University of Greenwich ID Number: 0001340153

FPT Student ID Number: GBD191365

Module Code: BUSI1632

Module Assessment Title: NegoKaKon

Lecturer Name: Vo Cong Nghia

Submission Date:
Table of Contents

I. Introduc*on ..................................................................................................................... 1
II. Simula*on 1: Real Estate ................................................................................................. 1
III. S*mula*on 2: The Glasstonbury Fes*val ...................................................................... 3
IV. S*mula*on 3: The Rail Dispute ..................................................................................... 4
V. Conclusion ....................................................................................................................... 5
 I. Introduc*on
In the Nego*a*on course, I will be required to engage in three different simula*on exercises. The
first task, *tled "Buying Land on Park Row," requires students to nego*ate the acquisi*on of a
difficult piece of property. The second experiment, "Glasstonbury Fes*val," involved talks for the
produc*on of a large-scale music event. Finally, in "Railway Dispute," I represented the railway
firm and led a nego*a*on aimed at seLling problems among railway personnel. Each ac*vity
included cri*cal evalua*on, which allowed me to apply nego*a*on principles and methods while
also reflec*ng on their experiences and prac*ces. These simula*ons give students with excellent
chances to assess their interests, employ various tac*cs, handle ethical issues, and reflect on
outcomes.

II. Simula*on 1: Real Estate

Distribu(ve bargaining entails equitably alloca*ng finite resources while maximising benefits for
one side and reducing them for the other. Strategies include sugges*ng beginning pricing,
expressing specific requests, and applying pressure to achieve a favourable conclusion. Key
considera*ons include each party's viewpoint, concessions, commitment, and finding the best
solu*on (BATNA) (Donohue & Roberto , 1996).

Integra(ve nego(a(on seeks to produce value and reach mutually beneficial solu*ons. It
priori*ses iden*fying shared interests, encouraging open communica*on, and emphasising
similari*es rather than differences. The process entails defining concerns, determining each
party's interests, developing solu*ons, and assessing alterna*ves. This technique relies on both
value genera*on and claims (BeneY, et al., 2021).

Reflec(ons on the "Park Row Land" Nego(a(on Simula(on:

What?

The "Park Row Land" nego*a*on simula*on involves the acquisi*on of a small piece of land next
to the buyer's property. The main issue that must be seLled is establishing an acceptable land
price between the par*es. The buyer's goal is to purchase the land at the lowest feasible price,
whereas the seller's interest is to sell the land at the highest possible price.

So what?

During the transac*on, the Buyers, Phat and My, proposed a price of £20,000, which was deemed
too low by the Sellers, Khanh and Long. Long makes it plain that if the buyer insists on paying
£20,000, they would not provide further services such as cleaning or remodelling the house.
However, if the Buyer accepts the £60,000 price, the Seller will provide a comprehensive package
that includes repairing and extending the land to benefit the buyer's residence.

Furthermore, Khanh and Long adopt the Snowball method, presen*ng a wealth of relevant
informa*on to build a sense of aLrac*on to the area. Despite the limits of modest scale and
posi*on at the back of the neighbourhood, the loca*on is always behind Phat and My's house, so
it is a clear benefit for these two individuals to purchase land 33 Park. This row. In addi*on, we
incorporate Virtue Ethical Theory into the discussions. This idea emphasises the dignity and moral
traits of nego*ators. It encourages virtues and posi*ve aLributes like honesty, sincerity, fairness,
and compassion. Nego*ators are urged to cul*vate these characteris*cs in order to promote
ethics in the nego*a*ng process. Highlight Phat and My's ambi*on to purchase this property.
However, the nego*a*on is influenced by individual differences and the rela*onship between the
buyer and the seller. The buyer's interest lies in expanding their property, while the seller's desire
is to maximize the predetermined selling price, shaping their respec*ve posi*ons and strategies.
The Seller's use of Ethical Conduct has evoked a sense of priority and trust from the buyer's
neighbor, which may influence the buyer's decision to seLle at £60,000.

What is next?

In terms of successes, Khanh and Long effec*vely u*lized the Snowball strategy by presen*ng
compelling informa*on regarding the land's poten*al benefits, despite its limita*ons.
Addi*onally, the applica*on of Virtue Ethics played a crucial role in fostering trust and rapport
with the buyers. Ul*mately, the nego*a*ons concluded with an agreement at a price of £60,000,
falling within Phat and My's acceptable range. However, it is important to acknowledge that the
ini*al offer of £20,000 from the buyers was deemed too low by the sellers, indica*ng a poten*al
misjudgment of the sellers' resistance point. In future nego*a*ons, conduc*ng more
comprehensive explora*on to beLer grasp the sellers' posi*on and resistance points before
proposing an ini*al offer would be advisable.

Reflec(ng on this nego(a(on experience, what went well: Together with my colleague Khanh, I
successfully applied the Snowball method, persuading Phat and My of the land's advantages and
u*lising virtue ethics to foster trust. Nego*a*ons led to an agreement at a price of £60,000, which
was within the buyer's acceptable range. Areas for improvement: The seller deemed the Phat
and My original offer of £20,000 to be too low, sugges*ng a poten*al miscalcula*on of the seller's
resistance threshold. Before making the ini*al offer, further inves*ga*on may have been done to
beLer grasp the seller's posi*on and resistance point. Next steps: To improve future nego*a*ons,
the buyer (Phat và My) should probe the seller to beLer grasp their posi*on and resistance points.
Addi*onal nego*a*ng methods, such as producing value through trade-offs or alterna*ve
solu*ons, may be useful. Developing greater communica*on and rapport-building abili*es can
aid in the forma*on of beLer connec*ons with colleagues.

