This website uses cookies to ensure you have the best experience. Learn more

Assignment 5: Multiparty Negotiations, Trust/Reputation

1584 words - 7 pages

Assignment 5: Multiparty Negotiations, Trust/Reputation.

Negotiation and Conflict Resolution – BUS 526
June 9, 2011

Question 1: Explain how you would develop an effective negotiating team to work on multiparty negotiations. Outline the actions you would take and explain why these would be effective.
Multi-party negotiation is often considered to be an exercise in coalition-building according to Lax and Sebenius (1986). Negotiators try to form coalitions in order to pool their resources and have greater influence on outcomes.
In a multi-party negotiation, communication; information and exchange of ideas; trust; definition of interests and needs; and indeed the common goal ...view middle of the document...

Adherence to all these outlined actions will ensure effectiveness throughout the three key stages that characterizes multiparty negotiations because whatever issues that comes up along the line will be carefully considered and parties involved are considerably more likely to feel better about a process that will lead to an effective outcome than when everything was left to chance.
Question 2: Describe an event that would cause damage to the level of trust during negotiation and explain the actions you would take to repair the trust and maintain positive relationships with the negotiating parties.
McAllister (1995, p 24-59) defined the word trust as “an individual’s belief in and willingness to act on the words, actions and decisions of another”. Trust also reduces uncertainty over future outcomes, simplifies decision processes, and provides us with peace of mind.
Trust during negotiations can easily be damaged if care is not taken as in the scenario painted below.
A homeowner entered into negotiation with a gardening and landscaping contractor to do lawn care for him bi-weekly every month for $80 and will only accept a contract from him if he agrees to mulch his garden for free every three months. The contractor being pressed for business accepted the offer without careful consideration and the dotted lines were signed.
Three months into the contract, the contractor came back and wanted to renegotiate the contract to do the garden mulching for an additional $20 which the homeowner turned down immediately and requested the initial contract be upheld. Seeing there is no way to get more money from the homeowner, the contractor started putting less effort into the lawn care such that the lawn started growing weeds and looking untidy to the displeasure of the homeowner.
At this juncture, the homeowner had lost all faith and trusts in the services of the contractor and decided to cancel the contract and furthermore make sure he does not get any business within 20 mile radius of his home. But before he proceeded with his actions he made sure his feelings were conveyed to the contractor, whom later realized the potential harm this can cause his business if the homeowner went about his plan.
In repairing the trust and maintaining a positive relationship in this scenario, the contractor decided to enhance the likelihood of stimulating the homeowner’s willingness to reconcile, and further the trust rebuilding process with actions in the short term that may be confined to managing the distrust because “rebuilding trust is a process not an event” (Butler, 1999, p 217).
According to Lewicki, Wiethoff, & Tomlinson (2005, p 247) First on the to-do-list for the contractor will be to take action immediately after the violation by using restorative efforts such as taken care of the lawn appropriately and mulching the garden as originally agreed to. This communicates sensitivity to the homeowner and the relationship, and avoids the...

Other Papers Like Assignment 5: Multiparty Negotiations, Trust/Reputation

Trust Mechanisms Essay

3922 words - 16 pages approach for trust management in Semantic Web,” Presented at the 2nd Int. Conf. Computer, Control and Communication, Karachi, Pakistan, 2009. 4] R. Paul, Z. Richard, S. John and L. Kate. “The Value of Reputation on eBay: A Controlled Experiment,” ESA, Boston, MA, 2002. 5] C. Dellarocas. (2005, June). Reputation Mechanisms. 6] Kieron O’Hara, Harith Alani, Yannis Kalfoglou, and Nigel Shadbolt “Trust strategies for the semantic web” 7] Piero

Making A Choice Essay

541 words - 3 pages MAKING A CHOICE RESEARCH ASSIGNMENT Use the Internet as a resource to help you find answers to the questions on this worksheet. You may write your answers in the space provided below using YOUR OWN WORDS. 1. What is the meaning of the following terms (provide an example for each in your explanation): A) Equity Capital • A portion of the capital supplied by the sale of stock • Used to invest in the business

Negotiations

1093 words - 5 pages does not help me in this scenario at all, even though I could always walk away from the negotiations, it would not benefit me since I would get a zero on the assignment. Knowing my resistance point is important, because it helps me to set a legitimate goal to what I want to get, and from where to start the negotiation of my grade. Dealing with an opponent with obvious high power puts me in a situation where knowing my resistance point could be

Kudler Fine Foods

1722 words - 7 pages Week 4 Learning Team Assignment Part A: Trust and Interpersonal Relationships Introduction Team trust is “the belief that an individual or group (a) makes good-faith efforts to behave in accordance with any commitments both explicit and implicit, (b) is honest in whatever negotiations preceded such commitment, and (c) does not take excessive advantage of another even when the opportunity is available” (Cummings & Bromley, 1996, p. 303

