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Reflective Report

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Submitted By rudolfkennedy
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A Reflection on :
A Business Negotiation between Riggs and Vericomp
By

Rudolf Kennedy Khyriem
[17937261]

Business Marketing

M.Enjeti

This paper is going to inspect my own behaviour and present awareness, and demonstrates a reflection of my individual part with this experience. Before I emphasise or talk about my individual performance, I would like to explain and summarise the whole experience and situation.
Before the actual preparation I had learnt that there are three stages of negotiation. 1) Build up criteria. Figure out precisely what the other team anticipate that we will do. Figure out what they need. Tell the other team what we are willing to do. 2) Acquire information about the other team. Never assume. 3) Reach a tradeoff that is satisfactory to both parties.

Before the Negotiation we had a thorough plan to discuss and analyse the deal between Riggs and Vericomp. We did our research and prepare for the coming negotiation. Research and preparation is crucial in this matter as without proper preparation either team could lose track of the goal and end up making bad decisions or deals that might jeopardise the negotiation. This is a Negotiation not a contest where the best team wins. We were hoping to make a deal with Vericomp in such a manner that both parties come out of this deal satisfied. We were not going to swindle the other party over neither were we prepared to lose our goals.
In order to prepare and be ready for any outcomes, I developed a clear understanding of our goals and desire before we enter the negotiation. I analyse each part of the arrangement and separate them. I had set up options and possibilities that would arise in the circumstance that the other team may propose an offer we were not willing to acknowledge. We were prepared to forfeit the agreement in order to ensure Riggs’ benefit if unfair proposals were made.
To

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