October 11-15
Dear students, for this weekly forum we will discuss about: NEGOTIATION
You must answer one or both questions with a response of at least 200 words and using at least one reference in APA style.
A) From all the stages of negotiation, which ones do you consider can be more challenging and why?
B) Why do you think a good product can fail in the negotiation process? Provide a clear example
Remember that our deadline is Friday, October 15th before 11:59 pm. :)
PUT YOUR NAME AND LAST NAME IN YOUR ANSWER.
Best regards!
Pamela Barrera Goyri Collaborating
ResponderBorrarNegotiators that exhibit this style are often honest and communicative. They focus on finding novel and creative solutions that fully satisfy the concerns and suggest many ideas for consideration before deciding. These negotiators tend to value taking the time to create optimal long-term outcomes over efficiency and leaving value on the table.
All styles serve, and each has advantages and risks. And sometimes one style may be more useful in certain situations than in others. For example,The Coca-Cola Company and furniture maker Emeco have established a smart collaboration to manufacture the Emeco 111 Navy Chair, a chair made of 111 recycled bottles. Emeco has estimated that it will process more than three million PET bottles.
In order to be the most effective negotiator, one must recognize one’s own tendency, assess as best as possible their counterpart’s style, and adjust their own to allow for smoother negotiations.
In general, if negotiators strive for using a collaborative style, they incorporate the relationship focus of an accommodating style, the assertiveness on own needs of a competitive style, the caution and observational skills of the avoiding style, and value maximization often neglected by the compromising style. While the collaborative style may not make sense in all negotiations, this mode can be especially effective with business situations because of the long-term nature of the relationships internally and externally, as well as the need for strong substantive negotiation outcomes.
https://trainingindustry.com/articles/leadership/understanding-negotiating-styles/
Samantha Razu
ResponderBorrarSometimes, even when the product it’s so good, the deal doesn’t close because of the terrible negotiation that went through. When negotiating, you have to know the technique and way you are going to present every argument that you have to sell that product and close the deal you are looking for. Presenting your product and forming a connection with your investor is very important to close a deal in the best conditions possible, also, knowing all the data you need about your product or service is a very important factor, this makes the investor know that you are well prepared and can be trusted. A clear example of how this negotiation process can fail even with a good product is the Ring doorbell. This product made its first appearance on shark tank, but during the negotiation a deal wasn’t made, no investor really formed that necessary connection and weren’t convinced about the idea. Nowadays, Amazon bought Ring for $839 million dollars and it’s one of the best selling doorbells ever, this proves that even if a product it’s really good and can have success, if you can’t sell that product and have a proper negotiation technique the product won’t be sold to the investors.
Reference:
Denhart, A. October 16. 2020.
https://www.realityblurred.com/realitytv/2020/10/shark-tank-ring-doorbot-worst-product-ever/
Jose Luis Carrillo
ResponderBorrarRead signs: I consider it is one of the most difficult because you have to know how to distinguish the signs to whom we are presenting the product, for example if they turn to the other side it is very possible that we are losing their attention, and it is normal that some people are not used to distinguish these types of signals that is why I think this step is one of the most complicated because while you are publicizing your product you have to seek to entertain those involved, and if you realize that they turn, or are distracted by some type of signal, we have to capture them again when we ask if they understand or have any questions. And in this way to capture the attention again. It make it complicated, since it is complex to expose or sell your product making sure that they are not getting bored and that the product is attracting their attention.
A good clear product that can end in a bad negotiation, either because it did not attract the attention of investors, it did not give important points such as exact numbers, neither of the two parties agreed.
An example is Blockbuster, he was approached by a visionary giving him the idea that instead of the films being rented in physical form that they will be rented digitally, send them by mail. And for some reason Blockbuster did not accept, either because they had a bad idea or because they believed that no one. Years later this company would be known as Netflix, it is a clear example that a good product can fail in negotiations
https://retos-operaciones-logistica.eae.es/empresas-comerciales-ejemplos-de-errores-y-escandalos/
Itzel Kumul
ResponderBorrarI think the hardest negotiations styles are compromising and collaborating because they require a lot of communication, patience, honesty, and values that sometimes people in the business world lack of, if the wrong person is put in charge of using this kind of negotiation it can cause a big difficulty for both parties to reach an agreement, sometimes that’s why negotiations fail, even if a product is really good and can be profitable sometimes during the negotiation process the parties involved have trouble communicating and let go of the possibility of making money with the product, these kind of problems happen when one or both of the parties are too interested in the benefit they will receive of the outcome and don’t take into account the needs of the other party, finding a way where all people involved receive what they want is the hardest part of negotiation and that’s what compromising and collaborating are all about, that is the main reason why companies sometimes opt to use other negotiation styles that involve just looking for what one of the parties wants and creating a win-lose situation, it’s easier for most people but it’s not the best option.
