Negotiation adn Conflict Resolution

Essay

NEGOTIATION AND CONFLICT RESOLUTION

COURSE

INSTRUCTOR

SUBMITTED BY Question 1 : List and explain three significant factors of negotiation Explain why they are significant and how they can be used by someone

Answer : The three significant factors of negotiation are as follows

Power : This is the ability of a party to influence decisions and apply control over the situation and thus , is a significant factor in the course of negotiation . Power comes into play when a person has sufficient knowledge and expertise on a field and is able to

make decisions with confidence which carry high credibility

Time : Time in the course of negotiation represents the need for each person or party to achieve a result and make decisions on time . If results are not achieved on time then projects would remain incomplete This can hamper the success of an organization and it will not be able to compete with other organizations in the industry . Therefore , time is a crucial factor of negotiation in agreements . It can be used by parties in effectively negotiating on their agreements so that work can be completed on time

Information : Without this factor , negotiations are not possible . Each party must have sufficient information about each other 's wishes and desires to agree on a certain point . When the parties involved in the course of negotiation will have this information then can effectively arrive at a proper decision and then continue the work productively Question 2 : Assume you are about to begin negotiating for the purchase of a new condo . As part of your preparation you determine your price your resistance point and your opening offer . Why are these prices key points in your analysis

Answer : The price , resistance point and the opening offer represent the key points in an analysis because these will determine the outcome of negotiations or bargaining . These three points help in determining the final solution or the final agreement (McShane and Von Glinow , 1993

Question 3 : When if ever is it good idea to make the first offer in a negotiation

Answer : It is a good idea to make the first offer in the course of negotiation when you know the true value of the asset being offered for sale or purchase to the other party or have enough information about any issue being discussed for negotiation . It is also wise to make first offer when the issue is important enough for you to come out in your way and you have realistic expectations which can guide the negotiation strategy

Question 4 : Explain why it is important for you to know your BATNA before you begin to negotiate

Answer : BATNA basically represents the alternatives to negotiated agreements . It is important for a party to know its BATNA because unless it does not know about its alternatives , it cannot make a wise decision It allows a party to choose the terms that are most favorable to it . If the proposed agreement for negotiation appears to better than the party 's BATNA...