Milestone Three requires students to use their research on culture, economics, and stakeholders in order to create a bargaining strategy to employ during negotiations with their potential business partners. Students must explain how this strategy will increase the likelihood of a successful outcome using research and previous milestones as support. Milestone Three must include a Best Alternative to a Negotiated Agreement (BATNA) that will strengthen the student's negotiating power.
Specifically, the following critical elements must be addressed:
Negotiation/Bargaining Strategy
a) What bargaining strategy will you use in your negotiations with your potential business partner? Justify your approach with supporting evidence from research.
b) Why will this strategy be effective with the chosen culture/country in which the negotiation is taking place?
c) What is your BATNA? How does it affect your negotiation approach with your potential business partner? How will your strategy increase the likelihood of a successful outcome?