Federated Science Fund
Negotiations and Conflict Resolution
ORGB 420
Learning Journal Template
Reflect on the negotiation exercise that you participated in. In particular, analyze the facts, tools, mistakes, insights, emotions, and goals from the exercise. Turn in this learning journal within one week of the negotiation exercise.
Name of Exercise: Federated Science Fund
Name of Partner: 1. Facts: Provide a brief overview of key events (How was the time allocated? Offers: opening-offer and counter-offer, as well as progression of offers? How was information exchanged? Were there pivotal turning points?)
Yet again, I felt that I was placed in the weakest position in the negotiation, which would be that of United Industries. I knew, beforehand, that it would be a multi-party negotiation, and that the other two companies had the best option, if they decided form a consortium among themselves. This was the worst thing possible, from my perspective, and I was considerably worried about the possibility that it would happen without even taking my firm, into consideration. Unfortunately for me, my fears nearly came to fruition. Because the negotiation was graded and there was a possibility someone could end up really suffering from a two-party agreement, it seemed all three of us were hesitant to make an offer, especially one that would exclude one of the parties. Finally, Jamie asked both Jack and I what was a fair offer. I was the one to speak up at this point, and I suggested that we split it three ways. I also mentioned how maybe it would be fair for my firm to get a little more, like $180,000, because I was the smallest and most in need of financial capital, while the other firm were better established. My reasoning was that my innovative firm with numerous breakthroughs, would use the extra money to develop the products that would ultimately benefit all parties involved in the consortium. Right then, it became apparent that this was not a good proposal
ORGB 420
Learning Journal Template
Reflect on the negotiation exercise that you participated in. In particular, analyze the facts, tools, mistakes, insights, emotions, and goals from the exercise. Turn in this learning journal within one week of the negotiation exercise.
Name of Exercise: Federated Science Fund
Name of Partner: 1. Facts: Provide a brief overview of key events (How was the time allocated? Offers: opening-offer and counter-offer, as well as progression of offers? How was information exchanged? Were there pivotal turning points?)
Yet again, I felt that I was placed in the weakest position in the negotiation, which would be that of United Industries. I knew, beforehand, that it would be a multi-party negotiation, and that the other two companies had the best option, if they decided form a consortium among themselves. This was the worst thing possible, from my perspective, and I was considerably worried about the possibility that it would happen without even taking my firm, into consideration. Unfortunately for me, my fears nearly came to fruition. Because the negotiation was graded and there was a possibility someone could end up really suffering from a two-party agreement, it seemed all three of us were hesitant to make an offer, especially one that would exclude one of the parties. Finally, Jamie asked both Jack and I what was a fair offer. I was the one to speak up at this point, and I suggested that we split it three ways. I also mentioned how maybe it would be fair for my firm to get a little more, like $180,000, because I was the smallest and most in need of financial capital, while the other firm were better established. My reasoning was that my innovative firm with numerous breakthroughs, would use the extra money to develop the products that would ultimately benefit all parties involved in the consortium. Right then, it became apparent that this was not a good proposal