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Journal-Discount Negotiation

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Journal-Discount Negotiation

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  • October 25, 2006
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Exercise: Discount and Hawkins
My negotiation partner: Jeremy Ducharse
My role: Tenant (Discount)

Agreement:
We didn't reach agreement but we will continue the negotiation. Process:
After reading the case I sat with Jessica (tenant) to go through the following points: We discussed the OPENING for both parties, we looked at our BATNA as well as what we thought theirs could be. We looked at the number of years as well as the money we would end up paying, which came up to around $125MM. We also went through the 7 elements of negotiation. I sat with my partner (Jeremy Ducharse) knowing I was in a position of power, he presented the situation and highlighted the areas we had previously agreed. I requested my need for flexibility and stated that Discount is successful because we have a way of doing business stated in the ‘corporate policy', we need to follow that policy to become successful and that is what will make Hawkins' mall successful as well. He offered a number of options: I could sublet to a business that sell similar type of product as me, which made me think that could compete with my own business. He also suggested that I could not sublet to a business that competes with any other business in the mall. Finally he mentioned he would like to have a final word on what kind of business we sublet to. By then TIME was up. Conceptual Analysis:

This simulation, like previous ones, let us experiment with the OPENING, the difference in this particular one is that the negotiation process was already started. Another interesting concept that this exercise let us tap on is how POWER is connected with MINDSET. Finally, we realized that TIME CONTROL is a very important skill in any negotiation and that it can play against your interests if you don't make appropriate usage of it. Tactics:

I established the strategy for this simulations beforehand during my meeting with Jessica, we agreed to start soft and gentle but increase pressure for our interests as the...