TABLE OF CONTENT COMPONENTS GUIDELINES/ MARKING CRITERIA PAGES 1.0 TASK 1 3-18 2.0 TASK 2 19-27 3.0 References 28 4.0 Coursework 28-39 1.0 TASK 1 Negotiation is an integral part of daily life and the opportunities to negotiate surround us. While some people may look like born negotiators, negotiation is

fundamentally a skill involving analysis and communication that everyone can learn. You are required to provide 10 “best practices” for negotiators who which to continue to improve their negotiation. The 10 best practices for negotiators who wish to continue to improve their negotiation skills 1. Be prepared 2. Diagnose the fundamental structure of the negotiation 3. Identify and work the best alternative to a negotiation (BATNA) 4. Be willing to walk away 5.Master the key paradoxes of the negotiation 1) Claiming value vs. creating value: All negotiations have a value-claiming stage where parties decide who gets how much of what but also a value creation stage where parties work together to expand the resources under negotiation 2) Sticking with the strategy vs. opportunistic pursuit of new options: If the negotiators are well prepared for this, they can make a proper judgement. Page 2 of 38

3) Honest and open vs. closed and opaque: Being too open can be risky because the other party may benefit of that situation, being too close may harm the reputation 4) Trust vs. Distrust: Negotiators who believe in all what the other party says may be harmed, however, if they do not believe in anything, the agreement is nearly impossible to be reached 6. Remember the intangibles 7. Actively manage coalitions -Negotiators should recognize 3 types of coalitions and follow the appropriate strategy a-Coalitions against him b-Coalitions that support him c-Loose, undefined coalitions that may materialize both parties. 8. Savor and Protect Your Reputation 9. Protect your reputation 10. Continue to learn from your experience Page 3 of 38

Be Prepared Diagnose the Fundamental Structure of the Negotiation Work the BATNA Be Willing to walk away Master Paradoxes Remember the Intangibles Actively manage coalitions Savour and protect your reputation Remember that rationality and fairness are relative Continue to learn from the experience Be Prepared Negotiators who are better prepared have numerous advantages, including the ability to analyse the other party’s offers more effectively, to understand the nuances of the Page 4 of 38

concession-making process, and to achieve their negotiations goals. Preparation should occur before the negotiation begins so that the time spent in negotiating is more productive. Good preparation means understanding one’s own goals and interests as well as possible and being able to articulate them to the other party skilfully. It also includes being ready to understand the other’s party communication in other to find an agreement that meets the needs of both parties. Few negotiators are going to conclude successful without both party achieving at least some of their goals, and solid work up