Win-win Situation for all Parties Involved in Negotiation
In this case study, both parties would have benefited from a win-win situation by reaching a common agreement. For the building management, an agreement could have prevented me from leaving, thus generating profits. Also, our shop sold unique products that promoted the diversity of the shopping center. Therefore an agreement encouraging us to remain at the location added value to the building. On our side, an agreement could have helped us to retain the loyal customers we had gained from the locality. Moving to another far location meant losing some clients and having to go through the hassle of gaining new ones. Also, the shopping center was among the most famous shopping platforms and therefore remaining in the location promoted our likelihood of increasing my sales.
As seen in this case study, negotiations focusing on a single issue create a situation where one side wins while the other one loses. The main focus was on a single issue, the fixed rent. This made the negotiation process more challenging. By considering multiple issues and integrating several factors, both parties would have benefited and minimized the potential complexities. Agenda creation is regarded as the first step towards a win-win situation in a negotiation (Fisher, Ury, & Patton, 2011). This helps in highlighting key issues that may be understated. However, both parties in the case study failed to take these important initial actions in the negotiation and instead withheld important information about potential losses and benefits. Lack of information is considered a negotiation impediment (Howard, 1997). Therefore, negotiators should introduce all the issues at the beginning of a negotiation to develop a negotiation direction that addresses multiple factors.
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