The Bargaining Mix

BA 303 WK 4 Business Negotiations

The Bargaining Mix

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Text Box: 1) Define the negotiating goal 2) List the major issues in the negotiation related to achieving the goal. 3) Define their relative importance of each issue, and define the bargaining mix. 4) Define the interests. 5) Define the alternatives (BATNAs). 6) Define your limits, including a resistance point. 7) Describe your understanding of the other party’s goals, issues, and resistance points. 8) Set your targets and opening bid. 9) Assess the social context of the negotiation. 10) Outline how you will present the issues to the other party: what to say and how to say it.Consider the following scenario and answer the questions (taken from Table 4.2) below.

1) Define the negotiating goal

2) List the major issues in the negotiation related to achieving the goal.

3) Define the relative importance of each issue, and define the bargaining mix.

4) Define the interests.

5) Define the alternatives (BATNAs).

6) Define your limits, including a resistance point.

7) Describe your understanding of the other party’s goals, issues, and resistance points.

8) Set your targets and opening bid.

9) Assess the social context of the negotiation.

10) Outline how you will present the issues to the other party: what to say and how to say it.

 

You are a manager of a large retail outlet and have been employed with the organization for four years. The retail outlet employs approximately one hundred employees and has a number of management roles (Several Assistant Managers, several Managers, two Senior Managers, and a Director). For the last two years, you have been an Assistant Manager and have received what would be considered fair compensation for your role.

 

Over the last year, you have been asked to take on many of the responsibilities of a Manager, as one of the Senior Managers left the company and your Manager has essentially taken on that role. Your additional duties have caused you some stress and you would like to ask for either a promotion to a management position or, at minimum, additional compensation. You’ve previously expressed your frustrations to your Manager, but have been told that the company simply doesn’t have the ability to make any changes at this time. You have decided to approach your Manager again and ask for a meeting with the management team to discuss your future with the company.

 

Although you would prefer to take the promotion along with an accompanying pay raise, you are willing to accept a modest pay raise. If neither is agreed to, you have decided to begin looking for work at another organization. A friend of yours has let you know that she would be interested in talking with you about the possibility of taking a management position with her organization. Because of your time with your current company, you would prefer to stay there if possible. As you are a very shrewd negotiator, you have decided to use the Negotiation Planning Guide (Table 4.2) on Page 98 of your text.

 

Additional information that is useful in answering this question: 1. Your current salary is $44,000 per year. 2. The average salary for a Manager is $54,000 per year and also includes an additional week of Paid Time Off.

Answer the following questions:

1. What are the issues in the upcoming negotiation?

2. Based on a review of all the issues, what is the “bargaining mix”? (Which issues do you need to cover? Which issues are connected to the other issues?)

3. What are your interests?

4. What is your resistance point – what is your walkaway?

5. What is your alternative?

6. Define your targets and asking price – where will you start and what are your goals?

7. Who are your constituents and what do they want you to do?

8. Who are the opposing negotiators and what do they want?

9. What overall strategy do you want to select?

10. What protocol needs to be followed in conducting the negotiation?

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