Essay on Federated Science Fund Negotiation

1104 Words Mar 1st, 2013 5 Pages
Session 8
Federated Science Fund
Role: Stockman
Stockman: $220,000
Turbo: $190,000
United: $70,000

Summary: This was a multiparty negotiation, which involved 6 players all with very different negotiation styles. It was an exercise in which teams easily form a coalition. There were concessions about the value added each team would bring to the “table”, and my team in a situation of power saw how negatively the other teams reacted in name of fairness and how important was to share the pie.

During this exercise there was a 3-stage process: individual assessment, team’s assessment and negotiation.

1) During my individual assessment: I did a thorough analysis of what I believed it was Stockman’s fair value. My reservation
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Turbo felt berated and betrayed, based on the equity theory they did not accepted and demanded for more.
- I learn a big lesson, never radically change negotiation positions. Doing such a radical change underestimates the seriousness of your previous arguments and injures radically your position. One should take the time to negotiate and not feel compelled to do quick decisions. In this particular exercise I should have listened more. I got exposed for trying to control and leverage my position of power. Nevertheless, I managed to do a deal still within my initial reservation price.

What would I like to do different?
- My Stockman partner was sitting on the bench next to United I guess that made me feel in a certain point of the negotiation isolated. Adding to that, I was the only one in the negotiation with calculations and without my phone to add up and do the recalculation of the values on the spot.
- I would mirror the behavior of my colleagues next time, if no one shares calculation sheets I will not show any that I have made. Next time, I will push myself more to be more spontaneous and try to use more persuasive arguments than analytical calculations during the negotiation.
- Next time I will listen more and try to understand what is considered as “fairness”, for instance United just being part of the deal might have been fair per se. I lost a good opportunity to stay only with my first

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