Essay on Case 1, Week 5

1561 Words Jun 17th, 2015 7 Pages
Case 1: Capital Mortgage Insurance Corporation
By Unknown
This paper is being submitted in partial fulfillment of the requirements for HRM-595
DeVry-Keller Graduate University
School of Management

Guidelines You Should Follow During a Negotiation "A negotiation is an interactive communication process that may take place whenever we want something from someone else, or another person wants something from us” (Shell, p. 6). In order to have a successful negotiation, there are some guidelines that should be followed in the negotiation of the procurement of the Corporate Transfer Services (CTS). These guidelines include, but are not limited to, setting mutual guidelines and ground rules, ensuring all involved
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The integrative bargaining style is a process where the outcome is a “win-win” situation for both parties. Whereas, the distributive bargaining style normally ends in a “win-lose” outcome where one party comes out on top and leaves the other party “high and dry” and normally feeling frustrated.

The Steps of the Negotiation Process Prior planning and preparation are important if you plan to have a successful negotiation. “Prepare before meeting by considering why you are negotiating, what you expect to gain, why that is important to you, and what you expect to have to offer. If you fully understand your needs and wants you will be able to quickly determine if continuing a negotiation is worth your time” (Associates for Success, 2015). According to the text, the integrative negotiation process has four steps, which include the identification of the problem, determination of all involved parties position, surface interests, and needs. The third step is to generate alternative solutions to the problem. The fourth step is to evaluate the proposed alternative solutions and choose between them. The first three steps of the integrative negotiation process are important because they help to create value. The fourth involves claiming the created value. However, claiming value involves distributive bargaining skills (Lewicki, p. 80). Distributive bargaining consists of four tactical tasks, which include

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