hello i hope to response to the 3 paragraphs, to agree with them the idea and write about the idea, the response don’t make it more than 6 sentences. also this is negotiation class.

1-During the negotiation, I was the buyer. Again, I let the seller take control, by naming the price. We went back and forth a few times, but I could have been stronger in providing reasons as to why the price should have been lower. In class, one tactic we learned was to “give an inch, to gain a mile.” In this case, we had the work force and patent to negotiate with. This is were I felt I could have been stronger. I should have used those bargaining chips to negotiate. On the other hand the seller I was working with, gave a very steep price. I did try to negotiate with him, but he was not listening to what I had to offer. In other words, I do not feel he was listening to my needs and maybe I was not listening to his. I could have purchased the patent or more strongly considered the value of the work force. We ended with no negotiation, which is not beneficial to either parties. I now need to look for a new building or build a new building and the buyer still needs to sell.

2- For this exercise I was a buyer from BioPharma and Aarohee was the seller. In this case, the negotiation was controlled by me, the buyer. The reason for this was that Aarohee made the first offer and that made me realized that our target price was way higher than theirs, which meant I could lower my offers and get a better deal that what I had planned. The main factors in this negotiation were price, readiness of the plant and workforce. There was also another product on the table, but BioPharma was not interested in that at all. The difference between this exercise and others was that the buyer’s expectations were not considering the seller money situation, and the fact that they were very eager to sell for a much lower amount. I believe that in this particular case, whoever made the first offer would reveal the other side range of negotiation. In this exercise, I learned again that it is very important to enter a negotiation with a very clear picture of the situation and my needs. BioPharma had a very big margin to negotiate a great price that would benefit its product manufacturing by cutting on investment and time. However, I also learned that maybe be the first one to make an offer does not always give you the upper hand. On the other hand, Aarohee was very honest and open about their side of the negotiation, which made it very easy to find a great deal for both sides. I believe it is very positive to feel that the other side is not trying to deceit you or that they have a hidden agenda. In the future, I think I would be very careful when making the first offer.

3- The negotiation was equally controlled. There were times when BioPharm (Jay) was in control and other times when Seltek (myself) was in control based on our points of interest and positions. We both new what we wanted and that came across at different points. Some critical factors for this negotiation was the plant, patent, employees and the price. For Seltek, closing the deal on a turnkey operation would have included critical factors however other purchase options were available. Coming to an agreement on the critical factors was important in making the deal for both BioPharm and Seltek and in the end we secured the sale based on this. In comparison to other negotiation exercises, this negotiation was different as a different type of bargaining style was needed. This required distributive negotiation as both BioPharm and Seltek claimed value for their company and we both had a BATNA. The terms and conditions were different considering this was a single sale opportunity without further contract obligations or sales.

From this experience I learned that preparation is vital and having a planning document or critical information handy as a point of reference can serve as guidance and control throughout the process. I learned that the behavior of others can be based upon personal style and the situation or terms being negotiated. I also learned that bargaining is based on claiming value which was important in this situation and accurately identifying a problem can help resolve conflict in the negotiation process. In the future I would like to approach each negotiation based on the context of the situation and my company expectations.

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