MBA506 Thinking Styles Negotiation And Conflict Management

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MBA506 Thinking Styles Negotiation And Conflict Management

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MBA506 Thinking Styles Negotiation And Conflict Management

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Course Code: MBA506
University: Kaplan Business School

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Country: Australia

Question:

You will engage in a negotiation for the sale and purchase of a commercial asset such as a business or a piece of real estate.
You may be nominated to represent the vendor and will receive email instructions from the vendor company CEO including:

Appointment to represent the company as their agent for the sale of the commercial asset;
Specific details about the commercial asset;
Information about the status of current negotiations with an alternative potential purchaser;
Information about a new potential purchaser;
Contact details of the agent appointed to represent the purchaser. Alternatively, you may be nominated to represent the purchaser and will receive email instructions from the purchaser company CEO including:
Appointment to represent the company as their agent for the purchase of the commercial asset;
Specific details about the commercial asset;
Information about alternative assets the company is considering purchasing instead;
Information about the vendor;
Contact details of the agent appointed to represent the vendor.

You must answer the following questions:

What is your thinking style preference form – monarchic, hierarchic, oligarchic, anarchic – andwhat is your thinking style scope – internal, external? Attach copies of completed Sternberg-Wagner Thinking Style Inventories.
Are your thinking style preferences – form and scope – optimal for conducting this negotiation? Explain your answer.
What adjustments (if any) could you make to adapt to a more optimal thinking style for this negotiation?
What is your client’s BATNA? What is your client’s reservation value?
What is the other party’s BATNA? What is the other party’s reservation value?
What is the ZOPA range? What is your strategy for claiming the greater proportion of theZOPA?

Answer:

Pre-negotiation 
Answer 1)
Sternberg-Wagner Thinking Style Inventories

Sternberg-Wagner Self-Assessment Inventory on the Monarchic Style

Options

Not at all
well

Not very well

Slightly
well

Somewhat
well

Well

Very well

Extremely well

When talking or writing about ideas, I stick to one main idea

 

 

 

4

 

 

 

I like to deal with major issues or themes, rather than details or facts.

 

2

 

 

 

 

 

When trying to finish a task, I tend to ignore problems that come up.

 

 

 

 

5

 

 

I use any means to reach my goal.

 

 

 

 

5

 

 

When trying to make a decision, I tend to see only one major factor.

 

 

 

4

 

 

 

If there are several important things to do, I do the one most important to me.

 

 

 

 

 

 

7

I like to concentrate on one task at a time

 

 

 

 

5

 

 

I have to finish one project before starting another one.

 

 

 

 

 

 

7

Average score: 4.875

Category: Somewhat well

Preferred style? No

 

Sternberg-Wagner Self-Assessment Inventory on the Hierarchic Style

Options

Not at all
well

Not very well

Slightly
well

Somewhat
well

Well

Very well

Extremely well

I like to set priorities for the things I need to do before I start doing them

 

 

 

 

5

 

 

In talking or writing down ideas, I like to have the
issues organized in order of importance

 

 

3

 

 

 

 

Before starting a project, I like to know the things I have to do and in what order.

 

2

 

 

 

 

 

In dealing with difficulties, I have a good sense of how important each of them is and what order to tackle them in

 

 

 

4

 

 

 

When there are many things to do, I have a clear sense of the order in which to do them.

 

2

 

 

 

 

 

When starting something, I like to make a list of things to do and to order the things by importance.

 

 

 

4

 

 

 

When working on a task, I can see how the parts relate to the overall goal of the task.

 

 

3

 

 

 

 

When discussing or writing down ideas, I stress the main idea and how everything fits together.

 

 

 

 

5

 

 

Average score: 3.5

Category: Slightly well

Preferred style? No

 

Sternberg-Wagner Self-Assessment Inventory on the Oligarchic Style

Options

Not at all
well

Not very well

Slightly
well

Somewhat
well

Well

Very well

Extremely well

When I undertake some task, I am usually equally open to starting by working on any of several things

 

2

 

 

 

 

 

When there are competing issues of importance to address in my work, I somehow try to address them simultaneously.

 

 

3

 

 

 

 

Usually, when I have many things to do, I split my time and attention equally among them.

 

2

 

 

 

 

 

I try to have several things going at once so that I can shift back and forth between them.

 

 

 

4

 

 

 

Usually, I do several things at once

 

 

 

 

5

 

 

I sometimes have trouble setting priorities for multiple things that I need to get done.

 

 

 

4

 

 

 

I usually know what things need to be done, but I sometimes have trouble deciding in what order to do them

1

 

 

 

 

 

 

Usually, when working on a project, I tend to view almost all aspects of it as equally important.

