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Key Topics
Requirement
Consider a real life bargaining and negotiation situation that involves two parties and the multiple issues to be negotiated that has already occurred, currently in progress, or will occur in the near future in your personal life or at work. Be sure to address the following:
Describe the situation and negotiation environment.
Identify the parties (e.g., yourself, the persons on your side, and/or the opposing parties) including the bargaining positions.
Present the type of third party intervention and procedures if required, (e.g., arbitration or mediation).
Explain how the Best Alternative to a Negotiated Agreement (BATNA) is derived.
Evaluate the theoretical models, methods, sources of power, and analytical procedures required to be utilized in the negotiation process.
Examine the mechanics of the procedures in terms of framing, packaging, use of questions, and types of proposals.
Assess the strategies utilized and the results achieved and/or anticipated in the settlement.
Must begin with an introductory paragraph that has a succinct thesis statement.
Must address the topic of the paper with critical thought.
Must end with a conclusion paragraph that reaffirms your thesis.
Solution
Introduction
Bargaining and negotiations are reasonable tools for reaching an understanding to make a successful deal. As different parties have different needs and goals, so the bargaining strategies are used in order to attain an effective amicable agreement. These procedures are used in the situations such as conflicts of interests, ideological differences or any form of altercation for that matter (Odell, 2012). The negotiation procedure involves a negotiator who plays important role in conflict resolutions. The following report depicts a real-life scenario regarding negotiation and bargaining deals that, in most of situations, happen between car dealers and their buyers.
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Situation
A person needs to purchase a car and therefore visits sellers to sellers in order to fulfill his aim of finding perfect car as per the price, model and features. Before the negotiation process begins, the main parties involved in this case are – buyer and car dealer. However, during this process a lot of issues are bound to arise and needed to be addressed. The buyer has certain models of car in his mind along with the price that he wants to pay for the car. While, the car dealer has different modes with different prices and his aim is to sell any of them probably by luring the potential customers. The negotiation position, here, is that both of them has a certain minimum price for selling and purchasing. The parties, therefore, will have to come to a compromising stage so that they could reach to an agreement where both of them will benefit (Shell, 1999).
Third-Party Intervention
In the above scenario, there is a possibility of an impasse between the two parties, where they can’t reach an agreement. So, in such a situation, for averting legal hurdles, a third party is required, which is neutral in that he has to take an objective viewpoint regarding the case (Brett, Kressel, & Pruitt, 1991). Both the parties then choose a trusted facilitator, who will have to listen to the arguments from both sides in a non-partisan manner. Generally, there are three forms of interventions – settlement facilitation in which the negotiator helps in reaching the agreement by choosing an alternative for them to end up in a win-win situation. The second form is mediation process in which the lines of communications are open for the parties to express their requirements. While, the third one entails a process in which the facilitator has the power to make judgment or decision regarding the conflict. So, in the present scenario, the negotiation between the car buyer and car seller can best be performed with the help of settlement facilitation.
BATNA
The Best Alternative to a Negotiated Agreement will be the final option that both of the parties would expect to get to. The importance of using this approach is that the negotiator or the negotiating parties always have available options regarding good alternative negotiation. This approach empowers all the parties to either reach the mutually acceptable agreement or walk away with a better agreement (Brett, Pinkley, & Jackofsky, 1996). To begin with, both the parties are needed to determine their BATNA well before the process of discussions and negotiations start. So, the BATNA for the purchasing party is to buy a better quality car at the lowest possible prices. Other than that the buyer has to consider the factors like feasibility, impact and consequences. The buyer can go to every car to check out the prices. On the other hand, the car seller will be eying on such a deal that includes fulfilling the buyer’s requirements along with maintaining the margin of profit for the company. So, at the end of the deal, a final decision will be made by the parties that will be based on the fairest prices by both car buyer and car seller.
