Posts

Week 13

 1.) The agency problem happens when a principal hires an agent to work on their behalf, but the agent also has their own personal interests and goals. Because of this, the agent may make decisions that benefit themselves instead of fully benefiting the principal. This might create conflict involving things like money, trust, and decision-making. An agent might take a deal on behalf of the principal that will give them the most amount of money if they are given a percentage, even though it might not be the best deal for the principal.  2.) One example of the agency problem outside of real estate is between a client and a lawyer. The client could hire the lawyer to negotiate and represent them, but the lawyer may have interests that are different. If the lawyer is being paid by the hour, they may spend more time than they might need on the case because they will get paid more instead of trying to solve the problem quickly and cheaply. One way to manage this conflict is to use a...
Post a Comment
Read more

Week 11

 For our Live8 negotiation, my role was the manager of internet development. We negotiated through email at first and then through text on Instagram after. I made the first offer and offered 500k for the rights to the name. After a little back and forth, we came to a compromise at 850k, and I would get the rights within a week. It was a lot different than before because it was harder to communicate, and there was less talk back and forth, and there was an urgency to find a deal and find it fast.  Since we talked over email and text, it made it very hard to get a read on the person you're talking to. You can't get those context clues when talking, and can't have a constant conversation without there being time in between chats. I missed the chance to take more shots at a lower price before finding a deal. I was forced to compromise sooner than I wanted to since we couldn't talk as much as we would in person.  It impacted my results because I was not able to understand th...
Post a Comment
Read more

Week 10

 1.) Out of all of the strategies, I usually align the most with The Principle of Consistency. I find it easiest to get someone to agree to something small at first, and once they agree to that, it makes it easier to have them agree to the bigger issue. Trying to push the big problem right away will be hard to do and might cause conflict, but when I get someone to agree to something small, it makes the rest of it easy. An example would be this past negotiation with the school board. Being a part of the faculty, we focused on trying to help the students with the locker rooms, even though the other groups did not want it. So we decided to work with the other group first to handle the parts they wanted, like the roof, and after everyone agreed, we pushed for the locker room, which made it easier.  2.) The one I am most susceptible to is the authority. When someone uses the scarcity principle, it would be the most effective against me. When there is a strict deadline and a limited...
Post a Comment
Read more

Week 7

 2.8 One thing I learned  is that power is not just about someone’s personality. A lot of power comes from the position someone has and how important they are in an organization. The reading explains that people often think powerful people are naturally confident, but sometimes they become confident because they already have power. I thought that was interesting because it shows that where someone is placed can matter just as much as who they are. 3.10 A big idea I learned is that people can get better results when they work together instead of alone. The ranchers in Wyoming were able to get better deals by joining together and negotiating as a group with wind companies. If they stayed separate, the companies had more control. This shows that being part of a group can give people more power in negotiations. 3.11 One thing I took away is that making a group is easy compared to keeping everyone together. Even if people have the same goal, they can still disagree or start th...
Post a Comment
Read more

Week 6

 1.) For the text Women Don't Ask , I find that sometimes people miss opportunities because they don't speak up, not because they aren't capable of the job. It made me realize that others and I might avoid asking for certain things, like raises or even other opportunities, because of the fear of rejection. I also find it very true that men do ask for things more than women do, and that seems to be a big reason that men take up more of the higher-level jobs. A small negotiation in this instance might make a huge difference.  2.) For my personal negotiation ethic, it is closest to the Pragmatist School with influence from the Idealist School. I believe that being fair and honest can help guide negotiations, and I think that not every detail needs to be revealed in a negotiation. I think that it is acceptable to use "puffing" to start with a higher or lower offer, but it is not right to simply lie about important facts that the other side needs to make a decision. Be...
Post a Comment
Read more

Week 5

 For my job Joe Tech, If I would have accepted the inital offer for my score sheet I would end up with 35 points, for the revised I would of had 42 points, and for the offer from 4Comm I would have 70 points.  The differences between each offer is that they keep going up as you go on. The inital offer was cleary not enough and the revised offer was a lot better. The offer for FourCom was clearly the best offer but was the last option due to the risk of taking the job. I do belive that the difference in the scores does reflect my present feeling in class but there are also other important details that are not listed such as career trajectory, stock options, and job assignments. I don't think I would change my score sheet because I had the higher number of points based on how important each point is. For example, position was the most important in the negotiation so it had the most points and the points get lower as you go down. I do think that other issues should be included ba...
Post a Comment
Read more

Checklist

Image
Scoring:  80-100 = Ideal | 65-79 = Acceptable | Below 65 = Walk Away   
Post a Comment
Read more