Answer the following questions: (100-150 words each)
Reference: Lewicki, R., Saunders, D., Barry, B. Negotiation.
Explain the Four Fundamentals types of Relationships including communal sharing, authority ranking, equality matching, and market pricing.
How People Communicate in Negotiation?
What is communication during negotiation?
Give an example when men and women treated differently in negotiation.
What are the fundamental aspects of the negotiation process?
Have you ever been involved in a negotiation whether in your personal life or in an organization? What aspects of the negotiation process were evident when you were involved in a negotiation?
What are the benefits, costs, and risks involved with negotiations?
Read this negotiation situation:
On October 30, 2013 the Walt Disney Company made a surprise announcement that it was acquiring Lucasfilm, home of the immensely successful Star Wars brand, from its founder, George Lucas, for $4.05 billion, split evenly between stock and cash. Lucas was the sole shareholder in his company.
The acquisition bolstered Disney’s status as a leader in animation and superhero films and gave it the opportunity to reap huge earnings from the already lucrative Star Wars media and merchandising empire. Disney promised to begin producing and releasing new films in the Star Wars franchise every two or three years. The acquisition even included a detailed script treatment for the next three Star Wars films.
The 68-year old Lucas decided to sell his company after beginning to plan his retirement several years ago. According to Walt Disney Chairman Robert Iger, a famous negotiator in Hollywood, he and Lucas conducted the negotiations personally, beginning in early 2011. Speaking of Lucas’ decision to hand over his creative legacy to Disney, Iger told the New York Times, “There was a lot of trust there.”
What are your observations about what the parties may have offered in the process? What role does trust pay in a negotiation?