“Yong A. May 21, 2018. The Smart Manager, Why do negotiations fail?, recovered from http://www.thesmartmanager.com/why-do-negotiations-fail/”
Mariette Colli
ResponderBorrarI believe that preparation and proposals are the most challenging stages, since it requires to the team to do deep research of what are the interests of the second party, although for some can be very obvious sometimes we based on what we think they need or want, pouring the most exciting and attractive part for the second party, which is what will they get in exchange, this aspect must be very good analyzed and should be attractive to consider, otherwise the probability of a failed negotiation rises, we must be very careful and assertive on reaching out their needs to prepare a negotiation that can fulfill their interests without affecting ours as a win-win. I also think these are challenging stages because sometimes we don’t take the time as we suppose to, rushing to create our presentation will not ensure any good response at all, as said before, we need to be very careful, observative and good prepare in every little aspect since a unknown answer can bring down the whole negotiation, as any investor cannot gain trust of giving their money to someone who does not have clear about what they will do with it, even if you considered as a small unforeseen it does have a huge repercussion in the final answer.
References
Challenges for an Effective Negotiation. (2015). Retrieved October 14, 2021, from Managementstudyguide.com website: https://www.managementstudyguide.com/negotiation-challenges.htm
Shonk, K. (2021, September 27). difficult negotiations. Retrieved October 14, 2021, from PON - Program on Negotiation at Harvard Law School website: https://www.pon.harvard.edu/tag/difficult-negotiations/
Este comentario ha sido eliminado por el autor.
ResponderBorrarVictor Arjona
ResponderBorrarIn my opinion, the most difficult thing is competing and compromising, because it means showing experience, self-confidence and getting along with others, etc. However, they can focus more on product sales rather than relationships with people. Now, the seller can take an aggressive attitude towards the buyer, try to persuade him, and go wrong with the expected result.
Now it is slightly changed to the point of compromise. Sellers must be honest and communicate, but in many cases, they lied in some way to let the buyer finally buy it instead of looking for a solution to any problems that may arise during communication to maintain customers are calmer. So this style is highly confident and cooperative, taking relationships as people's consensus, and looking for a way to create the best long-term results before efficiency and leave value on the table.
All in all, negotiators strive to use a collaborative style, they combine a complacency style relationship approach, self-confidence in their own needs in a competitive style, and style compromise often neglects value maximization. Although the collaborative approach may not be suitable for all negotiations, this model is particularly effective in business situations due to the long-term nature of internal and external relationships and the need for robust and substantial negotiation results.
References:
Training Industry, Inc. (2021, June 8). Understanding Negotiating Styles. Training Industry. Retrieved October 15, 2021, from https://trainingindustry.com/articles/leadership/understanding-negotiating-styles/
Angélica Zavala García 2°A
ResponderBorrarB) Why do you think a good product can fail in the negotiation process? Provide a clear example:
I think a good product can fail in the negotiation process for three main reasons: walking away from a good deal, making a deal we´ll regret later and negotiate a deal too weak to last.
We walk away from a good deal - Whenever we are going to make a deal, we need to make sure we are going to be comfortable to turn to our best alternative to a negotiated agreement or BATNA, in case of a disagreement in the demands. When your BATNA is worse or going to be worse than the deal on the table, we should make the most rational and safe choice, even if it means walking away from the good deal, before strong emotions and overconfidence overcome us and we reach an impasse. We make a deal that we later regret - The downside to rejecting a deal that´s better that your BATNA is accepting a worse one. Since sometimes we are unaware of what´s left on the table, wise business negotiators analyze all the risks that a deal can have thoroughly. We negotiate a deal that’s too weak to last - Some deals fall apart quickly in the implementation phase due to conflict during negotiations or lack of a good structure. That´s why the best negotiators try to build trust in the process of negotiating.
A good example of a product that failed in the negotiation process is Blockbuster´s partnership with Reed Hastings, founder of Netflix. In 2000, Hastings flew to Dallas to propose a partnership to Blockbuster´s CEO John Antioco and his team, which was an online brand with the same function. The online brand promotes the store and vice versa, but Hasting was laughed out of the room. If only the Blockbuster´s team has listened to Hastings full idea the company wouldn´t of gone into bankrupt in 2010, and Antioco wouldn´t be considered a fool. Now Netflix is a $28 billion dollar company, about ten times what Blockbuster was worth.
