Negotiation: Theory And Practice Coursework Example

Negotiation
Student’s Name
Institution’s Affiliation
Negotiation
I was recently faced with a dilemma on whether to leave my two-years-old job. I just applied for a job in another company which I got so I decided to approach the manager for a salary increment or else I quit. My current job was well paying but less much like the one offered by the new company. I have always been a hardworking employee whose efforts were remarkable and the manager, as well as the company, would not be ready for this. So during the negotiation, the manager offered to increase the salary to retain my expertise in the company, though will add more burden to the struggling company. The entire management did not receive my decision well, and I knew this would dearly affect our relations.
The negotiation table, I employed a strategic approach to obtaining my specific goal. Before I decided to engage the manager, I did a thorough strategic analysis on the location, salary and convenience for the two options I was considering. A strategic approach involves a clear formulation of plan and strategy, and the players make choices regarding the calculated results and rational decisions. The company evaluated their possible cost of recruiting and training a new employee is much higher than retaining my expertise. Through my objective evaluation, I also deduced some possible options that if offered, would make me continue working for the company. The manager and I arrived at a collaborative outcome through an integrative negotiation.

The company through the manager was willing to stake more for us to achieve a win-win situation.
The strategic approach I employed made the deal successful. I decided to use this negotiation approach to determine the best working condition regarding convenience, salary, and location and to achieve these conditions while delivering the best services to the company. The company, on the other hand, determined their set of options such as the salary increment considerations and allowances that they can offer comfortably. This made us achieve a win-win situation while keeping a good relationship. The strategic approach focuses mainly on the means that the players employ to obtain the desired set of options (Fells, 2016). Mathematically calculated and deduced options, as well as rational decisions, are involved in coming up with a set of desired options. Also, the approach excludes the subject of power whereby one party uses power to influence the other party’s decisions and options they can offer. Therefore, it is the most effective approach in a situation where all the parties involved in the negotiation stand to lose and to work to minimize the loss.
An integrate negotiation requires a strategic approach to work more efficiently (Lewicki, Barry, & Saunders, 2017). All the players determine their set of options to consider and the minimum threshold for each as well as determining their possible losses in case the negotiation fails. To reach an agreement, the negotiators adjust to each other’s demands until they reach the set threshold where further demands will make them drop the deal. However, when the demands do not exceed the set minimum threshold, the negotiation is likely to be successful. To achieve a win-win situation, the parties involved should seek to accommodate each other and offer more options to either minimize the loss or maximize the gains (Menkel-Meadow & Schneider, 2014). The accommodation is made possible through increasing the range of stake to be offered to the other party.

References
Fells, R. (2016). Effective negotiation: From research to results. Cambridge University Press.
Lewicki, R. J., Barry, B. A. & Saunders, D. (2017). Essentials of Negotiation 6th New York: McGraw-Hill/Irwin. ISBN: 9780077862466  
Menkel-Meadow, C. J., & Schneider, A. K. (2014). Negotiation: Processes for Problem Solving. Wolters Kluwer Law & Business.