 

 

3

 

 

 

 

Average score: 3

Category: Slightly well

Preferred style? No

 

Sternberg-Wagner Self-Assessment Inventory on the Anarchic Style

Options

Not at all
well

Not very well

Slightly
well

Somewhat
well

Well

Very well

Extremely well

When I have many things to do, I do whatever occurs to me first

 

 

 

 

5

 

 

I can switch from one task to another easily because all tasks seem to me to be equally important.

 

 

 

4

 

 

 

I like to tackle all kinds of problems, even seemingly trivial ones.

 

 

3

 

 

 

 

When discussing or writing down ideas, I use whatever comes to mind.

 

 

 

 

 

6

 

I find that solving one problem usually leads to many other ones, that are just as important.

 

 

 

 

5

 

 

When trying to make a decision, I try to take all points of view into account.

 

 

 

 

 

 

7

When there are many important things to do, I try to do as many as I can in whatever time I have

 

 

 

4

 

 

 

When I start on a task, I like to consider all possible ways of doing it, even the most ridiculous.

 

 

 

 

 

6

 

Average score: 5

Category: Well

Preferred style? Yes

 

Sternberg-Wagner Self-Assessment Inventory on the Internal Style

Options

Not at all
well

Not very well

Slightly
well

Somewhat
well

Well

Very well

Extremely well

I like to control all phases of a project, without having to consult with others

1

 

 

 

 

 

 

When trying to make a decision, I rely on my own judgment of the situation.

 

 

3

 

 

 

 

I prefer situations where I can carry out my own ideas, without relying on others.

 

 

 

4

 

 

 

When discussing or writing down ideas, I only like to use my own ideas.

 

2

 

 

 

 

 

I like projects that I can complete independently.

 

 

3

 

 

 

 

I prefer to read reports for information I need, rather than ask others for it.

 

 

 

4

 

 

 

When faced with a problem, I like to work it out by myself.

 

2

 

 

 

 

 

I like to work alone on a task or a problem.

 

 

 

4

 

 

 

Average score: 2.875

Category: Not very well

Preferred style? No

 

Sternberg-Wagner Self-Assessment Inventory on the External Style

Options

Not at all
well

Not very well

Slightly
well

Somewhat
well

Well

Very well

Extremely well

When starting a task, I like to brainstorm ideas with friends or peers

 

 

 

4

 

 

 

If I need more information, I prefer to talk about it with others rather than to read reports on it.

 

 

 

 

5

 

 

I like to participate in activities where I can interact with others as part of a team.

 

 

 

 

 

6

 

I like the projects in which I can work together with others.

 

 

 

 

5

 

 

I like situations where I interact with others, and everyone works together.

 

 

 

 

 

6

 

In a discussion or a report, I like to combine my own ideas with those of others.

 

 

 

 

 

 

7

When working on a project, I like to share ideas and get input from other people

 

 

 

 

 

 

7

When making a decision, I try to take the opinions of others into account

 

 

 

 

5

 

 

