business negotiations 2013
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UNIVERSITI UTARA MALAYSIA
OTHMAN YEOP ABDULLAH GRADUATE SCHOOL OF BUSINESS
BSMH 5113Business Negotiation
Article ReviewThe Art of Negotiating
By;PRIDHIVRAJ NAIDU - 814284
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Presentation Overview
1. Successful negotiation steps
2. Non Verbal Communications
3. Reasons why deals Fail
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Negotiation Steps
1. Recognize
2. Prepare and Plan
3. Establish Rapport
4. Pattern Recognition, mental stimulation and reflection-in-action
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Non-Verbal Communications
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Reasons why deals fail
1. Interests of parties don’t align
2. Mismanagement of the bargaining process
3. Human Psychology
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UNIVERSITI UTARA MALAYSIA
OTHMAN YEOP ABDULLAH GRADUATE SCHOOL OF BUSINESS
BSMH 5113Business Negotiation
Case Study
Developing a Strategic Negotiation Plan:Toyota Highlander
By;PRIDHIVRAJ NAIDU - 814284
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The Case
- Miss Michelle and Miss Yale is interested to buy Highlander 4 wheel drive
- Miss Michelle is trading in her low mileage 1992 Honda Accord LX.
- The Lacey’s however, they would be keeping their current car and financing the purchase beyond a $5,000 down payment.
- Manufacturer’s Suggested Retail Price (MSRP)
- no incentives provided to the dealerships for sales of the Highlander model
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Q1 Best Nego Strategy
- Dual Concern Model
- Competitive bargaining
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Q1 Best Nego Strategy
- Competitive bargaining tactics aim for a large slice of a fixed pie of value
(Amanatullah, Morris & Curhan,2008)
- In the purely distributive case, the interests of
the parties are negatively correlated(Walton & McKersie,1965)
- I win – you lose
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Q1 Best Nego Strategy (Cont.)
- Seller seeks the highest price possible and the
buyer hopes to pay as little as possible. (Barry & Friedman,1998)
- Each negotiator presumably has in mind a reservation price, beyond which he or she will not go in reaching an agreement
(Raiffa,1982)
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Q2 Nego Process
PHASES
PREPARATION
RELATIONSHIP BUILDING
INFORMATION GATHERING
INFORMATION USING
BIDDING
CLOSING THE DEAL
IMPLEMENTING THE AGREEMENT
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