Preparation for Negotiation Exercise

Preparation

In preparing for the negotiation,  consider the following. 

What are strengths of buyer and seller position?

What issues are important to you?  Prioritize them.  Establish your objective (your aspiration), opening position, and BATNA and/or reservation point. 

What objectives/issues are important to the other party?

What strategy are you going to pursue?  Why? (contending, yielding, win-win, compromising...)

What specific tactics will you likely use? Any you will avoid?

Other matters you consider important in preparing for the negotiation?

Note although the statement at the bottom of the handout for negotiation 1 states that price is the singular objective, this may be incorrect.

Please bring to class a written negotiation strategy consisting of the following (1 page max, less is ok).  Bullets or tables is probably the best way to present this material.

1. Your strengths & weaknesses; opposing party's strengths & weaknesses
2. Each issue and its priority
3. Your BATNA
4. Objectives (your aspirations), opening position, and reservation point. 
5. Issues that are likely important to the other party; its likely positions on these issues

Revised 9/05