Contract Negotiation

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Contract Negotiation

ACM 397

Contract Negotiation
The section of the book that I found most informative and took the most out of was Part 1, Chapters 1-5. Part 1 covers the nature of negotiation, preparation of negotiations, distributive bargaining, integrative negotiation, and closing deals. Negotiation is a process in which individuals with differing viewpoints work together to come up with a solution that can work for both parties. Negotiation is a huge part of our everyday live. It is also one of the most effective means of decision making. Conflicts arise constantly and people deal with them in all sorts of ways from legal actions to going to war. These conflicts can be anything from what’s for breakfast to a custody battle. There are no limits in life to where a negotiation can come in to place. I myself have had to of the biggest negotiations in my life in the past year. They were getting divorced and purchasing my first car on my own. While the divorce may be a little personal it is a prime example of a negotiation. Through respective legal parties we had to wager out to whom our items we had accumulated would go. We used every step of the typical negotiation process. Together we had a house, three vehicles, a checking account, and savings account to split up. First, the initial stage, we met with our own individual lawyers and gathered information on the other party. Next, the middle stage, we came up with our offer, negotiated, and finally agreed upon a deal. Lastly, the final stage, we made everything legal. Luckily my situation was simple where in the end we came to an agreement where we both got everything we wanted and parted ways happily. Most negotiations aren’t this simple or easily played. Both parties like to play subtle games with each other called shadow negotiation to sort of physic each other out. Some of these games are strategic moves, strategic turns, and appreciative moves. There is a preparation phase every negotiator should...
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