I have an assignment which is:
To prepare for your “role” (buyer vs. seller), you will need to read the confidential information about your role. The confidential information will be emailed to the buyers and sellers separately. Do NOT share this background information with your negotiating partner. It will ruin the fun of the exercise, and you won’t get nearly as much out of it.
Planning Document: This is an individual assignment. Please read your role confidential information, prepare for a planning document, save as a PDF file, and submit through Canvas. The planning document must be completed before you conduct the mock negotiation with your partner.
Your Planning Document should cover, but not limited to, the following:
(1) Issues to be negotiated;
(2) Your position and interests on each of the negotiation issues;
(3) The priority of each of negotiation issues;
(4) Your BATNA and Reservation Point;
(5) Your Target Point;
(6) Your sources of power and negotiation strategies;
(7) Your best estimate of your negotiation opponent’s position, interests, BATNA, reservation point etc.
Please be advised that the format of the planning document is flexible; it’s for your use to get a better negotiation outcome.
The case material in attachment
Answer preview
As the negotiation representative for Seltek, my main objectives are to sell the US plant to BioPharm at its value. Another objective is to negotiate for the sale of the Petrocheck patent for at least $4 million as this would secure Seltek the liability of paying the employee the severance pay of $1 million which was promised to the employees if the plant would be closed down.
(765words)