Successful Negotiation Step By Step - Coursework Example

Negotiation Step By Step Name: Institution: TABLE OF CONTENTS Negotiation Step By Step 3 1.0 Introduction 3 2.0: Steps in Negotiation 3 2.1 Step One: The Beginning 3 2.1.1 Planning and Research. 3 2.1.2 The BATNA 4 2.1.3. Exchange and Refining of Goals. 5 2.2. Step Two: The Middle 6 2.2.1 The process of Bargaining. 6 2.2.2 The Steps Moving Towards Closure. 7 2.3 Step Three: The Final Stage 7 Conclusion 8 References 9 Negotiation Step By Step 1.0 Introduction In handling this negotiation process with the Four Season’s Hotel, there are certain things that will be considered. At the core of negotiation, it is fundamental that the parties are placed in a position whereby they evaluate whether they need to compete or corporate with one another (Laubach2012). As this is a relationship that involves our company offering cleaning services to another and expecting payment, the best approach chosen is the corporative one. After this, we will decide on whether the parties will analyze both the common and conflicting goals that help come up with what they jointly consider possible and desirable. However much both parties may need the competitive element against others in the market hence requiring a certain degree of advancements in interests, we will identify a balance which is the main dilemma. The most appropriate process for the negotiation process by our cleaning company is as elaborated below. 2.0: Steps in Negotiation 2.1 Step One: The Beginning 2.1.1 Planning and Research. It is important that before the negotiation process commences, our company carries out all the necessary planning and research. In this case it means that the company will seek the advice of an expert so that the other party is made aware of the requirements and conditions of the services. In addition, as we are seeking employment, it is important that we learn all the schedules, meals and workings of the hotel. At the same time, the four season’s manager may find it useful if we five them reviews from other areas that the cleaning service has worked. This helps both the parties to familiarize themselves with each other hence assessing the needs of each other. Further, it is at this level that our cleaning company will need to do evaluations so as to know the price of our services per person and as a whole, in relation to the number of shifts. 2.1.2 The BATNA Initial Interaction and the formulation of the “Best Alternative to a Negotiated Agreement” (BATNA) is the second step. This is yet another important step that will identify alternatives in terms of what will happen if our cleaning company and the Four Seasons do not agree in the negotiation. As it is possible that any time both these parties might walk away from the negotiation, it is good to have a way forward (Laubach 2012). For instance in this case, it is important that our company ensures that there is an even playing field with the hotel. The steps will therefore include the following. i. Definition of our intent clearly. Our company will be interested in knowing what services we should provide, the shifts, the payments whether it is individual or as a company and whether we bring our own towels or cleaning equipment. It is important that we also add incentives such as offering services outside our scope as an added and marketing advantage. After all these, the two parties should look at whether they have the same goals and whether they intend to maximize in the long term or whether they intend to cash out after some time ii. It is important that our company takes part in the brainstorming on ideas. This is so that both the parties settle for a decision that is profitable. In this case, the more the options, the greater the chances of having a good BATNA in case any issue arises iii. It is good for our company and the Four Seasons to encourage the identification of a secure contingency position and commitment. Our company can support any solution that involves the raising of a certain amount of money or any other alternative as a fallback position. This means that despite the fact that our cleaning company wishes to work with Four Seasons does not mean that they cannot contract with others as well and vice versa. iv. It is important that in getting into a negotiation agreement, both parties are not placed in a position of undue advantage. The shareholders and those supporting our company for instance must therefore ensure that they are backing the decision fully so that negotiations are aligned with the expectations. 2.1.3. Exchange and Refining of Goals. The third step is the Exchange and Refining of information to establish Goals. The two parties are given an opportunity to ask open ended questions, to respond to the questions and make both closed and open ended demands at this stage. Here, our company must be already aware of the trigger points that will enable the negotiation to run smoothly and as expected, they can strategize to suit the whole process. In this process therefore, our company will be able to use effective communication, Friendliness, helpfulness, coordination in effort and task achievement as the common expectations of the service. As well, the hotel should be willing to create a good working environment that allows the cleaning company to work and also recognize the legitimacy of each other's interests. In addition, it is at this stage that the cleaning company brings the issue that our company requires payment per person depending on whether the shift is during the morning, the afternoon or the evening. 2.2. Step Two: The Middle 2.2.1 The process of Bargaining. Once the foundation of the negotiation process has been established and the goals on the way forward set, our cleaning company and Four Seasons will enter into the middle stage of the process. Here, the two parties are now addressing the issues earlier agreed upon in specificity or rather, to a much deeper level (Laubach 2012). This gap that connects the beginning stage to the final one is only closed when both parties manage the concessions or after they have come up with value creating plans. Firstly, the cleaning company will once again establish a price that they find best suited for their services. At this stage, the Four Seasons hotel will raise their concerns and suggest whether they would prefer to pay the amount or vary it. As it is the bargaining stage, our company will avoid making compromises because if in this case for instance the cleaning company compromises a lot, the message that people get is one of desperation or an aversion. Other considerations to take account of are that concessions should be made only as required, as well as, slowly and reluctantly. This is because when our cleaning company is handling the beginning stage, it has already developed a perception, goal and the expectations. This means that concessions being made should in no way interfere with the shaping of this ideology or strategy throughout the negotiation process. Similarly, our cleaning company can state that they may require some assistance in terms of the equipment or supplies in other areas and having established this, they should avoid any concession that waves the agreement (Laubach 2012). Contrary to the above, in other cases, it is also good to make concessions as a sign of flexibility but it is important that one party is not the only one continuously making concessions. This means that our cleaning company may insist on using their equipment and supplies and ask for the Four Seasons to ensure punctuality of all operations in the hotel. Our cleaning company generally therefore needs to get something in return such that, if a certain amount has been agreed upon and in certain situations it has to vary due to exchange rates, failures of the management and practices, it may be allowed. 2.2.2 The Steps Moving Towards Closure. Once the bargain process is completed, our cleaning company needs to take two things in to consideration. One is that the agreement gives both parties a role and the need to show commitment (Laubach 2012). This is in reference to terms of power that clearly points out each side of the negotiation, the desires of the parties and the powers of the negotiating opponents. Secondly, the other important aspect as the process heads towards closure is the creation and identification of deadlines and final offers. The Deadlines and Final offers should then be set. In most cases, Negotiations often continue until time runs. Here all the concessions and compromises will be offered and criticized for approval or otherwise 2.3 Step Three: The Final Stage After all the negotiation process between our cleaning company and the Four Seasons is complete and settled, the negotiator might need to structure a settlement most suitable to incorporate the needs of both parties. In addition, there is need for ratification where our company and the Four Seasons will execute the relevant documents with witnesses present. To ensure that the relationship starts at a good note, it is important that our company ensures that the Four Seasons feel as content and comfortable with the deal as we do. Lastly, the actual agreement should be drafted by a qualified person to incorporate all our agreements. Sat this point, other remedies for defaulting can be included in the agreement such as the offering of an apology, resolving of minor manners and splitting the differences Conclusion Once the negotiation process is completed, the relationship between our company and the Four Seasons begins. This means that the parties now rely on the law and ratified statutory basis so that they are certain that the deal will favor both of them. By this stage, our company has agreed on the salary, the shifts and hours, and other benefits that they may get in working in the specified areas. In the same case, the Four Seasons as our employers will require due diligence, punctuality and reliability in our services to them. The negotiation process is therefore complete once all these things are ascertained. References Laubach, C. L. (2012). Mastering the negotiation process: A practical guide for the healthcare executive. Chicago: Health Administration Press. Read More