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- What is your overall goal(s)?
- What are the issues?
- How important is each issue to you? (Rank in order of importance) ③ Consider your risk preferences for each issue and rank
- Consider your time preferences or ranges for issue and rank
- What information do I need to convey to the other party enable them to better understand my perspective?
- What are your resources and capacities (What do you bring to the table that can be used to create value?)
- What are your alternatives – What is your BATNA or next best option if you can not reach a negotiated agreement?
- What is your resistance point? (The point at which you will walk away) Are you confident on what issues or what values you can concede on and how far you can concede to (you resistant point)
- What is their overall goal(s)
- How important is each of your issues to them? (Rank in order of their preferences)
- Anticipate their issues
- Consider their risk preferences for each issue and rank
- Consider their time preferences or ranges for issue and rank
Note: These should be identified from your research and discussions with them
What information do you need to acquire to better understand their perspective?
- What are their resources and capacities (What do they bring to the table that can be used to create value?)
- What are their alternatives – What is their BATNA or next best option if they can not reach a negotiated agreement?
- What is their resistance point? (The point at which they will walk away) 8. From the above information what is your target?
- What Deadlines exist? Who does this affect and how?
- What Objective criteria available to assess the fairness of the deal – How will we assess if the deal is fair for all parties?
- What do you want to avoid? How will you counter?
- What protocol should followed (agenda, location, course of action if impasse, accurate recording)
- Who should be in the negotiation team and what do they bring to the table? What are the roles of each team member – lead, analysis, note taking, etc
Relationship between parties
- If negotiations are repetitive what strategy will be used?
- Trust levels:
- How well do you trust the other party and why?
- What occurred in previous experiences in dealing with the party that may impact trust levels?
- How well do you think they trust you?
- What action needs to be taken to ensure trust is built?
- Authority to make decisions:
- What are the limits of our authority?
- Do they have authority to make a final decision?
- Commitment. How can we guarantee follow though from both sides? 5. Discuss agenda in advance
What are three options that could be tabled for consideration that meet both party's interests
What 'packages of issues and their ranges' will be put together and offered? How will you present these?
How will you support these options?
How will you ensure their legitimacy and fairness to all parties?
What approach is required to create value – competitive/distributive or cooperative/collaborative?
Do you understand the numbers/dollars?
Have you created ranges in which you can work, rather than fixed figures (eg. From $7,000 to $9,000 rather than $8,000)
What can you concede in exchange for what?
What is your best case scenario?
What is your most likely case scenario?
What is your worst case scenario?
What is their best case scenario?
What is their most likely case scenario?
What is their worst case scenario?
- The overall goal is to obtain a lead singer for the opera concert – Bellini’s Norma as the artist, Rita Ringstar, who was previously supposed to act as a lead singer, cannot perform. The next choice for the same is Sally Saporno.
- The issues that are here are the fact that there is a budget that is available to the company and its an urgent situation where it is necessary to cast a singer at the earliest.
- A) The budget is a constraint, the maximum that can be paid to Sally for the role Is 45,000$ that would also be stretching the budget.
- B) The second issue is the time constraint; the singer needs to be cased at the earliest possible occasion
- The resources and capacities are the amount of money that can be paid to Sally Soprano for the role and apart from the fact that role would bring publicity for Sally and can be used as an occasion for Sally to rise as a star again.
- The next best option in case the deal doesn’t fall through with Sally is to cast the secondary singer in Sally’s role and hope that the secondary singer can perform.
- The resistance point for this is the money; if Sally demands anything more than 45,000$, the deal will fall off. The maximum that can be offered is that. The main negotiation would be the money aspect as Sally is quite willing to perform the role which was gauged from the phone call that was made earlier regarding the availability of the role.
- The overall goal for Sally Soprono’s agent is to get her the best deal that she can out of the negotiation.
- A) The first issue that is important to them is to get the best deal out financially.
- B) The second important issue is to ensure that the decreasing publicity for Sally is reduced and she can be brought back to fame.
- The risk preference for each issue is that in case Sally doesn’t sign for this, a chance for her publicity and rise back will decrease. This is a sure shot for her to climb back to fame. The second risk is that she will not be paid enough for the role, so monetary loss. The third is that in case the second lead singer is signed up for it, and she rises to the occasion it would lead to a loss for Sally not only on this project basis but on an industry basis. The information that can be used can be what other alternatives does she have if not this?
- The resources and capacities that Sally brings to the table is experience, as the show is in 3 weeks because of her experience, she will not take a lot of time in preparing for the show. The second thing that she brings on the table is the fact that she has a loyal fan following, there are people who like her and would pay to watch her.
- The BATNA for them would be Sally looking for other alternatives such as she might join other operas, take secondary roles or indulge in something different. The options available to Sally haven’t been disclosed.
- The resistance point for them would be the point when Sally isn’t being paid enough, or there is an impossibly tight schedule for her performances.
- The target here is for Sally to get the best deal out of this monetarily.
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