1. What is your thinking style preference form – monarchic, hierarchic, oligarchic, and anarchic – and what is your thinking style scope – internal, external?
According to the Journal of Technology and Science Education (2018), there are three styles of thinking have been introduced by Sternberg Wagner such as legislative, executive and judicial. Each category of style will be explained below:
A student, who is legislatively oriented, has a fondness of the tasks, projects and situations. The students are mainly creative, informative and strategic. This type of thinking enables the students for planning the ideas and the students know what do and how to do it.
The students who are executively oriented are usually provided with structure and predilection of tasks and structure of the tasks. These students prefer to be guided what to be done by them and the rules in their work can be modified with time.
Judicially oriented students are mainly evaluative and they can evaluate the situation even with the minimal information in the situation (Files.eric.ed.gov., 2019).
Mental self government has four different forms in the theory of Sternberg and Wagner such as monarchic, hierarchic, oligarchic and anarchic.
These types of individuals are single-minded and these people do not focus on multiple things at a time. It makes them more perfect and effective towards their jobs.
The hierarchic people do multiple tasks at the same time and a hierarchy of goals can be fulfilled by them. Differential priorities can be done by them and these people can adapt many strategies at the same time and they are able prioritise their tasks according to the importance of the work.
These people are more eligible at the time of high competitive demand and able to do multiple things within given deadline (Sternberg, 2019). Situations of roughly equal priority are easy to adapt by this people. Oligarchic people are unable to deliver things of different priorities.
Students who anarchically oriented are generally unsystematic and keep a random approach for solving the given problems to them. The systems opted by them are generally difficult to understand by the other people.
Sternberg-Wagner has given some scopes for mental-self government and the scopes are internal and external. The scopes will be explained below:
The people with internal scope generally prefer to work alone and introvert by nature. These people generally feel uncomfortable in groups and perform best in the situation where they can work independently.
These people are generally extroverts and easy to interact with people. These people can work their best in groups and the leadership skills are more prominent in these people.
2. Are your thinking style preferences – form and scope – optimal for conducting this negotiation?
This negotiation needs proper written communication skill as it needs to be communicated thorough mail. One negotiation is being handled at one time and here the parties will decide themselves what to say to the other party.
In this situation the styles will be used is legislative. Monarchic form is most suitable in this case and external scope will be needed. As this negotiation needs to be interactive, the scope will be external (Europarc.org., 2019). I have the optimal style and form of thinking to perform best in this negotiation. In order to give optimum level of performance, I need to improve the scope as I am from the category of internal scope.
3. What adjustments (if any) could you make to adapt to a more optimal thinking style for this negotiation?
I need to improve my scope from internal to external. This negotiation needs to have external people as it consists of an active interaction with the other party and adjusting the scope from internal to external will help me to perform best in this negotiation.
4. What is your client’s BATNA? What is your client’s reservation value?
The reservation value of my client is $7.65 million. BATNA of my client is to find another property in somewhere else from which Melbourne will be nearer. Client can choose a different property in some other location which might be a bit far from Melbourne but in lower price. On the other hand, the client can go for more expensive and nearer property for high convenience.
5. What is the other party’s BATNA? What is the other party’s reservation value?
The other party’s reservation value if $8 million. BATNA of other party is to find another client who will be ready to pay more than this client for this property. The property is a good one and located 35 minutes away to Melbourne CBD and the location has nine shops and this property is in high demand also because of the location.
6. What is the ZOPA range? What is your strategy for claiming the greater proportion of the ZOPA?
The Zone of possible agreement for this agreement is $7.8 million from the other party. A greater proportion of ZOPA can be claimed by showing the location of the property to client and the convenience of location needs to be stated to the client in order to do this. The property is just 35 minutes away from Melbourne and the demand of client is to find a commercial property near Melbourne but not in Melbourne. The location of the property will be highly convenient for the client and the possibility is that client will understand the value of this property by seeing it.
1. Enter negotiations with your counterpart for the sale and purchase of the commercial asset.
The negotiation has been started from Kevin and he has approached the client about a commercial property at 14swan Road, Melbourne. After the approaching, client has replied to Kevin about his interest in the commercial land and asked more about the property. After this reply, Kevin has replied to the client by providing details of the property. The property is situated at Melbourne and it has nine shops near the location. The situation is totally convenient for commercial purpose and it has another offer from Charlotte Property Limited. Then the client has asked about the price. Kevin replied to the client about the price of the property and the price is $8 million that can be negotiated up to +/- 10%. Then client has quoted the property by $7.65 million. At last Kevin has replied that the property cannot be sold below $7.8 million as the location of the property is highly convenient to commercial purpose having different convenience in the location.
2. Provide a communications log that captures the date, method, items discussed, and outcomes of each communication
Email: [Your email address]
By email: [email@example.com]
Chief Executive Officer
RE: NEGOTIATION FOR PURCHASE OF 14 SWAN ROAD, MELBOURNE
As per our conversation I am writing this e-mail to you. You have quoted $7.65 million for the property but the property cannot be sold below $7.8 million. The property has various advantages that you might not get in any other property within this range of price.
Location is the primary advantage of this property and the property is located at the heart of Melbourne and just 35 minutes drive from the city centre of the city. This area has a good balance of crowd as the people come to visit city centre comes to this place often. On the other hand being so near to the city centre the existing shops of this place are very popular to people. This location is easy to reach from any place in Melbourne.
Transportation is another advantage of this location as metro connectivity and other public transportations are available within walking distance from this place. As a commercial property transportation is highly important and this property is enriched with several transportation facilities.
Good neighbour and locality are other important parts for a good commercial property and it is helpful for the owner to get the business done easily. In this property the tenants are very good and this place is free from unnecessary chaos. Being a metropolitan city the prices of properties are very high in this and if you go for other property in this city, the price will be higher or these facilities might not be available at that property.
As you have stated your choice, I feel this property will be best for your choice. I am hereby requesting you to see the property once and if you do not like this property, we can go for some other properties available with me.
Europarc.org., 2019. [online] Available at: https://www.europarc.org/communication-skills/pdf/Negotiation%20Skills.pdf [Accessed 30 Aug. 2019].
Files.eric.ed.gov., 2019. [online] Available at: https://files.eric.ed.gov/fulltext/EJ1186137.pdf [Accessed 30 Aug. 2019].
Sternberg, R.J., 2019. WISDOM, FOOLISHNESS, AND TOXICITY IN LEADERSHIP. Leader Thinking Skills: Capacities for Contemporary Leadership, p.362 from: https://books.google.co.in/books?hl=en&lr=&id=ajSoDwAAQBAJ&oi=fnd&pg=PA362&dq=+Sternberg-Wagner&ots=lqxZKyBzGS&sig=h3bPjNq0c0H_YJULKkVLSV_zioY#v=onepage&q=Sternberg-Wagner&f=false.
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