Wal-Mart Negotiations with Talley
Communication Problems/issue Identification --------------------------------- 1-2
Analysis Section ---------------------------------------------------------------------- 2-4
Recommendations ------------------------------------------------------------------- 4-6
References ---------------------------------------------------------------------------- 7
Communication Problem/Issue Identification
Effective communication strategies and a well thought out plan of attack are essential elements to any negotiation. Incorporating these two elements will significantly improve the chances of the negotiation ending in favor of the terms sought. Alas, in this day in age negotiators are finding themselves too busy to devote the necessary time to ensure proper preparation of the basics causing results to occur more so by chance rather than negotiator effort (Lewicki, 85). Fortunately, for Frey Farms they have an outstanding negotiator in Sarah Talley. Frey Farms faces a major issue in being such a small company attempting to compete with such big players like Wal-Mart and its contingent co-managed mega stores. That is why it is so important that Sarah incorporates an intelligent strategy, takes the time to do her homework on Wal-Mart, and devises an effective plan for the negotiation.
Negotiation Strategy and Planning
Sarah Talley is faced with convincing one of America’s biggest corporations to conduct business with a small, local business while competing against other “mega-store” competitors. Sarah knew what she wanted, she wanted her company to expand its business, serving more customers and gaining more profit. Sarah had successfully established a goal, which is the “first step in developing and executing a negotiation strategy” (Lewicki, 86). Sarah knew that her company was less strategically positioned than its competitors in terms of product differentiation and available resources. Sarah states that “As a young company, what Frey had to offer really
Analysis Section ---------------------------------------------------------------------- 2-4
Recommendations ------------------------------------------------------------------- 4-6
References ---------------------------------------------------------------------------- 7
Communication Problem/Issue Identification
Effective communication strategies and a well thought out plan of attack are essential elements to any negotiation. Incorporating these two elements will significantly improve the chances of the negotiation ending in favor of the terms sought. Alas, in this day in age negotiators are finding themselves too busy to devote the necessary time to ensure proper preparation of the basics causing results to occur more so by chance rather than negotiator effort (Lewicki, 85). Fortunately, for Frey Farms they have an outstanding negotiator in Sarah Talley. Frey Farms faces a major issue in being such a small company attempting to compete with such big players like Wal-Mart and its contingent co-managed mega stores. That is why it is so important that Sarah incorporates an intelligent strategy, takes the time to do her homework on Wal-Mart, and devises an effective plan for the negotiation.
Negotiation Strategy and Planning
Sarah Talley is faced with convincing one of America’s biggest corporations to conduct business with a small, local business while competing against other “mega-store” competitors. Sarah knew what she wanted, she wanted her company to expand its business, serving more customers and gaining more profit. Sarah had successfully established a goal, which is the “first step in developing and executing a negotiation strategy” (Lewicki, 86). Sarah knew that her company was less strategically positioned than its competitors in terms of product differentiation and available resources. Sarah states that “As a young company, what Frey had to offer really
References: Engleberg, I.N. and Wynn, D.R, (2007). Working in groups. Chapters 7 and 8. New-York: Houghton Mifflin Company. Goleman, D., Boyatzis, R., & McKee, A. (2000) Leadership that gets results. Harvard Business Review, 78(2), 78-90 Lewicki, R.J, Barry, B, Saunders, D.M (2007). Essentials of Negotiation. Chapter 1 & 2. 4th ed. New-York: McGraw-Hill Project Management Institute. (2008). A guide to the project management body of knowledge (4th Ed.). Tannen, D. (1995, September/October). The power of talk: Who gets heard and why. Harvard Business Review, 75(3), 138-148 Umlas, Judith (2006). The power of acknowledgment. New York, New York: Iil Publishing.