Assignment 1 Negotiation and Bargaining

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Assignment #1 Negotiation and Bargaining
1. Using the definition of negotiation as provided in the text, modify the definition so you can include aspects of negotiation you deem important. “Negotiation is a form of decision making in which two or more parties talk with one another in an effort to resolve their opposing interests (Essentials of Negotiation fifth edition.” Negotiation occurs on a daily basis. It occurs between businesses, partnerships, marriages, friends, family and even law enforcement. “Negotiations occur for several reasons: (1) to agree on how to share or divide a limited resource, such as land, or property, or time; (2) to create something new that neither party could do on his or her own, or (3) to resolve problem or dispute between the parties.” My job requires negotiations quite often. One example was negotiating the price and labor charge for installing missing air condensing units outside resident’s home in the apartment community. First, I had to contact vendors and give them and request a bid. Once I begin to receive the bids then I was able to review what each had to offer. Once determining that it would be more cost effect to have the services completed separated then I could negotiate on price and labor. I used the different bids get the cost down by contracting the servers separately. This was a big job my contracting purchasing and installations of 21 air condensing units. The price per unit stated out at $500 per unit and after negotiating price to $435 per unit. The factory wanted to sell their inventory that was sitting in the warehouse and the apartment community needs the product. 2. Critique the idea of interdependency in negotiation.

”One of the key characteristics of a negotiation situation is that the parties need each other in order to achieve their preferred objectives or outcome. That is, either they must coordinate with each other to achieve their own objectives, or they choose to work together...
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