Real World Negotiation Paper (20%)
At the end of this course, you will go out into the real world to practice your skills! Pick any real world negotiation you have participated in during this course, or execute a negotiation this week that you have been thinking about. You can negotiate for anything of value to you: salary, monthly rent, a Moroccan rug, a fancy new watch, a family vacation, etc. Please take it seriously, make it something relevant to your life, and have concrete learning objectives in mind.
Analyze your experience. Include a brief narrative description of how you prepared for the negotiation, what happened, how you felt during the interaction, and what the outcome was. Then, turn the bulk of your attention to a critical analysis:
Why did the negotiation turn out the way it did?
What did you gain by negotiating?
What could you have done differently to produce a better outcome?
The paper should be no longer than five double-spaced pages, and should include a Planning Sheet of your choice as an Appendix on the 6th or final page. Papers must be formatted with 1” margins all around and Calibri 11-point font. This paper will be graded on a traditional 100-point scale.
Assignment Ground Rules
Do not reveal the assignment. Don’t use lame pleas like, “Please just help me out, this is for a class….” You may not disclose this information until the negotiation is complete.
No purchase necessary: You do not have to buy anything to complete this assignment. You may choose to be the seller or enter a negotiation that does not involve financial terms.
Good faith effort: It must be possible and you must be willing (at some price or under some conditions) to acquire the item for which you are negotiating. Don’t try to buy a Maserati for five bucks or convince you friends to go to Siberia instead of the Seychelles for winter break.
New negotiation: You are required to conduct this negotiation during this class so that you can apply the knowledge that you have gained in the course.
Boundaries: You cannot use negotiation tactics that may be considered unethical, illegal, or potentially harmful to yourself or others.
Failure is an option: Often, we learn as much from negotiations that fail as those that succeed. However, if you do fail, please seek feedback from your counterpart on how you could have negotiated more effectively—and write about what you learned.
Mistakes. What did you do that you should not have done (i.e. opened too soon; trusted too much, made a concession too quickly) and/or what did you not do that you should have done (i.e. asked more questions, closed with more clarity, etc.)?
Insights into your personal style/habits/instincts. What personal insights can you take away from this experience to improve for next time? Use the facts to support your analysis.
Insights into your negotiating counterparty. Analyze your counterparty’s behavior in detail. Was your partner skilled? What did he or she do well? How did you size up your counterparty and adjust your strategy? Did it work?
