Description
Prepare a 3–4 page paper (include a cover page) identifying the following items as they pertain to a negotiation in the case study between Randall and Dolan. Be sure to incorporate course concepts in your answers.
- Identify guidelines that you should follow during the negotiation. Be specific!
- Identify and describe the steps of the negotiation process.
- Identify and apply guidelines that will enable you to facilitate effective communication during the negotiation.
- Identify and justify the types of questions that you should ask during the negotiation.
- Identify the characteristics of the negotiation styles present.
- Identify and apply the guidelines that you should follow when this negotiation becomes challenging.
Explanation & Answer
Hi, Find attached the completed work.Feel Free to ask for any clarification and editing if need be.Looking forward to working with you in future.Thank you
Attached.
Running head: CMIC
CMIC – Case Study
Student’s Name
Professor’s Name
Course Title
Date
CMIC
2
Negotiations take place in business every day, they range from the simple ones like
selecting a time and place for a meeting to the more important such as determining how to
approach a big contract. People involved in business require skills negotiation tactics and
understanding effective communication during the process of negotiation. It is important that
both parties, Capital Mortgage Insurance Corporation (CMIC) and Corporate Transfer Services
(CTS), fully understand the issue at hand and enter the negotiation having a clear idea of what
they are dealing with and what exactly both the parties would gain from it. The companies
should give each other enough time to present their sides of the case. In this case, CMI’s
president, Frank Randal, and the senior vice president and treasurer Jim Dolan, intend to
successfully complete the acquisition of CTS. For CMIC to accomplish this acquisition, they
should focus on understanding the interest of CTS and lay their focus on its interests rather than
its position. CMIC should then be willing to listen actively to CTS’s concerns and thereafter
explore other options available so that the agreement is fulfilled. Both companies should also
insist on standards so that the negotiation is quite effective and does not compromise any
standards (Lewicki et al, 2011).
The negotiation process usually is effective when a procedure is followed; this ensures
that there i...
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