living negotiation in hotel rates
• You should articulate a strategy beforehand.
• You must be willing to actually go through with the negotiation if terms favorable to you are reached. Do not start a negotiation if you have no intention of ever coming to an agreement.
Your task in this paper is to describe your reactions, perceptions, impressions, or significant insights gained from participation in and reflection on the negotiation. You will not be evaluated based on the success of your negotiation outcome. Rather, you are evaluated on how well you planned the negotiation (using course material and serious thoughtfulness) and how well you analyze what happened. Good papers do more than just recount what happened. They will also discuss preparation and strategy and will critically analyze what happened and why. Include all relevant and appropriate strategic elements of the negotiation (positions, interests, BATNAs, targets, reservation price).
Position: rank the importance of each issue
Interests: not just focus on negotiate number(price) focus on what they are interested in, why something is important to you or them.(needs, beliefs,and value underneath positions)
Target: your target price with additional condition
Reservation price: s the highest price a buyer is willing to pay for goods or a service; or; the smallest price at which a seller is willing to sell a good or service.(also with additional condition)
Paper structure
A typical paper should include:
• A description of what happened and the outcome of the negotiation (I recommend not more than 2 pages on this
• A description of the planning and preparation that took place
• An analysis of the negotiation, applying course concepts to assess what happened (this is the most important part of the paper)
• Self-reflection. What could have been done differently, if anything? What have you learned about your negotiation style, strengths, and weaknesses from this experience? As above, this should draw on and integrate your learning from this course.(for example: This course training us negotiation with our classmates in a specific case every week and then go home to read the course textbook, it helps us find out the problem and implement the new concept in negotiation next time)
• Please also include a table at the end of the document, summarizing the other parties opening position (e.g., asking price, initial offer, etc.), the final resolution, and the difference (if any) between the two positions (this represents the value gained, if any, from the negotiation) It might look something like the following 2 examples: