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Management – Negotiating in Business

Virtual Victoria is a real estate negotiation among four parties: buyer, buyer agent, seller, and seller agent. Through this exercise, we will also explore how…

Virtual Victoria is a real estate negotiation among four parties: buyer, buyer agent, seller, and seller agent. Through this exercise, we will also explore how the new world of information technology affects negotiations. You will be assigned to play the role of buyer.
To prepare for your “role” (buyer), you will need to read the confidential information about your role attached.
This is an individual assignment. Please read your role confidential information and prepare for a planning document. The planning document must be completed before you conduct the mock negotiation with your partner.
Your Planning Document should cover the following:
(1) Issues to be negotiated;
(2) Your position and interests on each of the negotiation issues;
(3) The priority of each of negotiation issues;
(4) Your BATNA and Reservation  Point;
(5) Your Target Point;
(6) Your sources of power and negotiation strategies;
(7) Your best estimate of your negotiation opponent’s position, interests, BATNA, reservation point etc.

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