COLLECTIVE BARGAINING AND NEGOTIATION

GROUP REFLECTION PAPER

GROUP MEMBERS

Deepti Yadav – 2022PGPH007

Rohini Guha – 2022PGPH022
Shilpa Lalwani – 2022PGPH026
Sukanya Menon – 2022PGPH031

Submitted to:

Prof. Mit Vachhrajani

August 3, 2023
 Reflection Paper: Key Takeaways from Negotiation Class

Our negotiation class has been an enlightening experience, providing us with valuable insights and
practical strategies to become more effective negotiators. As a group, we have identified several key
takeaways that have significantly enhanced our understanding and approach to negotiations:

1. One of the fundamental aspects we learned was the importance of preparation and
research. By investing time in gathering relevant data and understanding the industry and
market trends, we gained a competitive advantage during negotiations.

2. Writing down calculations and important points on paper before the negotiation
helped ensure that crucial information was not forgotten, even in the event of interruptions.

3. Another crucial lesson was the significance of setting clear limits before entering a
negotiation. Knowing our Must-Haves, Trade-Aways, and Give-Aways in multi-issue
negotiations enabled us to remain focused and make well-informed decisions throughout the
process.

4. We also emphasized the need to understand our Best Alternative to a Negotiated

Agreement (BATNA) and establish a higher walk-away price than our BATNA to strengthen
our negotiation position.

5. Understanding power dynamics was another valuable takeaway. By identifying the

strengths and weaknesses of all parties involved, we could develop effective strategies and
leverage the situation to achieve our desired outcomes.

6. Throughout the course, we explored various conflict-handling approaches and the

significance of finding a sweet spot between low and highballing. Striking a balance
ensured that extreme quotations did not drive the other party away, promoting a more
collaborative negotiation atmosphere.

7. A valuable lesson we learned through a real-life example was to avoid revealing all our cards
at once. Keeping some data to ourselves and strategically revealing information at the
right time provided us with greater control over the negotiation process.

8. In addition to these insights, the class delved into the importance of confidence and
adaptability during negotiations. Developing self-confidence in our negotiation skills and
 the ability to think on our feet allowed us to present our case persuasively and respond
effectively to unexpected developments.

9. Understanding the implications of making the first move or quote was another
essential aspect of the class. We learned that the first move sets the tone for the negotiation
and conveys vital information to the other party, requiring careful consideration before taking
action.

10. Recognizing the balance between maintaining relationships and achieving

negotiation goals was emphasized as well. Striving for win-win solutions while preserving
relationships was crucial, and compromising was considered the least favorable strategy.

11. Moreover, we learned to recognize hidden opportunities for mutual gain by reading
between the lines and uncovering underlying interests and motivations beyond stated
positions.

In conclusion, our negotiation class provided us with valuable tools and strategies to approach
negotiations more effectively. The importance of preparation, setting limits, understanding power
dynamics, and maintaining a balanced approach between relationships and goal achievement
were key takeaways.