Negotiation Strategy Article Analysis
In this world, the likelihood of being involved or exposed to a negotiation is more common than one may think. In considering yourself, another individual, party, or group that is involved in a negotiation, a strategy should be followed. Although most people view negotiation as a fixed sequence (Salacuse, 2007), having a planning process allows for the negotiator(s) to review all issues and determine a bargaining mix based on the relevant facts (Lewicki, Saunders, & Barry, 2006). The proceeding will depict negotiation processes used in real life scenarios where either distributive or integrative negotiation strategies were engaged in resolving a negotiation. Style and Strategies within Debt Negotiations
As American people continue to deal with the nation’s economic downturn, many people are faced with the notion of debt negotiation. Let’s face it; nearly someone has some sort of financial debt. People would rather file for bankruptcy than negotiate the possibility of a rate reduction (Brinker, 2007). This is mainly due to people’s reluctance of having anything to do with bill collectors or collection agencies. Considering an average savings cost of $0.50 on the dollar or less (Brinker), creditors are still willing to negotiate debt settlement with debtors. When looking at the type of strategies that are imposed by either debtors or creditors to reach a negotiation, there needs to be collaboration between both sides. This allows for the two parties to reach a degree of assertiveness and cooperativeness that enables mutual goals to be met (Lewicki et al., 2006). While no one intends on not paying back what they borrow, there can be many reasons for failing to meet a credit agreement. Despite the consequences of someone neglecting their financial responsibilities, creditors would rather settle with debtors for something and severing the relationship (Sarwana, 2008). Creditors are willing to accept a loss than...
References: Brinker, M. (2007). How To Negotiate Settlements On Credit Card Debt (It Ain’t Sexy, But It’s Got Teeth). Retrieved May 31, 2007, from http://www.hoffmanbrinker.com/blog/how-to-negotiate-settlements-on-credit-card-debt/
Lewicki, R., Saunders, D., & Barry, B. (2006). Negotiation (5th ed.). New York, NY: McGraw Hill.
Salacuse, J. W. (2007, February). Write First, Talk Later? Using Drafts to Make Deals. Negotiation, 1-4. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=24198903&site=ehost-live
Sarwana, P. (2008). Credit Card Debt Negotiation - Negotiating Debt Settlement. Retrieved June 2, 2009, from http://www.buzzle.com/articles/credit-card-debt-negotiation-negotiating-debt-settlement.html
Zack, A. M. (2003). THE QUEST FOR FINALITY IN AIRLINE DISPUTES: A Case for Arb-Med. Retrieved June 5, 2009, from http://www.allbusiness.com/human-resources/workforce-management/930443-1.html
Please join StudyMode to read the full document