Average score: 5.625

Category: Well

Preferred style? Yes

Answer 2) 
Negotiation is the procedures by which two or more different thinking people settle their differences (Macaulay, 2018). Therefore, it is also considered as a method by which the person conclude to an agreement or compromise with other opinions and thereby the argument or conflict will diminish. The paper will deal with the negotiation aspect for the sale and purchase of a commercial asset like the piece of real state. Therefore, to manage this negotiation aspect proper thinking styles must be present in a person by which they can easily tackle the negotiation procedure that generates in this respective condition (Nguyen, 2015). Hence after reviewing the Sternberg-Wagner Thinking Style Inventories, I have come to know that my preferable forms of self-assessment are the anarchic style and among the two scopes I preferred mainly the external style.
The anarchic forms refer to the method where an individual has posed greater flexibility of approaches and thereby wanted to complete the projects, assignments or tasks at a time and please their professors (Chow, Hafalir and Yavas, 2015). Hence this character of anarchic form helps me to think critically for optimization or conducting the negotiation process. In addition, this type of individuals are mainly anti-systematic or systematic that means they think out of the box for maintaining any arguments or conflict that occur in the surrounding area. Hence, I can say that with the help of this character I can easily think out of the box for conducting this negotiation and thereby convince the people to use my idea and thoughts in accordance to the sale and purchase the respective commercial asset. In other words, the forms also helpful for negotiation aspects because it helps an individual to think about the other side of the table by which they can easily convince other people to negotiate on their thoughts or ideas (Eisenberg and Miller, 2015).
Therefore, it is quite evident thetas by following this form I can easily convince the people to chooses by thoughts and thereby help them to understand the positive aspects of chosen this idea for optimizing the negotiation aspect rather that other preferable ideas. Apart from this, the individual following this anarchic form can give a random approach to the various challenges or problems and therefore it sometimes very difficult for the other person to understand their way of approach (Miner, 2016). This problematic approach can create various issues towards me, but with the help of decent convincing power, I can easily reduce my challenges. Besides this, if some cannot understand my motive of conducting this negotiation, then I can convince them to understand my ideas or thoughts of negotiating and by demonstrating the positive aspects of negotiation, I can easily reduce my problems. Among the scope, I have preferred mainly the external scope because it helps me interact or communicate with others regarding different progress of negotiation aspect. In addition, by following this scope, I can easily work with others without facing any difficulty, and thereby it makes me extraverted as well as comfortable in group settings. Hence it is that both my excellent form and scope help me to be optimal for conducting this negotiation aspect.
Answer 3)
Optimal thinking refers to the process of rational thinking or technology that empowers an individual to give their best for the respective task, projects or any assignments (Henderson and Mitrova, 2015). Hence to adopt a more optimal thinking style in accordance with this respective negotiation I have to make some adjustments on my thoughts and idea generating ability so that I can easily enhance my optical thinking style. Therefore, in order to enhance my optical thinking ability, I have to adjust my idea or thoughts and try to think it in a logical manner. By following this adjustment, I can easily develop my thinking ability for this negotiation aspect and thereby I can easily focus on the issue and ignore the thoughts that of no use for this respective type of negotiation.
In addition, thinking by means of rational as well as logical perspective help me to think critically any other possible procedures by which I can easily convince people to make this respective negotiation that has been generated for the sale and purchase of the commercial asset. Therefore, it is clear that this adjustment on my thinking and pursuing ability will help the individual to develop their optimal thinking ability for this respective negotiation procedure.
Answer 4) 
BATNA stands for the “Best Alternative to a Negotiated Agreement,” and it is an agreement of negotiation procedure that defines the course of action of a party (Ximei et al., 2015). Therefore, the BATNA is simple words refers to the procedure by which if a party become unsuccessful in its negotiation aspect then by this agreement they can easily resolve the complex situations (Li, 2014). Hence, the client BATNA for this case must be 27,000 dollars because the negotiation is related to the sale and purchasing procedure of a commercial aspect. In addition, the reservation value will be 23,000 dollars because it considers as the least favorable point at which the respective negotiation can be accepted.            
Answer 5) 
After reviewing the BATNA as well as the reservation value, it is clear that the reservation value will be quite lower than that of BATNA and it demonstrates as the least amount for which the negotiation agreement can be made (Kahl, Shivdasani and Wang, 2015). Hence, the other party BATNA must be the same as that of the client, but their reservation value must be different from each other aspects. Therefore, it is clear that the other party BATNA value must be 27,000 dollars, but their reservation value must be slightly higher than that of the client’s reservation value. Hence the other party reservation value is 24,500 dollars, and it is quite higher than the client’s reservation value.             
Answer 6) 
ZOPA or Zone of Possible Agreement refers to the potential agreement that provides benefits to both parties more than that of their alternative options (Bril, Kalinina and Valebnikova, 2016). Therefore, the ZOPA range considers being a critical aspect of negotiation because this range only exists when both the parties explore their various options and interests in accordance with the asset (Downs and Xu, 2015). My strategy is to understand both parties walk away from positions and BATNAs so that they communicate and thereby I can claim for the greater proportion of ZOPA.            
Negotiation 
