Viking Investments Learning Journal
The Viking negotiation was quite tasking in the sense that it was tough to try to figure out a solution because both sides were in a bad situation financially, and the amount of options to solve the problem were very limited. From the beginning we just talked about the scenario in a open, friendly way to see what each side had to say about the situation. We discussed each problem at hand and what each side wanted, so we had some idea of what kind of solution we could try to come up with. When we found out that the things we wanted would not be able to yield a pleasant solution for any party. I knew at this point someone would …show more content…
I knew I wasn't going that far in this negotiation but it still helped to have the idea at the back of my mind.
Even though I knew I had very little leverage over Pat, I tried to emphasize the advantages I had. For example, I kept talking about the fact that he gave his secretary the right to handle thing while he was away and that if we went to court it would hold-up as a sworn testimony. I also kept reminding him that if we didn't reach an agreement he stood the risk of bankruptcy and that was something we were both trying to avoid. I think that helped. So I would say that establishing and emphasizing your strengths, no matter how little, really helps in negotiations.
I found that it also helped to use mixed communications with my partner. Although I tried to establish a position of strength, I also made it clear that I was very willing to come to a favorable agreement for both parties so I basically reciprocated contentious communication with a cooperative communication and this helped a lot.
I would love to negotiate with Harsha again. He was intelligent, willing to come up with a good solution, and honest about his needs. This negotiation showed the importance of seeing the bigger picture. You need to realize what arguing and not reaching an agreement will mean to you, your company, and your future. Although time was a restriction, I think our agreement process was done properly. If I had this