The activity on negotiation was remarkable. Our team was tasked on being Tenet Healthcare, Easton Hospital’s possible capital partner. The bottom-line of our negotiation is centered on reduction of the current number of 369 beds to a targeted 275-bed capacity, streamline the management and staff to about 25% to offset the reduced bed capacity, establishment of union for employees’ benefit and lastly, given that Easton Hospital is a not-for-profit institution, Tenet is geared on the cutback of care for the indigent from the previous reported $4M of unaccounted costs to a much more viable amount of $1M.
During the commencement of the meeting, the other party, being the Easton Hospital set off the atmosphere for negotiation. Their legal representative, …show more content…
From further research, I realized that we were employing both distributive and mutual gain negotiation process model. For the distributive, both parties trying to claim the maximum amount of value of their objectives. It was noted that there were several competitive interactions, especially on the part of Tenet who was mostly opposed to the interests raised by us. This brought about heated discussions and a couple of strong feelings erupted on the part of the president of Easton, Amanda Henry. Despite the emotions, our group remained composed and continued on with the negotiations. We utilized mutual gain when both parties started realizing and understanding the interests and provided alternatives. But, like in every negotiation, despite creating value and following through, there exists a non-acceptance of terms, aligning commitments and are not met which usually ends up in a conflict without any resolution.
I must admit that I revealed our cards all too soon, specifically the reduction of bed capacity to 275. But with that disclosure, it has opened up to several bargaining points on both parties. The allotted time for negotiation was moving towards no resolution, so it seemed both did not either gain or lose its footing in the …show more content…
On top of that I have never been an enthusiast of negotiation. This could be attributed to my culture of avoiding conflict. But having seen how the activity transpired in the class, I was able to gather some important inputs that I would be able to utilize and enhance my negotiating skills. For one, it is crucial to have a strategy in mind before the start of the negotiations. There should be no initial disclosure on the budget or other limitations in the negotiating position. Also, it is significant to watch for clues such as body movement, speech patterns and reactions gathered from the other party because these Nonverbal cues are seen as key indicators of a person’s true feelings. So, if one is mindful of these differences, it is likely to have a greater chance of sealing the deal. There are several strategies in approaching negotiation but I believe is of the essence is to be prepared to know the absolute bottom line of what you are willing to settle for and beyond which you will walk
During the commencement of the meeting, the other party, being the Easton Hospital set off the atmosphere for negotiation. Their legal representative, …show more content…
From further research, I realized that we were employing both distributive and mutual gain negotiation process model. For the distributive, both parties trying to claim the maximum amount of value of their objectives. It was noted that there were several competitive interactions, especially on the part of Tenet who was mostly opposed to the interests raised by us. This brought about heated discussions and a couple of strong feelings erupted on the part of the president of Easton, Amanda Henry. Despite the emotions, our group remained composed and continued on with the negotiations. We utilized mutual gain when both parties started realizing and understanding the interests and provided alternatives. But, like in every negotiation, despite creating value and following through, there exists a non-acceptance of terms, aligning commitments and are not met which usually ends up in a conflict without any resolution.
I must admit that I revealed our cards all too soon, specifically the reduction of bed capacity to 275. But with that disclosure, it has opened up to several bargaining points on both parties. The allotted time for negotiation was moving towards no resolution, so it seemed both did not either gain or lose its footing in the …show more content…
On top of that I have never been an enthusiast of negotiation. This could be attributed to my culture of avoiding conflict. But having seen how the activity transpired in the class, I was able to gather some important inputs that I would be able to utilize and enhance my negotiating skills. For one, it is crucial to have a strategy in mind before the start of the negotiations. There should be no initial disclosure on the budget or other limitations in the negotiating position. Also, it is significant to watch for clues such as body movement, speech patterns and reactions gathered from the other party because these Nonverbal cues are seen as key indicators of a person’s true feelings. So, if one is mindful of these differences, it is likely to have a greater chance of sealing the deal. There are several strategies in approaching negotiation but I believe is of the essence is to be prepared to know the absolute bottom line of what you are willing to settle for and beyond which you will walk