Discuss five negotiation strategies for various situations-Strategies and Tactics
Discuss one of the following statements.
a. Discuss the Five Negotiation Strategies for Various Situations.
b. 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.
o Is there a deadline that will affect the timing of your bargaining?
o 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?
o What other information do you need to collect before you start the negotiation?
o Is the power between the two sides balanced or who appears to initially have the advantage?
o If several economic issues are involved, could you develop a MESO or Economic Matrix of alternatives to offer to the other side?
o Will negotiations primarily focus on one number, such as price, and thus, should you consider a strategy of “Increments of Concession?”
