Negotiation and Rival Vendor

Topics: Negotiation, Goal, Contract Pages: 8 (2520 words) Published: May 28, 2014
Negotiation and Conflict Management Final Report
“It’s time to go to the next level of my career,” I told myself a few months ago. Life and life experiences have put me in the right place at the right time to make my daydream a reality. As a natural born citizen of another country and as a newly-married person, I have a unique perspective as well as a set of obstacles and opportunities on the road ahead as I pursue my Executive MBA while being in transition. GOALS

My current short-term goal professionally is to find a job that not only fulfills my current ambition of being technical leader but also a management leader in the IT world, where as my long-term goal is to start my own business (Repurposing and creatively painting old leather products into house decor) along with my life-partner in the next 3-4 years. My personal goal is to again relive my artistic side, paint and be creative and get my spouse involved in the artistic world that I like. I am at a juncture of my career where in both my personal goal of working with my life-partner coincides with my ambition of starting up a new business and apply whatever knowledge I gathered during class. My goal as far as EMBA classes is to actually be able to not only learn Finance and Accounting but actually try to master it is as much as possible because when my goal of opening up my business becomes a reality, I want to make sure I have command over that.

NEGOTIATIONS
In my previous company, I had the opportunity to be a part of some important negotiations which helped me as well as the project understand the various aspects that we had predominantly neglected at the start of some of these negotiation. One such negotiation was when a rival vendor was trying to sell their new software to our client which they claimed would be doing the same kind of work that we were doing for past few years. When the time came to negotiate the new contract for our project, the clients asked us to come up with a plan as to why they should consider our software v/s the rival vendor’s proposed software. When I tried to analyze the whole negotiation process that we went with the end clients and even though we managed to extend the contract, there were a lot of issues that were not par with the 3D negotiation which are as follows: We didn’t set up the right negotiation as the right party and right interests were not set up. We never considered the No-Deal option.

Never paid attention to the six basic interpersonal skills that are essential for negotiation. My short term goal of being a technical as well as managerial leader in IT would require me to be a part of similar negotiations that I mentioned above. Right from extending contracts, to getting funding for maintenance and development of software, getting more business from different set of end clients which might be interested in similar software. Here are some of the important factors that needs to be considered while making these kind of negotiations.

My long-term goal of opening my own business with my spouse is something that would require a lot of negotiations that needs to be done be it with the bankers or venture capitalists who might be interested in funding it, real-estate people who might be interested in selling or renting their property and the end clients/customers who would be interested in buying my end products. These are the three key area of people that I have to get involved with in-order to start my business successfully.

While dealing with the Bankers/VC, one thing that we need to keep in mind is that we might have issues with one of them, so we need to keep more options and try to find the right new parties who might be interested (right players). With the Real-Estate people, you need to address the Twin tasks, namely, Learn about the true ZOPA and Shape your counterpart’s ZOPA perceptions to your advantage. New customers are more interested in creating and claiming value like discounted cash...
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