Negotiation Paper

1125 Words Nov 2nd, 2014 5 Pages
CONTRACT AND PROCUREMENT MANAGEMENT
Generally, negotiation takes place when two or more parties come together in order to have a mutually agreeable contractual decision against the competing interest. Each and every individual have to take part into negotiation in his/her life whether it is personal or organizational. The need of negotiation is based on different purposes. A person may have to negotiate in businesses for different reasons that may be increase in salary, work schedule or promotion or position in the company, expansion of business, purchase or sale of goods or services etc. On the other hand, one can also have to enter into negotiation either to purchase land, home, computers, cars or other appliances, for personal use
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Gupta to have a face to face negotiation. Mostly, we had a negotiation on the price, land, environment, its potentiality, terms and conditions, payment schedule etc. At this point of negotiation, we came to a point where we both parties were not able to come to a point and couldn’t agree with each other. The situation was that Mr. Gupta asked us $ 50,000 thousand more for 22,000 square feet land, where our deal was trying to be fixed with total amount of $ 350,000. We both feel that price was more as it amounts to total of $ 400,000 dollar, even though we liked the property. I and my wife tried to negotiate the price but Mr. Gupta was not ready for the price that we had offered him. This was a LOSS/LOSS situation. According to the buyer’s point of view, the property was evaluated on different criteria i.e. qualitative aspect, area, natural view, location, and tourists flow, however, on the quantitative aspect, the price and cost cannot meet our requirements because we both felt that it was little expensive. Mr. Gupta was little more arrogant in his nature and don’t want to come down even a penny. He tried to negotiate in such manner that there are other buyers too who can purchase the property on his stated price. The land was his personal property so he had increased the price that was too high and we felt that price is not right price on based of our research and experience of our business. So, the discussion took more in high low tone

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