Reference no: EM133054399

Using the 'NEGOTIATOR'S TOOLKIT'  used in class outline how the following negotiation could be conducted from both perspectives: 

Scenario: In a small tech company, workers want to copy other companies in their local area who are trialling the idea of working a 4-day week instead of 5 days. The trade union has asked to have a meeting with the Human Resources department. They are not prepared to accept less pay but are willing to give up some of their annual holiday allocation. The management of the company are opposed to the idea but could be convinced if they see that it is financially beneficial and/or will not affect productivity. 

How could this negotiation be conducted so that this results in a 'win-win' scenario? What could be the potential for a 'win-lose' scenario and how could this be avoided? Explain with reference to the examples, theories and concepts you have discussed in class.

Negotiator's toolkit

Pre-planning

• Who are the parties involved?
• Who is involved that may not be directly involved?
• Is anyone being left out of the negotiation?
• What structure of negotiation should be used?

Differences

• What are the conflicts of interest?
• What do both sides ideally want?
• What would be their ZOPA?
• What is their BATNA?
• Who needs who the most?

Trust

• How should the negotiations be handled?
• How can trust be developed?
• What creative solutions could be used?

Closing

• What possible deals are there?
• What would the best deal (win-win) look like?
• Could a further deal be done later?