COMMERCE 4OD3 Lecture Notes - Lecture 9: Conflict Resolution, The Negotiation, Reverse Auction

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Each party: has different viewpoint, has different objectives. Negotiation: a process (of planning, reviewing, and analyzing) used by a buyer and a seller to reach acceptable agreements or compromise, these agreements and compromises include all aspects of the business agreement, not just price. Improve current offer (issue: price, delivery, currency, warranty, bring clarity, conflict resolution and build peace. In most successful business negotiations, both sides win something. Win-win situation winnings may not be equally divided! If the deal fails, what next best alternative do you have. Select your batna, and anticipate other party"s batna. It is defined as the most advantageous alternative that a negotiating party can take if negotiations fail and an agreement cannot be made. Importance of batna: batna is often used in negotiation tactics and should always be considered before a negotiation take place. Therefore, it is never wise to enter into a serious negotiation without knowing your.

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