III. S*mula*on 2: The Glasstonbury Fes*val

Nego(a(on and Reflec(on

What?

The crux of the bargain is geYng rising star Sai to play at the Glastonbury Fes*val. Finding a
performance fee and other agreements that work for both sides is the main challenge. My
objec*ve as the fes*val's organizer is to safeguard Sai's performance while op*mizing its
advantages. On the other hand, given Sai's growing prominence in the music business, Khánh
Dung, her representa*ve, hopes to secure favorable condi*ons for Sai's involvement.

So what?

In this nego*a*on, I took a collabora*ve approach, emphasizing the benefits that Sai would gain
from par*cipa*ng in the fes*val. I highlighted how performing at Glastonbury could provide
exposure and career opportuni*es for Sai, which helped jus*fy the rela*vely high-performance
fee of £150,000. However, I also acknowledged the limita*ons, such as the shared dressing room
and lack of ameni*es, which were necessary to balance the budget and accommodate other
fes*val arrangements. Ethical concerns arose regarding the fairness of the terms offered to Sai,
considering her growing popularity and poten*al contribu*on to the fes*val's success. However,
by emphasizing the long-term benefits for Sai's career and the extensive exposure provided by
the fes*val, I aimed to jus*fy the nego*ated terms as a valuable opportunity for her. The
nego*a*on dynamics were influenced by individual differences, such as age and experience. Sai's
young age and emerging status in the music industry influenced her representa*ve's nego*a*on
stance, seeking favorable terms to support her burgeoning career. Meanwhile, as the fes*val
organizer, my focus was on securing talent that would enhance the fes*val's reputa*on and
aLract aLendees. The rela*onship with Sai's representa*ve, Khánh Dung, played a crucial role in
shaping the nego*a*on. Maintaining open communica*on and understanding each other's
interests helped foster a construc*ve dialogue and ul*mately led to reaching a mutually beneficial
agreement.

What next?

Despite our ini*al reserva*ons regarding the performance fee and other condi*ons, the
nego*a*on went well overall, and we were able to get Sai to par*cipate in the event. However
striking a balance between Sai's needs and the fes*val's financial and opera*onal restraints
proved difficult. In the event that we nego*ate again, my goal would be to expedite the process
by an*cipa*ng possible issues and coming up with innova*ve ways to accomplish our goals faster
for both sides. In order to enable future discussions that go more smoothly, I would also con*nue
to place a high priority on developing strong connec*ons with ar*sts and their representa*ves.

IV. S1mula1on 3: The Rail Dispute

What?

The nego*a*on depicted centered around resolving the nega*ve impact of the government's
proposed reforms on railway workers, as represented by Phi Long, the General Secretary, and the
Railway Consor*um, represented by Thanh Hop. The nego*a*on aimed to resolve major
concerns such as job security, fair compensa*on, and preserving adequate working condi*ons for
railway workers in the face of the government's reform push. These reforms include probable
layoffs and changes to working condi*ons, which will provide considerable issues for both par*es.

So what?

Phi Long used a strategic approach to nego*ate, aiming for a win-win outcome. He provided
solu*ons to both par*es' concerns, emphasizing the significance of job security and fair
compensa*on for railway employees. However, ethical concerns arose about the proposed
altera*ons' possible influence on workers' lives and well-being. Individual differences, such as Phi
Long and Thanh Hop's contras*ng priori*es and perspec*ves, also influenced the nego*a*on
dynamics. Despite these hurdles, Phi Long and Thanh Hop's established friendship allowed for
open communica*on and mutual understanding, which contributed to construc*ve debate and
final agreement.

What next?

The nego*a*ons resulted in a posi*ve outcome, with the Railway Associa*on agreeing to a
redundancy agreement of up to 8%. They also agreed to reduce staff through aLri*on if there
was mutual consent to decrease staffing levels, primarily focusing on Sunday off as part of the
agreement. In exchange, there would be compensa*on with a raised over*me rate of 1.5%, an
extension of annual leave to 35 days, and a fixed call-in fee ranging from £100 to £119. Reflec*ng
on the nego*a*on process, it's evident that effec*ve collabora*on and communica*on played
crucial roles in achieving a mutually beneficial agreement. Looking ahead, it's essen*al for Phi
Long to maintain a focus on coopera*ve problem-solving and nurturing posi*ve rela*onships to
tackle future challenges effec*vely. Furthermore, con*nual monitoring and adapta*on to
evolving circumstances will be key to ensuring the long-term success of the nego*ated
agreement.

V. Conclusion
In conclusion, the three simula*ons have provided a comprehensive understanding of nego*a*on
principles and dynamics in various real-world scenarios.
The first simula*on, "Park Row Land Purchase," highlighted the importance of prepara*on,
adaptability, and ethical considera*ons in nego*a*ons. It emphasized the need to iden*fy
interests, navigate individual differences, and strive for mutually beneficial agreements.
Simula*on 2 demonstrated the significance of collabora*on, open communica*on, and
rela*onship-building in achieving successful nego*a*on outcomes. It underscored the
importance of transparency and fairness in addressing concerns and maintaining trust
throughout the nego*a*on process. Lastly, the nego*a*on between Phi Long and Thanh Hop
concerning railway worker's issues emphasized the importance of applying nego*a*on strategies
to address complex workplace and labor-related challenges. The outcome showcased how ethical
considera*ons and understanding individual differences contribute to craling agreements that
benefit all par*es involved.

Overall, these simula*ons have provided valuable insights into nego*a*on dynamics and
strategies, emphasizing the importance of prepara*on, communica*on, rela*onship-building,
and ethical considera*ons. Moving forward, applying these principles will be essen*al in
naviga*ng future nego*a*on scenarios effec*vely and achieving mutually sa*sfactory outcomes.