Assignment Task: Negotiation Role Play & Summary
Your Task:
You will engage in a negotiation for the sale and purchase of a commercial asset such as a business or a piece of real estate.
Assessment Description:
You may be nominated to represent the vendor and will receive email instructions from the vendor company CEO including:
1. Appointment to represent the company as their agent for the sale of the commercial asset;
2. Specific details about the commercial asset;
3. Information about the status of current negotiations with an alternative potential purchaser;
4. Information about a new potential purchaser;
5. Contact details of the agent appointed to represent the purchaser.
Alternatively, you may be nominated to represent the purchaser and will receive email instructions from the purchaser company CEO including:
1. Appointment to represent the company as their agent for the purchase of the commercial asset;
2. Specific details about the commercial asset;
3. Information about alternative assets the company is considering purchasing instead;
4. Information about the vendor;
5. Contact details of the agent appointed to represent the vendor.
Part 1: Pre-negotiation (1,000 words)
You must answer the following questions:
1. What is your thinking style preference form - monarchic, hierarchic, oligarchic, anarchic - and what is your thinking style scope - internal, external?
Attach copies of completed Sternberg-Wagner Thinking Style Inventories.
2. Are your thinking style preferences - form and scope - optimal for conducting this negotiation?
Explain your answer.
3. What adjustments (if any) could you make to adapt to a more optimal thinking style for this negotiation?
4. What is your client's BATNA? What is your client's reservation value?
5. What is the other party's BATNA? What is the other party's reservation value?
6. What is the ZOPA range? What is your strategy for claiming the greater proportion of the ZOPA?
Include at least five academic references from academic journals and textbooks.
Part 2: Negotiation (300 words)
You must:
1. Enter negotiations with your counterpart for the sale and purchase of the commercial asset;
2. Maintain a communications log that captures the date, method, items discussed, and outcomes of each communication.
Attach copies of any communications that confirm agreed price.
Part 3: Post negotiation (400 words)
You must prepare a 1 page letter to your client advising the outcome of the negotiation.
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Attachment:- Negotiation Role Play and Summary.rar