BUSI 545 Negotiations - Day 2 Review

BUSI 545: Negotiations - Day 2 Notes

Overview of Negotiations and Day 2 Agenda

• Review of Previous Concepts (Day 1):

  • Single-Issue Negotiations: Covered using cases like Red Novo and Coffee Contract, focusing on aspirations, reservations, BATNAs (Best Alternative to a Negotiated Agreement), first offers, and anchoring effects.

  • Multi-Issue Negotiations: Covered using the New Recruit case, distinguishing between positions (what people say they want) and interests (why they want it), and aiming for integrative solutions.

  • Yesterday's slides are available on Canvas.

• Today's Focus (Day 2):

  • Two central negotiations: Dispute Resolution (Viking Investments) and Recurring Negotiation (Outside Offer).

  • Discussion on Job Offers and the initiation of the Preparation Worksheet for a Real-World Negotiation assignment.

Vacation Plans Exercise Review

• Exercise Details: 5 minutes for preparation, 20 minutes for negotiation.

• Key Questions & Learnings:

  • Total Points Possible: 1,600

  • Easier than New Recruit? This exercise was generally perceived as easier than the