Pemberton’s dilemma Exercise
Me and our team worked on an exercise called Pemberton’s Dilemma. In preparation, I was initially confused with scenario of the Pemberton's dilemma. I took the book of Negotiation: Readings, Exercises and cases and read in detail regarding the exercise. I waited for the professor to provide the team and the role whether our team were country market or corner store. I also Read the instruction given in the handout’s for the exercise were we note our profit’s or loses and which also had the objective of the exercise.
Plan Used to maximize the Profit’s or minimize the loses
We got the role of corner store. The plan that our team used initially was strictly competitive to gain profits since we don’t have any idea about the counter party and later it became accommodating. After we went a negotiation conversations with the counter party in two negotiation breaks’ which were of 5 minutes each. As a team we planned from the instructions to gain profit against the counter party in order to maximize our team’s profits at any cost, but maximizing the profit along with a long-term relationship in the future was tough. I believe the strategy our team used was collaborative. At the end of the negotiation exercise both our team and counter party have equal profit’s along with good relationship.
How plan was started and conversation went on in the Team
As a team our member had an initial strategy that was communicated well , alternatively I have another way of moves so that our team opens the store for fewer week’s which reduces work load in handling the store open for less time and gaining profit’s when compared to the counter party opening the store more time .I later Identified in my plan the profit’s that were going to be made were less when compared with the proposal of our team member. When discussing, our initial moves are opening the store for the first four week’s since to maximize our profits and also...
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