted to sell the car fast on the other hand, the seller identified that the buyers interest was this specific brand of station wagon and also that they wanted it revamped and looking new and fresh. After identifying these interests both parties used them to their advantage with the buyer getting a cheaper price and the seller getting the vehicle bought. Fourth, is to determine the criteria that would be most persuasive. This is whereby both parties convince the other that they are getting a fair deal and that they are not being ripped off. Comment by Jaime Klein: Good information here, overall. Make sure that you relate back to the research throughout your entire paragraph.

In the scenario the seller highlighted the key distinguishing factors about the vehicle that made it stand out and worth the price that was being offered: Through this the buyer was fully convinced to buy the vehicle (Giang, 2018: Slavik, 2008). Comment by Jaime Klein: What about this sentence was from research? You are just talking about the scenario. There is no research here. Make sure that you understand when you should be citing

Fifth, is whether the negotiation is a one round event or a multiple round event? This is whereby you consider whether the relationship formed is long-term or short-term. This will determine the behavior that each party will portray. In the scenario, both parties were in the relationship for a long term because the buyer wanted some sort of service after the sale. Therefore, the relationship from beginning was focused on this. Sixth is what commemoration modes are best to be used to communicate what each party wants? This is where by good communication is used in negotiation. In the scenario, a social local venue was chosen as a meeting point and face-to-face communication was used. Comment by Jaime Klein: Is this from another source? Then you need to cite it.

Lastly are what commitments should one make and whether the deal was good or not. This is where by both parties determine whether the deal had the best outcome and the nature of commitments that they would make that is at the end of the agreement whether it is signing of a contract or such. Comment by Jaime Klein: Keep in mind that you need to use at least three sentences per paragraph.

In the scenario, the parties agreed to sign a contract and also through word of mouth that he changes would be made (Giang, 2018: Slavik, 2008). Comment by Jaime Klein: Again, there is no research here so no citation needed. Why are you citing two sources?

The prize matrix for the seller was based on a number of research factors and elements that was conducted. Among the research was the price of the Impala when it was bought that was about $18,000 at the time. Then calculating its depreciating value that fell to about $14, 000, considering the value of the premium reams the value rose to about $14,800. Additionally, the engine had been cleaned and also the interior professionally cleaned costing about an extra $300. This brought the total value of the vehicle to approximately $15,100. The additional cost of replacing the tires and wheel alignment increased the cost by $ 400 totaling up to $15,500.

Deducting the cost of installing new brake pads at a cost of $300, servicing and routine maintenance of the vehicle at a cost of $500 and partially covering the cost of replacing tires and a discount for the paint patches that were a bit damaged costing around $400. The total possible deductions were totaling to $1,200 deducting this from the approximate total of $15,500 the minimum cost was $14,300 which was the price that the vehicle was purchased (Lewicki, Saunders and Barry, 2015). 

On the other hand, by assessing the competitor prices for the same class of vehicles within the market. It was established that the price of a 2014 Chevrolet Impala fell between $12,200 and $16,374. This was similar across board for the used station wagons even from different manufactures. As such, this informed me as the seller of the price range that the buyer was willing to work with. Using this information, it was possible to convince the buyer that the offered price was competitively fair (Cars.usnews.com, 2019).

The best alternative to a negotiated agreement for the buyer was that they could get another older model of the vehicle at a cheaper price. Although this would mean that they lose out on the features that this model provided. The BATNA for the seller was that another buyer could have been sought or to sell the vehicle at a cheaper price. The BATNA for the buyer was easily determined by analyzing the available prices options for the same model of vehicle and also prices offered by the competitors’ brands of the same class of vehicle. My BATNA was strengthened by the fact that the car was in pristine condition and had premium reams among many other features unlike the other available options (Program on Negotiation, 2019). Comment by Jaime Klein: You want to introduce the concept of BATNA and cite a source for it.

In conclusion, the information sharing stage was open and both parties shared information in a calm and excited manner. The information presented included data about the vehicle and how it compared against the competition, and the features and elements that were on the vehicle. In addition, the general condition of the vehicle was also shared. Information that was not shared included the fact that the vehicle needed tire replacements and mechanical service. Additionally, the buyer did not share that they were looking to resale the vehicle for profit and that the agreed upon price was lower than what he had anticipated (Program on Negotiation, 2019). Comment by Jaime Klein: A substantive conclusion should summarize the information presented in the paper and then draw your own conclusions based on that information and the research. You do not want to use sources in a conclusion.

References Comment by Jaime Klein: Make sure all references on this page are in proper APA format. Please review the APA Manual for assistance. Make sure you are using academic sources for support in your writing. This should include peer-reviewed articles from the University’s Library databases. You cannot just use books, text books, magazines or websites, as they are not reliable.

Cars.usnews.com. (2019). 2014 Chevrolet Impala. Retrieved 24 December 2019, from https://cars.usnews.com/cars-trucks/chevrolet/impala/2014

Giang, V. (2018). Ask yourself these 7 questions when preparing for a negotiation. Retrieved 24 December 2019, from https://www.fastcompany.com/90222394/7-questions-to-ask-yourself-when-preparing-for-a-negotiation

Lewicki, R., Saunders, D., & Barry, B. (2015). Negotiation (7th ed.). McGraw-Hill Higher Education.

Program on Negotiation. (2019). An Example of the Anchoring Effect – What to Share in Negotiation. Retrieved 24 December 2019, from https://www.pon.harvard.edu/daily/negotiation-skills-daily/what-to-share-in-negotiation/

Slavik, J. (2008). Seven Elements Of Effective Negotiations [Ebook]. Massachusetts: Ombuds Office. Retrieved from http://s:\jns-r\files\jerome\2008 neg. workshop\seven elements of effective negotiations nov. 19-08.doc