Chat with us, powered by LiveChat Complete the attached negotiation preparation document prior to negotiating in the zoom session with your counterpart. See the sample integrative negotiation planning document that I | Wridemy

Complete the attached negotiation preparation document prior to negotiating in the zoom session with your counterpart. See the sample integrative negotiation planning document that I

Complete the attached negotiation preparation document prior to negotiating in the zoom session with your counterpart. See the sample integrative negotiation planning document that I

Complete the attached negotiation preparation document prior to negotiating in the zoom session with your counterpart. See the sample integrative negotiation planning document that I have posted on ilearn.

Position: What you ask for?

Interests: Why you are asking for it?

Priority: How important is this issue for you?

BATNA: What is your best alternative to the negotiated outcome?

RP: When will you walk away from the table? What is the least value that you are willing to accept? 

Work with the uncertainty–it is unclear what the other party wants in the negotiation. Take your best guess. 

NEGOTIATION PREPARATION DOCUMENTS FOR SIMULATION 2 & 3

ONLY COMPLETE ONE OF THE ALTERNATIVES BELOW: IF ALTERNATIVE 1 IS VERY CONFUSING FOR YOU OR MAKES YOU UNCOMFORTABLE THEN TRY OUT ALTERNATIVE 2

Alternative 1: Fill out the interests, positions and priorities sheet below:

Issue

Self

Other

Example

Position

Position

Priority

Interests

Priority

Interests

BATNA

Reservation Price

Target

Alternative 2: Answer the questions below:

What are the issues in the negotiation? What are you negotiating about? What are your interests and priorities?

What is your BATNA?

What is your reservation price?

What is your target? How did you decide that this is the appropriate target to set?

What do you consider to be your sources of power/leverage?

What do you consider to be the weakness of your position?

What is your opponent's BATNA? Reservation price? Target?

What are your opponent's sources of power and how can you neutralize them?

What are you opponent’s sources of weakness, how can you amplify them?

The Plan:

What is your opening move/initial strategy?

Which specific negotiation skills do you plan to work on during this exercise? List specific actions you will take to build the skills you are focusing on.

PAGE

,

Copyright © 2014 by Jimena Ramirez-Marin and Jeanne M. Brett

NEGOTIATION PLANNING DOCUMENT

Here is a brief example explaining how you would complete a negotiation preparation document for integrative negotiations. Integrative negotiations involve multiple issues— list each of the issues in the negotiation in the first column. Write down your position for each issue and then explore your interests (or the reasons behind the position). For each issue write a number to indicate a priority. I completed a sample negotiation document here. I am representing a large pharmaceutical company (Company A) who is interested in acquiring a smaller biotechnology company (Company S) that manufactures and sells a novel therapy for reducing tumor size in cancer patient using magnetic fields.

Issue Self Other Example

Position Position Priority Interests Priority Interests

Acquisition price

10 billion Company S may want 12 billion as other options likely exist for them

1. This technology can not be developed inhouse. No other company has explored this technology. We can recover the 10 billion in 5 years and patent for the technology doesn’t expire until 2035. We have been wanting to expand in this technology and have the manufacturing infrastructure for this technology.

1. Recent data about technology efficacy has been very positive. Other competitors are likely to offer them a good deal They could not sell immediately and wait for large scale data to come out, giving them greater leverage if they anticipate positive results. Top management and board may be interested in immediate gain Founder is 65 and may be interested in retiring Recent deals in this space demonstrate sky high valuations of new technology companies.

Employees We only want to keep their research and development team (50 employees from current 200

employees).

Company S Wants us to keep all their employees

2 We have a strong marketing and sales team—a set of new

2 The economy is not doing particularly well and it may be difficult for employees to

Copyright © 2014 by Jimena Ramirez-Marin and Jeanne M. Brett

people may not fit with our current culture. We want to make sure that no information is leaked about data and technology—only research teams and R&D top management is privy to this information. We have not marketed a similar technology before and the current marketing team may have networks that we have not explored

find jobs. The company culture prides itself in taking care of its employees and has been a value led organization Firing the bottom 20 percent may leave them with legal problems They will need to pay huge severance packages to some of their older employees and may benefit from allowing them to work for us.

Contingency about data

The deal is contingent on the large scale data being positive as

explained by specific parameters *efficacy better than current market standard with better

safety/fewer side effects

Company S likely wants us to remove this contingency

3 We can reduce risk by ensuring that the drug is in fact successful. Previous studies have included small sample sizes. While the data looks positive, it is not usual for null effects to show up in larger studies.

5 The data will not be available until another 6 months. They may want to take other offers by then. If the data is positive, the valuation may change and they could ask us to revisit the contract then. They may add a contingency based on the nature of the data that better suits their interests.

Founder Would be good to employ the founder in our Top management

for a year or so

The founder may be interested in retiring

4 She has been a valuable contributor in this field She has a lot of knowledge about this technology The VP of RnD though may be as knowledgeable as the founder and we may be able to retain him.

4 She seems motivated to see the technology through the market. She has a long history in patient care and may want to do what is best for the technology. Her husband is older and unwell -she may want to spend time with him

Copyright © 2014 by Jimena Ramirez-Marin and Jeanne M. Brett

Rent We could use extra space They may want us to pay the rest of the lease for their SF building for the next three

years. Not an issue we care

about. We believe the coronavirus pandemic will end soon and everyone will be back into their office space. Our current building lease is expiring and we could possibly move some staff to the other party’s building. We have flexibility here.

3 Many companies are not using their office space. At this point the company may want to shut shop depending on what deal we sign about the employees and the extent to which they are committed to their current employees.

BATNA We could expand in an alternate immune therapy technology. Sources say the market potential and promise is similar.

Other sources say they had an offer for 10 billion that they refused 2 months ago. Competitors are eyeing this product, but not too many big pharmaceuticals have the knowhow to easily adapt this technology and manufacture the product in safe and reliable ways

Reservation Price

14 billion and retaining 60 percent of their employees (mostly RnD with some foks from strategy, sales, and marketing)

10 billion??

Target 11 billion 15 billion ??

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