References
Shonk, K. (2021, September 9). Why Negotiations Fail. PON - Program on Negotiation at Harvard Law School. Retrieved October 15, 2021, from https://www.pon.harvard.edu/daily/negotiation-skills-daily/why-negotiations-fail/
Satell, G. (2014, September 21). A Look Back at Why Blockbuster Really Failed and Why It Didn’t Have To. Forbes. Retrieved October 15, 2021, from https://www.forbes.com/sites/gregsatell/2014/09/05/a-look-back-at-why-blockbuster-really-failed-and-why-it-didnt-have-to/?sh=13b013db1d64
Sergio Hernández Melby 2B
ResponderBorrarThere might be a lot of reasons why a negotiation can fail and I am going to mention some of the, the first one is Ego, there is a possibility that you overrated your deal or you don’t want to resign to anything so the negotiation fails, but we have in the other hand were you lack of pride, and you might think your deal is garbage so consequently the negotiation fails. The fear is also an important aspect, you can be afraid of a risky deal but that is going to give you excellent results, or also you can be afraid that the negotiation just goes wrong, you must be self-confident and trust in your deal. Show a lot of emotions can also interfere or the opposite being to rigid, they are not cutting a deal with a machine, they are cutting a deal with a human that might show disgust or happiness, buy it is a human with emotional intelligence that can control its emotions, just to show the necessary and not overreacting to things, each of these aspects can actually interfere in the way, the person you are negotiating with sees you, and obviously this will interfere in the deal, you don’t cut a deal with someone you distrust or you simply don’t like.
Schachter, H. (November 13th 2017). The Global and Mail. Gotten from https://www.theglobeandmail.com/report-on-business/careers/management/six-main-reasons-why-negotiations-fail/article36920723/
Angel Adrian Gallardo Rodriguez
ResponderBorrarWithin all the stages of the negotiation I consider that the preparation and the agreements are the most difficult and important part within it, mainly the preparation largely defines how the negotiation will end up becoming since an incomplete preparation will lead to failure given that you will not be able to have bases on which to support you in the rest of the negotiation, and in the case of agreements I personally find it challenging when trying to find that point in which the 2 parties get what they want without losing much in return Normally as humans we tend to try to get better deals than we have even if they are fair or we already have a significant advantage, for this same behavior that we have I consider that it is somewhat difficult to achieve that the 2 parties are comfortably reaching an agreement .
Even the most revolutionary product in the world can fail because in order for it to reach the world, it must first go through a series of negotiations that will allow it to make itself known and become in the sights of people, a perfect example for this. They are hydrogen-based electrolysis engines, since in every aspect it is superior to today's fossil fuel-based combustion engines, but even so, he never managed to establish a starting point since the owner of the patent never managed to establish agreements with investors since pressure from the competition as well as inexperience in business on the part of its inventor caused a great stir among companies and investors.
ESAN Graduate School of Business. (s. f.). La importancia de prepararnos para afrontar una negociación. Administración | Apuntes empresariales | ESAN. Recuperado 15 de octubre de 2021, de https://www.esan.edu.pe/apuntes-empresariales/2016/10/la-importancia-de-prepararnos-para-afrontar-una-negociacion/#:%7E:text=La%20preparaci%C3%B3n%20es%20el%20paso,que%20los%20resultados%20ser%C3%A1n%20adversos.&text=%22Un%20negociador%20cultiva%20sus%20cualidades,proceso%20de%20negociaci%C3%B3n%22%2C%20refiere.
It is very important to create the perfect standards in the elaboration of products, one of the most important factors is the negotiation, this can be involved in different topics. such as, distribution points, business alliances, sale and price parameters, etc. These negotiations are important so that a good product can be placed correctly on the market. I consider that one of the factors in which companies tend to fail when setting a price to the merchant, they tend to value their product above what it really deserves, since sellers do not usually see the situation objectively, one of the better examples of this can be seen in shark tank
ResponderBorrarDianela Rosado. 2*A
ResponderBorrarA) From all the stages of negotiation, which ones do you consider can be more challenging and why?
The discussion, of course. According to Will Kenton: “ A negotiation is a strategic discussion that resolves an issue in a way that both parties find acceptable. In a negotiation, each party tries to persuade the other to agree with his or her point of view. By negotiating, all involved parties try to avoid arguing but agree to reach some form of compromise”.
The discussion and arguments change style and format depending on the client or person to whom it is addressed, of course, you can not present to all customers or counterparties the same strategy or format exposed to present the problem, the discussion must be adapted to the subject, objective and interest of the other party. Each person is difficult to persuade, mainly because they have clearly different interests, objectives and brands, we seek to offer and present arguments based on what you want to negotiate and what the other person needs to obtain, of course, constantly this stage changes, evolves and in some way or another, covers the needs of whoever is in the negotiation, therefore, we must know that not everyone wants to cover or be covered by the same thing. Besides, every day, new ways of arguing, new information, new goods, etc, are renewed and evolve to fit in our agilely changing life, that is why the discussion, its style and format are renewed, because we always need to convince from different perspectives and with different tactics to different people in different times.
References: How Negotiations Work. (2020, 11 noviembre). Investopedia. https://www.investopedia.com/terms/n/negotiation.asp