Strategies and Tactics Discuss one of the following statements Discuss the Five
ID: 1200897 • Letter: S
Question
Strategies and Tactics
Discuss one of the following statements
Discuss the Five Negotiation Strategies for Various Situations.
Think about a situation in your life or work in which you need to choose a negotiation strategy. First answer the questions below regarding the “key elements” of the situation, i.e., time, information, and power, and then answer the strategy questions which can help you select a preferred overall strategy to use as you start negotiating. Is there a deadline that will affect the timing of your bargaining? What is your BATNA and demonstrate how it is calculated? What is your best estimate of the other party’s BATNA? Is your BATNA your starting or walk-away point? What other information do you need to collect before you start the negotiation? Is the power between the two sides balanced or who appears to initially have the advantage? If several economic issues are involved, could you develop a MESO or Economic Matrix of alternatives to offer to the other side? Will negotiations primarily focus on one number, such as price, and thus, should you consider a strategy of “Increments of Concession?”
Explanation / Answer
The best strategy i can think of in my real life is with an auto showroom person,
There are 100's of car models available in market today, There are so many alternatives that it is difficult for customer to decide which one to think of,
The deadline esentially is usually the season of business, I usually do a lot of work in summer season, so the best strategy is to buy car before summer begins to gain maximum utility for this year
The best alternate is always available and i have entered into negotiation only becasue i thinik that this particular model is very useful to me
The other parties BATNA is relatively low, because they have no choice but to sell the product to me
My BATNA surely is my walk away point, becasue you know why you enter the negotiation so it cant be your starting point
The power is not balanced on both sides, I have more power to negotiate because the likeliness of me walking away from deal is very high
The other sides needs to generate volumes so they offer discounts, I as a consumer have 100 brands waiting for me with similar offers,
Sure price is the main focus of all this discussion so we must consider increments of concession.