Identification of Issues
The different issues that are going to emerge in such a situation are that the buyer forgets as to what exact purpose he needs to purchase the car for, that is, whether for business or personal use. On the other hand, the seller, due to the fact that he has to make long term profits, may try to exert pressure on the buyer by exaggerating its features. Also, if the seller comes to know that the buyer desperately needs a particular car and has no other options but to turn to his company, then he will use this leverage in his favor to seal this deal (Rubin, & Brown, 2013). The other possible issues are difficulty in the mode of payment or uncomfortable installments and unavailability of a particular color in a particular model or the difficulties associated with the delivery.
Theoretical Models and Sources of Power
One of the effective theories that can be used in this negotiation process is negotiation based on position according to its need for a particular party. It is a subjective negotiation because both the parties take a stubborn approach rather than making amendments and adjustments to their stand. It is also known as competitive bargaining because they are to reluctant to make compromise. The other applicable theory is interest based bargaining in which each of the parties are ready to consider the interests of each other’s interests by cooperation for reaching to a compromise (Putnam, & Jones, 1982 ). Its main advantage is that both the parties can become creative and innovative to adopt a win-win situation for themselves. Further, the balance of power is an important element in determining effective negotiation to ensure compromise. However, if one of the parties possess more power than the expected compromise will difficult to attain.
Mechanics of procedure
Conversation is very effective factor in this as it ensures that the parties are in a position to have a dialogue and share their predicament. It must include a respect towards each other’s views and opinions. The healthy conversation allows the use of proper mechanisms such as relevant questions. For example, the seller, in the present scenario, may ask what offers does the buyer expects, while the buyer may ask about mileage, performance, extra features and security features of the car. Providing suggestions and proposals will also be done interchangeably.
Strategies to successful negotiations
There are different strategies used for carrying out successful negotiations such as single issue negotiation in which the discussions occur over only one issue (Matos, Sierra, & Jennings, 1998). So, in the present scenario, the price of the car seems to be the single issue on which the discussion could be done. In terms of the price limit, both the parties make their initial offer and the bargaining begins with each party convincing each other to come towards their side of offer. So, the dealer will lower his offer, while the buyer will increase his offer to reach to a successful negotiation.
Anticipated results
The negotiation process is always done with an intention of getting an amicable agreement, so it is expected that the car dealer, at the end of the negotiation, will be able to sell his car without making any loss and the buyer is expected to purchase the car as per his choice in reasonable costs. So, the success of the negotiation is generally based on effective conversation, dialogue and ability to make logical proposals. In terms of the financial capabilities, the buyer can avail extra services or accessories by making a counter offer.
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The process of engaging in negotiations in different scenarios are always helpful because the fact that the parties involved, more often than not, have conflicting ideas regarding the achievement of their goals. So, communication is a better way used by the parties to present their proposals and suggestions for an appropriate compromise. So, a successful settlement is one that takes a win-win stand for both the parties.
References
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Brett, J. F., Pinkley, R. L., & Jackofsky, E. F. (1996). Alternatives to having a BATNA in dyadic negotiation: The influence of goals, self-efficacy, and alternatives on negotiated outcomes. International Journal of Conflict Management, 7(2), 121-138.
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Brett, J., Kressel, K., & Pruitt, D. (1991). Mediation Research: The Process and Effectiveness of Third-Party Intervention. Administrative Science Quarterly, 36(1), 137. http://dx.doi.org/10.2307/2393437
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Matos, N., Sierra, C., & Jennings, N. R. (1998, July). Determining successful negotiation strategies: An evolutionary approach. In Multi Agent Systems, 1998. Proceedings. International Conference on (pp. 182-189). IEEE.
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Odell, J. (2012). Negotiation and bargaining. Handbook of International Relations, 2nd edn, Beverly Hills: Sage Publications, 379-400.
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Putnam, L. L., & Jones, T. S. (1982). Reciprocity in negotiations: An analysis of bargaining interaction. Communication monographs, 49(3), 171-191.
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Rubin, J. Z., & Brown, B. R. (2013). The social psychology of bargaining and negotiation. Elsevier.
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Shell, G. R. (1999). Bargaining for advantage. Viking, New York, NY.
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