Essentials of Negotiation Essay Example | Topics and Well Written Essays - 2000 words

Essentials of Negotiation - Essay Example   Describe your negotiation style. My negotiation style tends to be integrative and principled. My primary strength is that I have a good motive in seeking to obtain a win/win situation for all parties; I want to define the goals and maximize the objectives for everyone within a discussion framework that has fair standards and a high level of integrity. The weakness in my position is that a dishonest bargainer could possibly use my desire for consensus to manipulate me through deceit or hardball tactics. 3a.1 I had two friends who engaged in an integrative bargain resulting in a win/win situation. ... The first had a vehicle with relatively high monthly payments. His objective was to get out from under the financial strain and he wasn't concerned with making a profit on the deal. My other friend didn't really need another car but liked our friend's vehicle more than the one what she was driving. They both wanted to make sure the other achieved sensitive to the other's position their objective. She sold her vehicle, bought his for the payoff and, after refinancing with the down payment from the sale of her car, obtained lower monthly payments for herself. Everyone ended up happy. 3a.2 A family friend was the chief financial officer for his company. In analyzing the corporate debt, he determined that a refinance of the mortgage would save thousands of dollars. He called in his banker and asked for a reduced interest rate. At first, the banker was reluctant, but when the CFO mentioned that he could find a better deal at a competing bank if he moved all of the company's accounts (savings, checking, and investments), the banker quickly conceded. The company got a reduced payment and the banker kept the all of the accounts, the loss of which would have cost far more than lowering the interest rate. Even though a concession was made, both parties ultimately won. 3b. Win/Lose 3b.1 One of my relatives knew an individual that had come into some very difficult financial conditions. That person wanted to sell their car to pay off a hospital bill. My relative knew exactly what the other person owed on the car, and hard balled them into taking a price that yielded a $500 profit by pulling out the cash and putting it on the hood.  Ã‚