The CEO of your company was recently fired because of financial and legal irregularities that threw the company into a dire situation where its very existence is in jeopardy. At the initial meeting each search committee explores the nature of leadership and reaches consensus on what kind of leader the company needs to survive and reports its findings to the full board.
Utilizing the 10 BEST PRACTICES in NEGOTIATIONS provide an analysis and a strategic solution to negotiate the future of the CEO. Present the negotiating document to the full board of directors utilizing the following practices;
Diagnose the fundamental structure of the negotiation
Identify and work with BATNA
Be willing to walk away
Master the key paradoxes of negotiation
Remember the Intangibles
Actively manage coalitions- Those against you, for you, and unknown
Savor and protect your reputation
Remember that rationality and fairness are relative
Continue to learn from your experience
Points of Evaluation:
• Effective leadership, rather than being a personal quality that resides in special individuals, is vitally dependent on the context of the organization, its particular needs at a given moment, and whether its leaders have the skills to meet those needs
• Negotiation is a crucially important skill for any leader. How leaders negotiate determines in large measure their ability to achieve organizational objectives.
• Effective organizational leadership requires skill at conducting multilateral negotiations and effective coalition building.
In developing your Negotiation document, try to demonstrate clarity of thinking, understanding, and application of Best Practices in Negotiations, and creative — but realistic — use of its tools. Explorations of your options and choices are an important part of demonstration of your mastery of negotiation. There is seldom only one potential course of action in developing a Negotiation Plan; demonstrate that you have considered options and alternatives at each step in your plan and have chosen the best.
This assignment gives you the opportunity to practice developing an integral use of negotiation strategy for a given problem, solution, mediation, proposal, or business venture to make the course come alive through application of the principles and use of the tools presented. It also helps you develop stronger business-oriented written proposal communication expertise. The development of this negotiation plan is an on-going and integral part of the course.
A good Negotiation involves extensive research and analysis in order to make this a realistic and worthwhile project. Obviously, you cannot simply copy a plan that has already been devised by an organization or by another individual.
Suggested sources to get you started:
Webliography Tab: Useful Internet links
World Wide Web: Research the Internet (Do not use WIKI websites)
Or, use other resources available to you, such as:
Internal, non-proprietary company information
Calls to competitors for product and company information
Surveys of potential customers
Observation of prospective customers or competitors
A literature search at the local library
Your own newspapers or professional journals for articles and advertisements Outline for the paper (suggested page count)
Scope of the Problem: (1 to 1.5 pages)This section is a Summary of the problem presented up for a negotiation. It also serves as the hook for the read who could be the board members who will choose to read or not read the whole Negotiating Plan based upon what they read in this section.
Appears at the beginning of the paper, but is written last
Situation Analysis: (5 to 6 pages)
Best Practices in Negotiations (3 to 4 pages)
Strategy (3 to 4 pages)
Team Hierarchy Structure (3 to 6 pages)
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