IT assignment help study on: Negotiation process

Objective:

A concrete case has been taken for discussing negotiation process. A client of a blue chip consumer enterprise was the in charge of it in its branch in Southeast Asia. As the organization had not been earning profit and not performing as per the expectation, the client felt that he may be at risk. He took a decision to negotiate with that company and desired to get an early retirement including a striking separation. In addition, highest earnings of the client had been more than $700,000. Here, the situation of negotiation rests with the client as he has to search and negotiate with a new company.BATNA facts/your arguments:

BATNA refers to best alternative to a negotiated agreement. It is regarded with the best alternative action that can be taken by one party if a proposed agreement does not result in satisfactory agreement with another party or when it cannot be reached. In this case, there are a few accepted alternative approaches to negotiation. Styles are adversarial, problem-solving, and interest-based according to BATNA fact. Therefore, 3 main suggestions can be provided to accomplish negotiation contract properly and effectively:

• A list of actions can be invented prior the negotiation
• Some of the promising ideas can be converted and transformed then into tangible and fractional alternatives
• Best sounding alternative should be selected satisfying both parties and third party (Brad Spangler, 2012)

BATNA facts/their arguments:

For presented concrete situation, other party’s views can be explained. After searching for a better option, the client found an offer of CEO position from a company named dot-com. Here, the views will be presented from that investment company. It offered him an offer of $300,000 and potential bonus in addition, plus a rational box up of options which would be attractive to the client. It was the best alternative option for negotiation from third party’s side. Blue Chip Company communicated client’s needs and the underlying principles behind their request to dot-com company on behalf of the client because the firm has that authority to present the ideas in an official and satisfied manner (John F. McCarthy, Carl A. Scheraga, and Donald E. Gibson, 2009).

Options for agreement:

There can be three main process and options for agreement. The steps are as follows:

• Preparation of negotiations
• Facilitate negotiations
• Design an appropriate agreement

Moreover, as per the analysis of this case of negotiation, there would be a best option of agreement if client agrees to accept that base offer of $300,000. Besides, this option will be worth more than ten of millions to the client if he expects to grow the company (Danial Bodansky, 2012).Third party/outside corroboration:

After making an offer to the client, chairman turned it over to the general counsel in order to formalize the agreement. Everything is discussed by all parties in next ten days. Finally, general counsel gets the deal done and validates it. Moreover, client’s general background, attorney is confirmed by general counsel. In addition, several information and package availability throughout the deal is accomplished in written.

Process, timing and follow-up:

Process in negotiation includes following stages:

• Confirming and refining the agenda
• Providing space for the client and talking about their interests
• Looking for general and mutual benefits with third party
• Expanding the options
• Evaluating those options and then reaching on best accepted option by all the parties (FAO, 2008).Additionally, timings are set for the conferences and meetings with third party to negotiate the agreement and offers. Afterward, timely and regular follow-ups are also gone through in order to make sure the certainty and effectiveness of entire process. Finally, the client and the company were happy with the offer and negotiated it with some extra stocks with dot-com company and then accepted it in a written format by their general counsel.

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