BATNA specifically defines the resistance point that any party in the negotiation in a party decide to leave the negotiation and pursue other options.
Having a BATNA-based strategy in place is an excellent negotiation strategy is it alleviates the need to accept aspects of a deal that is not acceptable to one side or the other of a negotiation. To make this more concrete, consider the case of a person negotiating to buy a used car from a friend. From Kelly Blue Book and other secondary sources of car valuations, the friends' care is worth $5,000. The buyer decides that given the wear and tear on the car, and knowledge of the current drivers' driving habits, the car is actually worth $4,000. BATNA would then be the $4,000 that the buyer would specifically have in mind when negotiating. If the buyer did not get the car for $4,000 there would be an impasse in negotiations. It is critical for any negotiator to have a BATNA in mind before ever beginning a negotiation so there is a limit to what they will pay for the good, service or resource.
Assume that you have the following decision making options:(1) make the decision on your own with available information, (2) consult others before making a decision, and (3) call a meeting and reach a consensus, seeking to arrive at a final decision everyone can agree on. Which approach would you use to make the following decision and why?
You are the project leader for Casino Night on campus, a charitable event organized by your group to raise money for the homeless. The event was a big success, garnering a net profit of $3,500. Before the event your team researched nearby organizations that support the homeless and to whom the money could be given. You narrowed the choices to the "Chunk of Coal House" and "St. Mary's Soup Kitchen." Eventually your group decided that the funds be given to Chunk of Coal. You are about to write a check to its director when you read in the local newspaper that the Chunk of Coal House has terminated operations. What should you do with the money?
First and foremost there is the ethical consideration if the Casino Night was promoted expressly to support the Chunk of Coal House, and as a result those students who were motivated to contribute the $3,500 were thinking they were helping this charity specifically. Clearly the director of Chunk of Coal, if not transparent about the termination of operations, needs to meet with the entire team and explain what is going on with the philanthropic organization,...
Project Management: Procurement Management Plan Procurements Management All aspects of the procurement management plan will be handled in accordance to the communications matrix, and the various methods for communicating indicated in the Communications Methods and Technologies section of the Unit 1 X Price Day Club Project Initiation. As it pertains to Procurement Management aspect, the Project Management Book of Knowledge outlines a four step process for ensuring proper facilitation of the procurement
Project Management Plan of a New Restaurant This project management plan is majorly concerned primarily with the first two steps which are defining the project; the project objective is broken down into a series of manageable steps called tasks and designing the project process; this work is performed by the project manager and is presented in the GANTT chart where the tasks are displayed in more detail (Hamilton, 2004). Besides, for
Project Management in a Legal Context Project management is increasingly becoming a popular and preferred way of contending with inter-organizational ventures that are out of the ordinary. When the functions of a project require the involvement of specialized personnel and skill sets which may not be readily represented from within the company to the fullest extent demanded, it may be appropriate to organize a project team. This might be comprised of
Project Management February J. 2014 A project is a temporary group of activity designed to produce unique products and services or results. Typically, a project has a defined beginning and end and therefore having defined scope and resources. (Pierre, 2012). A project also has a specific set of operations to accomplish a singular goal. Examples of projects are as follows: Development of software to improve business process, Construction of bridge or building, Expansion of sales
Project Management Involved Formation of Airbus Project Management involved in Formation of Airbus The report investigates factors that led to the A380 project crisis. Analysis of the project revealed that Airbus did not integrate an effective project management model into the project lifecycle leading the project to be two years behind schedule, which eventually led to the costs escalations. The report reveals several lessons to be learned from the A380 project crisis.
The defining of individualized scaffolding or customized learning programs must be in the context of a curriculum broad enough to encompass the roles of project manager, business analyst and contract manager however if it is to be effective, as is shown in the DMH program (Damare, 2008). By having a unified curriculum, the weakest areas of project management can quickly to dealt with an improved as well. This specific
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