In studying decision-making, researchers have realized our ability to make a rational, or "perfect", decision is often constrained by a number of components: time, information, and resource. In negotiations, the constraints will take the form of power, information, and/or time. I have described a negotiating scenario below. Your assignment is to provide (creatively, but realistically) some pertinent missing details. The basic background will remain unchanged, however you are to create additional circumstances and details to highlight "what it might look like" when one party has an advantage over the other. The submitted scenarios will be graded independent of one another so there is no need to constrain yourself. In other words, if you made Party #1 an exclusive supplier of the product in Scenario #1, you can suggest in Scenario #4 that there are many vendors that supply the same product as Party #1. Scenario: Mary is an owner of an independent movie theatre. She has just learned that her supplier of popcorn will no longer be able to provide her with product. She is preparing to negotiate with Pete who owns a local popcorn manufacturing and distribution company. Who has the advantage in this situation?
1. In what circumstance does Mary have the negotiating advantage of TIME?
2. In what circumstance does Mary have the negotiating advantage of INFORMATION?
3. In what circumstance does Mary have the negotiating advantage of POWER?
4. In what circumstance does Pete have the negotiating advantage of TIME?
5. In what circumstance does Pete have the negotiating advantage of INFORMATION?
6. In what circumstance does Pete have the negotiating advantage of POWER?