Viking Investments Case Study
Exercise Planning Document Viking Investments
Based on the role you are playing and the available information… What issues are most important to you? (List in order of importance)
To pay Sandy Wood of Woodcrafters the initially agreed contract amount of $7,000 per unit.
Recovering $200,000 from Sandy Wood provided for as a loan principle in 30 days.
The recovery of $10,000 rent arrears from Sandy Wood for the last two months.
Purchase the $200,000 Lakefront property before another investor does.
Have $500,000 to partake in the hotel partnership investment with friends.
What is your BATNA? Reservation Price? Target?
BATNA – $8,250
Reservation Price – $9,200
Target – $7,000 per unit
What issues do you think are the most important to your …show more content…
Who has more power-you or your opponent? What are the sources of power? What are theirs?
I have more powers than my opponent. The sources of my powers is the initial contract that was drafted with terms that did not allow for an increment of any cost overruns. In any case of such overruns, the contract states that Woodcrafters shall be responsible for such costs. The contract is both final and binding. On the other hand, Sandy Wood has the advantage on that Margaret, my secretary, agreed to the increment in charges. While the agreement was not legally written down, there was no way for Sandy to know that Margaret did not have the power to make decisions on behalf of Viking Investments.
What are your opening moves/first strategies? How do you plan to interact with the other party?
Even though the disagreement started off with a heated argument, I plan to first get Sandy on a somber mood through reminding her of our past successful business transactions and how thy have mutually beneficial to both of us. However, according to the signed contract I will ensure that Sandy understands that strategy is both wrong and unethical. Finally, I will ensure that Sandy agrees to the initial terms of the
Based on the role you are playing and the available information… What issues are most important to you? (List in order of importance)
To pay Sandy Wood of Woodcrafters the initially agreed contract amount of $7,000 per unit.
Recovering $200,000 from Sandy Wood provided for as a loan principle in 30 days.
The recovery of $10,000 rent arrears from Sandy Wood for the last two months.
Purchase the $200,000 Lakefront property before another investor does.
Have $500,000 to partake in the hotel partnership investment with friends.
What is your BATNA? Reservation Price? Target?
BATNA – $8,250
Reservation Price – $9,200
Target – $7,000 per unit
What issues do you think are the most important to your …show more content…
Who has more power-you or your opponent? What are the sources of power? What are theirs?
I have more powers than my opponent. The sources of my powers is the initial contract that was drafted with terms that did not allow for an increment of any cost overruns. In any case of such overruns, the contract states that Woodcrafters shall be responsible for such costs. The contract is both final and binding. On the other hand, Sandy Wood has the advantage on that Margaret, my secretary, agreed to the increment in charges. While the agreement was not legally written down, there was no way for Sandy to know that Margaret did not have the power to make decisions on behalf of Viking Investments.
What are your opening moves/first strategies? How do you plan to interact with the other party?
Even though the disagreement started off with a heated argument, I plan to first get Sandy on a somber mood through reminding her of our past successful business transactions and how thy have mutually beneficial to both of us. However, according to the signed contract I will ensure that Sandy understands that strategy is both wrong and unethical. Finally, I will ensure that Sandy agrees to the initial terms of the