Introduction to Negotiation Strategy
At Oak Spring University, we provide corporate level professional Negotiation Strategy and other business case study solution. The Indian Greenpreneur: Management of Frenemy Talent and Coopetition case study is a Harvard Business School (HBR) case study written by Jyotsna Bhatnagar, Neha Paliwal Sharma, Nakul Gupta. The The Indian Greenpreneur: Management of Frenemy Talent and Coopetition (referred as “Ghc Frenemy” from here on) case study provides evaluation & decision scenario in field of Leadership & Managing People. It also touches upon business topics such as - negotiation strategy , negotiation framework, International business, Leadership, Organizational culture, Strategy.
Negotiation strategy solution for case study The Indian Greenpreneur: Management of Frenemy Talent and Coopetition ” provides a comprehensive framework to analyse all issues at hand and reach a unambiguous negotiated agreement. At Oak Spring University, we provide comprehensive negotiation strategies that have proven their worth both in the academic sphere and corporate world.
What’s my BATNA (Best Alternative To a Negotiated Agreement) – my walkaway option if the deal fails?
What are my most important interests, in ranked order?
What is the other side’s BATNA, and what are his interests?
During the 2013 Indian festival of colours, a young green entrepreneur and owner of Green Horizon Consulting (GHC) faced a plethora of business growth challenges. His former employee, who had quit GHC a while back to work for a major rival, wanted to return. However, the entrepreneur could not figure it out - would rehiring an ex-employee be a sound business decision? Should he take a risk and give the former employee another chance? If he did, he could look after GHC business in India, and be free to work on his plans to start a new venture in Dubai.But, his dilemma didn't end there. Being the eldest son in his family, he realized that besides the aforementioned strategies, there was also the possibility of living and working with his joint family. His father was getting old and his younger brother had joined the family business; merging the two companies (his and his father's) would allow both brothers to take care of the businesses and family between them. If that happened, he would no longer need his old frenemy. Even so, there was no doubt in his mind that relocating to Dubai would be a very lucrative move, especially as prospective clients in this region understood the language of green loud and clear. But, despite his excitement at the idea, he could not forget that there would still be all the usual (yet critical) business problems of low consumer awareness and the need to swiftly catch up to the existing competition. What other factors and options would he need to consider to keep his budding, eco-friendly company afloat and to successfully navigate the contemporary business world? Jyotsna Bhatnagar and Neha Paliwal Sharma is from Management Development Institute Gurgaon. Nakul Gupta is from Indian Institute of Management, Kashipur.
By interests, we do not mean the preconceived demands or positions that you or the other party may have, but rather the underlying needs, aims, fears, and concerns that shape what you want. Negotiation is more than getting what you want. It is not winning at all cost. Number of times Win-Win is better option that outright winning or getting what you want.
Options are the solutions you generate that could meet your and your counterpart’s interests . Often people come to negotiations with very fixed ideas and things they want to achieve. This strategy leaves unexplored options which might be even better than the one that one party wanted to achieve. So always try to provide as many options as possible during the negotiation process . The best outcome should be out of many options rather than few options.
When soft bargainers meet hard bargainers there is always the danger of soft bargainers ceding more than what is necessary. To avoid this scenario you should always focus on legitimate standards or expectations, clearly understanding the arbitrage . Standards are often external and objective measures to assess the fairness such as rules and regulations, financial values & resources , market prices etc. If the negotiated agreement is going beyond the industry norms or established standards of fairness then it is prudent to get out of the negotiation.
Every negotiators going into the negotiations should always work out the “what if” scenario. The negotiating parties in the “The Indian Greenpreneur: Management of Frenemy Talent and Coopetition” has three to four plausible scenarios. The negotiating protagonist needs to have clear idea of – what will happen if the negotiations fail. To put it in the negotiating literature – BATNA - Best Alternative to a Negotiated Agreement. If the negotiated agreement is not better than BATNA (Negotiations options), then there is no point in accepting the negotiated solution.
One of the biggest problems in implementing the negotiated agreements in corporate world is – the ambiguity in the negotiated agreement. Sometimes the negotiated agreements are not realistic or various parties interpret the outcomes based on their understanding of the situation. It is critical to do negotiations as water tight as possible so that there is less scope for ambiguity.
Many negotiators make the mistake of focusing only on the substance of the negotiation (interests, options, standards, and so on). How you communicate about that substance, however, can make all the difference. The language you use and the way that you build understanding, jointly solve problems, and together determine the process of the negotiation with your counterpart make your negotiation more efficient, yield clear agreements that each party understands, and help you build better relationships.
Another critical factor in the success of your negotiation is how you manage your relationship with your counterpart and other people doing the mediation. According to “Jyotsna Bhatnagar, Neha Paliwal Sharma, Nakul Gupta”, the protagonist may want to establish a new connection or repair a damaged one; in any case, you want to build a strong working relationship built on mutual respect, well-established trust, and a side-by-side problem- solving approach.
According to
Harvard Business Review
, there are three types of negotiators – Hard Bargainers, Soft Bargainers, and Principled Bargainers.
Hard Bargainers – These people see negotiations as an activity that they need to win. They are less focused less on the real objectives of the negotiations but more on winning. In the “The Indian Greenpreneur: Management of Frenemy Talent and Coopetition ”, do you think a hard bargaining strategy will deliver desired results? Hard bargainers are easy to negotiate with as they often have a very
predictable strategy
Soft Bargainers – These people are focused on relationship rather than hard outcomes of the negotiations. It doesn’t mean they are pushovers. These negotiators often scribe to long term relationship rather than immediate bargain.
Principled Bargainers – As explained in the seven elemental tools of negotiations above, these negotiators are more concern about the standards and norms of fairness. They often have inclusive approach to negotiations and like to work on numerous solutions that can improve the BATNA of both parties.
Open lines of communication between parties in the case study “The Indian Greenpreneur: Management of Frenemy Talent and Coopetition” can make for an effective negotiation strategy and will make it easier to negotiate with this party the next time as well.
Jyotsna Bhatnagar, Neha Paliwal Sharma, Nakul Gupta (2018), "The Indian Greenpreneur: Management of Frenemy Talent and Coopetition Harvard Business Review Case Study. Published by HBR Publications.
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