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The Main Idea of Negotiation - Case Study Example

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The paper “The Main Idea of Negotiation” seeks to evaluate a process through which an agreement or a compromise is attained while at the same time an argument is avoided. The biopharma- sleek negotiation involves a disagreement on the matter of selling the Seltek pharmaceutical company to Biopharm…
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The Main Idea of Negotiation
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Download file to see previous pages In the negotiations, it is vital that the three elements including knowledge, interpersonal skills, and attitude are present in the negotiating parties because this tends to affect the ultimate end result of the cooperation. In this case, the main part in negotiation form the Setlek company was played by the Chief financial officer of the pharmaceutical company. The CFO controlled the entire negotiation by using knowledge as power. Majority of the points that arose in the negotiation were on the side of the seek company. The CFO had solid points that made it easier for him to control the negotiation. For the CFO of Setek company, the major factor that affects his negotiation is the idea that if he is unable to sell the company to Biopharm within this year, the selling value for the company would decline rapidly and Seek would have to face great loss. By selling the company at $7 million at this year, Seek would then have to focus its attention on selling the Petrock patent, to Biopharm as well. So the fact that Setlek needs to sell not only the plant but also the Petrock patent forces the CFO to take each step carefully. The probability of selling the patent to Elfand Exxon is very low since neither of the two companies is majorly interested in the patent to pay $5 or more for it. If biopharma agrees to buy the plant for $7 million and the patent for $4 million, Seek would have sufficient money to divert its attention to developing in the conventional pharmaceuticals. It is thus vital that any negotiating team pay great attention to the factor that brings an advantage to the company not only in the long run but also an advantage at the present.  ...Download file to see next pagesRead More
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