Summary:
In Energetics meets Generex negotiation, I was acting as a Chief Operating Officer (COO) for Energetics Corporation and my opponent and my classmate Chace Eskam was acting as a COO of Generex Corporation. In this deal, as a COO I was supposed to sell the Wind energy division of the Energetics to Generex. Energetics Corporation was in desperate need of cash due to bankruptcy. Another hurdle was that I could not sell three different locations of Wind plants individually. My company needed cash within three months with no additional terms added to this deal. My another best alternative was to sell all the assets of Wind Energy division to generate some cash if deal with Generex fails in this negotiation. Our negotiation went on for 15-20 minutes during class time and deal was set in $247 millions. My opponent Chace was very tough in this negotiation to deal. He was very prepared with facts and numbers before he came to the table. My opponent asked me lot questions such as the depreciation of the property, equipment’s life, taxes etc. After having lot of discussion we ultimately came to the conclusion that Generex will pay Energetics $247 million right away in cash to purchase Wind Energy division from Energetics.
Analysis:
A skilled negotiator spends enough amount of time in preparation and planning. In the preparation and planning of this negotiation I gathered all the positive points to my advantage and planned how to put them in a sequence so that my opponent could
1. How did you plan for the negotiation? Explain how you decided on a strategy?
The experts from the reading also mentioned the importance of research and planning beforehand, which I could not agree on more. Their statement is definitely in sync with the textbook too, of how planning for a negotiation session prepares us in facing unexpected stress during negotiation and how to overcome them. It is crucially important to plan the negotiation objectives and know what your goals to achieve are. It is also recommended to pay attention to details, such as finding a good time and place that sustains a good professional negotiation environment.
Being successful at negotiating requires one to consider the various styles: win-win, win-lose, lose-win, lose-lose, no deal and compromise negotiation. Each is unique in its outcome and business associates must consider their end goal of the negotiation and when each style of negotiation is
My greatest strengths of these negotiations were my ability to ease tensions in the room, when necessary, and the level of preparation I had done. I was very confident on the issues I was responsible for which allowed me to talk on the matters as much as possible. Also, due to this level of preparation, especially doing the additional readings, I could help my other team members on their issues. The additional readings were quintessential in helping our team develop our strategic approach and got us out of a couple of very tight
I believe work experience provides many benefits and being promoted to a Managerial role gives me skills and experience that will allow me to stand out to potential employers as well, defining my learning potential when I pursue higher education. Currently as an Operations Manager at a hospital I manage the day to day operations of the nursing division from staffing, to budgeting, and finding effective way to assist with the patient experience while managing over 40 employees maintaining great satisfaction. With my experience I decided I would like to pursue a Master’s in Business Administration (MBA) degree to solidify my ultimate goal of being a Chief Operation Officer. With over 9 years of experience in operations and 3 ½ years of managerial
At some point in time in your lifetime, you have been a negotiator, whether you knew it or not. As a child you might have negotiated your bedtime with your parents or worked out an allowance for doing chores around the house. When you became a teenager, maybe you purchased a new or used vehicle and negotiated a price to purchase it. As an adult, you might have had to negotiate a salary for a job that you worked at. As an Airman, at some point, you will have to negotiate project deadlines and negotiate in complex and diverse environments.
Negotiation is an effective tool for an individual in pursuing a better agreement from an opponent. I intend to use this skill in securing
Negotiators rarely achieve an efficient agreement mainly because one party is being too aggressive or conservative, not knowing enough about the other party, and being more skilled. The first reason mentioned reflects the mentality that a party approaches the negotiations. If one party is being too aggressive on his offers and does not acknowledge his counter-party’s needs, it will be hard for both parties to achieve a profitable agreement. On the other hand, if a party is too conservative and is ready to accept any offer in desperation to conclude a deal, it will also cause repercussion. The second reason mentioned illustrates the preparation before the negotiations. Both parties need to inform themselves on their counter-parties and build
From the commencement of the film, negotiating has always been the main goal. Hence, the film “The Negotiator”. From the first few minutes of the film, the lead character Danny Norman is using his negotiating tactics to prevent a man from raping a young woman. Strategic planning is always a must in negotiation, and this is shown throughout the entire film.
The book starts with identifying the problem associated with negotiation. The authors emphasize that the major challenge associated with negotiations is that people take positions, bargain over their opening position and then make small concessions to reach to a new position. Even if one of the participants decides to take a soft position in the negotiation, it does not result in an effective negotiation as the one who takes the hard position dominates the soft player. The authors have clearly highlighted that for a negotiation to be effective it should produce a wise agreement, be efficient and should not damage the existing relationship. A positional
Why do Chief Executive Officers (CEO) worry so much about a stakeholder, whom they are not directly responsible for at all? Businesses are trying to please everyone, though they are already responsible to employees, Board of Directors, and company shareholders. CEOs are trying to appease interest groups and other outside stakeholders when considering the company’s business deals. Some organizations have been successful with corporate social responsibility (CSR), while others have failed. To what degree should the federal government be involved with CSR? Companies create jobs; keep unemployment rates low, and invest in their communities purchasing from local vendors, however, stakeholders and local governments do not feel these acts are not enough to meet their social responsibility. By mandating companies invest in corporate social responsibility causes conflict between shareholders and stakeholders. Companies must be accountable when their actions adversely affect society. While shareholders provide investment funding to corporations, according to Robert C. Hinkley (2002) corporations cannot make profit at the expense of human rights, the environment, public safety, or employee dignity. By creating a balance between investor responsibility and social responsibility will prove profitable for the corporations and stakeholders.
This book is about negotiations and is based on the Harvard Negotiation Project. This is written in APA format.
Chief Information Officer (CIO) or Information Technology (IT) Director, is a job title commonly given to the most senior executives responsible for the information technology and computer systems that support enterprise goals. Generally, the CIO reports to the chief executive officer, chief operating officer or chief financial officer. To succeed today, the CIO needs a very unique skill set. Being a CTO requires public speaking and leadership skills, and well-grounded in technology.
The role of business in society is multifaceted in that there is an obligation to its shareholders, its clients and its employees. In the instance of Margin Call by J.C Chandor, a wide range of justifications revealed by the upper management level of an investment firm evinces the core values of the firm. Once it is revealed that there is a high probability of the firm being the devalued beyond market capitalization, the firm and its division heads attempt to find a solution to the imminent crisis. Although there is some dissent from Sam Rogers, Head of Sales and Trading, CEO Tuld promptly decides to liquidate the firm’s toxic assets onto the market. However, there is much internal tension between the chief officers in that they individually represent different predicaments. In the end, Margin Call illustrates conviction that the role of business is to engender a certain type of lifestyle for the society through the executives’ justifications and interactions with others.
At this stage negotiators stop focusing on their opponent’s needs and priorities and state their own needs and priorities. It is about creating value for your side and asking for the value that you want in exchange. It is the most highly competitive stage of negotiation. Arguments often take place about the value of items on either side of the equation and whether sufficient value is being offered from the opposing side in exchange. It is important that these arguments are handled even handedly even when negative tactics such as threats are used to move one or the other side to action (Craver, 2004).