In this study, the negotiation prospects are related to the sale and purchase of a commercial asset. Therefore, the principles of negotiations will be followed for making a deal with another party. Hence for negotiations, the communication method that should be used is the e-mail log and written communication aspect because it helps both the parties to enter the negotiation details for the sale and purchase of the commercial asset (Liozu, 2015). The most difficult aspect of negotiating a business sell is to set the selling price of the commercial asset. Therefore, the selling price should be set in such a manner that it provides financial profit to the party that wanted to sell the commercial asset. Besides this, in the negotiation procedure, the owner will split the price into two sections of which one section represents the price of buildings, stocks, and shares while the other section represents the price of assets (Gopalan, Mukherjee and Singh, 2016). Hence both these sections will be briefly discussed in the e-mails so that both parties will easily negotiate their price over these two different sections. Another negotiations aspect that should be entered with the counterpart is regarding the status of the building in accordance with the location (Theurillat and Crevoisier, 2014). Hence, these all negotiations regarding the sale and purchase of the commercial asset with the other party will be properly discussed in e-mails and after that when both parties agree on the fact, then a written agreement should be made by them. The agreement thereby made will support the fact of both parties, and by this way, the negotiations of both parties enter in relation to the sale and purchase of the commercial asset (Aglietta et al., 2015).                                   
Post negotiation 
I wish to confirm that the negotiations are occurring in between the two parties that have been related in the sale and purchase procedures of the commercial assets. The owner of the commercial assets places a price in terms of two sections one demonstrate the price of the building, stocks, and shares and the other demonstrates the price of the assets. Therefore a negotiation aspect will generate between the seller and purchaser regarding the price of the commercial assets and thereby mutual understanding will give rise to the positive outcome of the negotiation aspects. If the negotiation procedures are discussed through proper communication media like e-mails, then a positive outcome will generate in accordance with the respective negotiation act. In order to make a positive outcome of this negotiation, both parties have to consider their purpose of selling and purchasing the asset. The negotiation aspects often occur from the low bidding price, but on the basis of creditable reasons, both parties wail agreed on a particular price. Hence, it is clear that negotiation aspects become provides positive outcomes to both the parties one that is selling and the other who is purchasing this commercial asset.
Discussion through e-mails helps both parties to give their perspective regarding the price of the commercial assets, and thereby it helps them to negotiate on a point by which both the parties will be satisfied with the prices. With the help of emails conversation, they can plan the argument and give their strongest points of view regarding the price or any other procedure related to the commercial asset. Both the parties wanted to secure a good deal in relation to the commercial assets, and therefore proper communication with the respective interactive log is needed by both of them. Therefore, by proper interaction through e-mail and then through written agreement both the parties have reached on their respective outcomes. Hence, both parties agreement on the fact thereby considers as a good deal which therefore demonstrates as a positive outcome of this negotiation aspects. By this way, both the selling party and the purchasing party in relation to these commercial assets have reached their respective outcomes which consider that this negotiation procedure becomes helpful for them to achieve the positive outcomes.                         
References 
Aglietta, M., Hourcade, J.C., Jaeger, C. and Fabert, B.P., 2015. Financing transition in an adverse context: Climate finance beyond carbon finance — international environmental agreements: politics, law, and economics, 15(4), pp.403-420.
Bril, A., Kalinina, O., and Valebnikova, O., 2016. Innovation venture financing projects in information technology. In the Internet of Things, Smart Spaces, and Next Generation Networks and Systems (pp. 766-775). Springer, Cham.
Chow, Y.L., Hafalir, I.E. and Yavas, A., 2015. Auction versus negotiated sale: evidence from real estate sales. Real Estate Economics, 43(2), pp.432-470.
Downs, D.H. and Xu, P.T., 2015. Commercial real estate, distress, and financial resolution: Portfolio lending versus securitization. The Journal of Real Estate Finance and Economics, 51(2), pp.254-287.
Eisenberg, T. and Miller, G.P., 2015. Damages versus specific performance: lessons from commercial contracts. Journal of Empirical Legal Studies, 12(1), pp.29-69.
Gopalan, R., Mukherjee, A., and Singh, M., 2016. Do debt contract enforcement costs affect financing and asset structure?. The Review of Financial Studies, 29(10), pp.2774-2813.
Henderson, J. and Mitrova, T., 2015. The political and commercial dynamics of Russia’s gas export strategy. Oxford Institute for Energy Studies, 14, p.82.
Kahl, M., Shivdasani, A., and Wang, Y., 2015. Short?term debt as bridge financing: Evidence from the commercial paper market. The Journal of Finance, 70(1), pp.211-255.
Li, J., 2014. Land sale venue and economic growth path: Evidence from China’s urban land market. Habitat international, 41, pp.307-313.
Liozu, S.M., 2015. Pricing superheroes: How a confident sales team can influence firm performance. Industrial Marketing Management, 47, pp.26-38.
Macaulay, S., 2018. Non-contractual relations in business: A preliminary study. In The Law and Society Canon (pp. 155-167). Routledge.
Miner, S., 2016. Commitments on State-Owned Enterprises. Assessing the Trans-Pacific Partnership, 2, pp.335-48.
Nguyen, X.T., 2015. In the Name of Patent Stewardship: The Federal Circuit’s Overreach into Commercial Law. Fla. L. Rev., 67, p.127.
Theurillat, T. and Crevoisier, O., 2014. Sustainability and the anchoring of capital: Negotiations are surrounding two major urban projects in Switzerland. Regional Studies, 48(3), pp.501-515.
Ximei, L., Ming, Z., Xu, H., Lilin, P. and JunRong, D., 2015. Small hydropower financing in China: External environment analyses, financing modes and problems with solutions. Renewable and Sustainable Energy Reviews, 48, pp.813-824.

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