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The main idea of negotiation is that is a process through which an agreement or a compromise is attained while at the same time an argument is avoided. Similar to every other negotiation case, the biopharm- seltek negotiation involves a disagreement on the matter of selling the…
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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 negotiatin 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 on the setlek 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 affect his negotiation is the idea that if he is navle to sell the company to Biopharm within this year, the selling value for the company would decline rapidly and Setlek would have to face great loss. By selling the company at $7 million at this year, Setlek would then have to focus its attention on selling the Petrochek patent, to Biopharm as well. So the fact that Setlek needs to sell not only the plant but also the Petrochek 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 are majorly interested in the patent to pay $5 or more for it. If biopharm agrees to buy the plant for $7 million and the patent for $4 million, Setlek 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. In this case, since the company has bought the company for $12 million and now is negotiating selling it at $7 million final shows that the company needs an immediate advantage so that it can establish on its current strategy. The context of the current negotiating case is in fact not that ...Download file to see next pagesRead More
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