Mgmt 628 Paper

1999 words - 8 pages together, a willingness to listen, hear, and value the others opinions, a willingness to share thoughts and information and a certain level of trust, there is a high probability that they will close those negotiations with a successful outcome and with a strengthened relationship. You are the Director in charge of corporate negotiations for Lockheed-Martin. You are in potential merger discussions with arch-rival General Dynamics. Pending FTC

Creating Lean Suppliers

1030 words - 5 pages to earn trust, maybe through a more detail contract or negotiations. c Prepare a list of the “lessons for customers” and list for the “lessons for suppliers” based on the BP case studies and summaries. Provide detail to explain each of these. III “Lessons for customers” 1. Structure the learning process so that the knowledge is easier to absorb. BP process is an effective mechanism to transferring knowledge that makes it

Negoation

4114 words - 17 pages reach an agreement since there are so many viewpoints that need to be taken into consideration. One procedural tool for managing conflict in the face of that complexity is to implement decision-making rules that control participants’ opportunities to communicate or specify how the group will make a decision (Bazerman et al 2000). Another way to structure the information-processing complexity of multiparty negotiations is to limit communication to

Bussiness and Management

1778 words - 8 pages Demonstrates application of critical analysis well integrated Following assignment guidelines Limited follow-up of assignment guidelines Some level of follow-up of assignment guidelines Good display of adherence to assignment guidelines Excellent adherence to assignment guidelines Total Special Remarks Signature of the Examiner 1-5 6-10 11-15 16-20 20 1-5 6-10 11-15 16-20 20 1-5 6-10 11-15 16-20 20 1-5 6-10 11-15 16-20 20 1-5 6-10 11-15 16-20 100

Admin Supervisor

498 words - 2 pages Case 5 “DAVID OUT-NEGOTIATION GOLIATH:APOTEX AND BRISTOL-MYERS SQUIBB” Problem Definition This case is a real world scenario about the survival of two giants of the pharmaceutical industry at stake. The problem is non- professional negations process and the focusing on Win-Win which at end resulted in acting unethically and this caused a disagreement through which Bristol Mayers and Apotex perceive a threat to their needs, interests

Negotiation Strategy

1448 words - 6 pages Negotiation Strategy Article Paul Swain MGT/445 May 1, 2012 Kevin Maevers University of Phoenix Negotiation Strategy Article Analysis Globalization of business through technology, such as e-mail, Skype, and cell phones evolves the way people negotiate. Electronic negotiations becomes effective when each party live in different countries or states. Study show electronic negotiations either cost organizations’ money, loss of

Trust

3639 words - 15 pages -called "5 and 5 power"), the trustee can have the discretion to distribute principal to the surviving spouse for specified purposes. This type of trust is also referred to as a "By-Pass Trust" because the assets placed in this trust effectively by-pass the surviving spouse for federal estate tax purposes. Some people also refer to this type of trust as a "Family Trust" in order to distinguish it from a "Marital Trust," which is established for the

Related Essays

Mgt 557 Final Exam (Latest) Assignment

1781 words - 8 pages coalitions, and temporary coalitions 15) What is the result of procedural complexity in multiparty negotiations? A. The fewer the number of parties, the more complex the decision-making process becomes. B. The increased number of negotiators will streamline the decision-making process. C. Negotiators can ignore the problem of multiple related issues. D. Negotiators will probably have to devote discussion time to how they will manage the process to

Mgt 557 Final Exam (Latest) Assignment

1781 words - 8 pages coalitions, and temporary coalitions 15) What is the result of procedural complexity in multiparty negotiations? A. The fewer the number of parties, the more complex the decision-making process becomes. B. The increased number of negotiators will streamline the decision-making process. C. Negotiators can ignore the problem of multiple related issues. D. Negotiators will probably have to devote discussion time to how they will manage the process to

Multiparty Cotracts In E Business Essay

4713 words - 19 pages such negative influences in future. 2.3.3 Pauline Ratnasingham and Kuldeep Kumar (2000) had tried to develop conceptual model to examine the impact of trading partner trust in e-commerce participation. One of the major factors for the e-commerce participation is the TRADING PARTNERS TRUST. There are 5 theories, which explains different factor affecting trust of trading partner. First theory is trust in business relationship theory, which says on

Ethical Challenges For Negotiators Essay

1472 words - 6 pages effect from being unethical which is called “reputation effect”. The “reputation effect” makes negotiators fear and refuse to act in unethical behavior. It is obvious that parties who take part in negotiations must be willing to negotiate with someone whom they trust. Trusting relationship can create numerous agreements while unethical behavior may formulate only one. A counterpart, who found that the other parties use deception or fraud in