The Blueprint to a Negotiation
In this module, you learned the importance of planning prior to entering the negotiation waters. In order to stay afloat during the process, you need a strong plan of action and the ability change direction when the tide changes. Keeping with a nautical theme, your assignment will center on purchasing a boat from Captain Bob’s Boat Emporium. You spent months searching for the perfect boat and located it at Bob’s. The price of the boat is currently $25,000, which based on your research is about 15% higher than the Fair Market Value. In a few days you are meeting with Randy, a salesperson from the store.
In your paper for this week you will address the following:
- Compare and contrast, then select the appropriate approach that you should take for this situation: distributive versus integrative.
- Create a plan for negotiation in which you address the following:
- Define the interests of both parties
- Identify your limits
- Generate alternatives
- Set a target price
- Analyze the other party
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When it comes to the negotiation, it is important to make sure that the method selected is the most suitable to get the best results. In the distributive method, the two parties are likely to negotiate without the intent of creating a partnership (Galluccio, 2015). The negotiations are mostly formal and are based on one party benefiting more than the other. Second, is the integrative strategy. This is a strategy that is used to make sure that the two parties are able to come to a solution with both parties benefiting most. It is based on a long term relationship and understanding between the parties.
In this case, the most appropriate strategy to use is the distributive strategy. This is an important strategy that is mostly…..
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