Negotiation Process: Walt Disney and Lucas Films Acquisition

This presentation discusses the negotiation process between Walt Disney and Lucas Films, which led to the acquisition of the latter by the former. It explores the importance of negotiation in the corporate context and the skills required for effective negotiation. The presentation also covers the stakeholders involved in the negotiation and the different phases of the negotiation process. Overall, it highlights the significance of negotiation in achieving mutual agreements and growth in the business world.

Negotiating and
Persuasion

Introduction
Negotiation can be comprehensively said to be the procedure whereby
two or more than 2 parties come together to reach to a mutual
decision for the benefit of all the parties. Negotiation process
executed in corporate context usually seeks to attain strategic or
competitive edge in market place. The presentation is based upon
business negotiation taken place between Walt Disney and Lucas
Films which resulted into the acquisition of latter by the former.

Overview of Negotiation Process
Negotiation is acknowledged to be a process
that takes place between at least two party who
face diverging attributes in terms of interest and
comprehensibility that they are associated,
search for an elective course of action targeting
at taking out their differences and accordingly
making, keeping up and building up a sound
connection amidst them.

Why negotiation occurs?
Business negotiation is frequently done with the goal of settling
purposes of contrast and to increase upper hand for individual or
aggregate significance. Additionally, it is directed to determine
effective results for the interest of those parties that are associated with
negotiation. This procedure is regularly done when one party set
forward an opinion with respect to the significance of cooperation and
afterwards offering a position and making concessions to show up at
accomplishment of mutual agreement.

Skills for Negotiation
There are different abilities that should be present in a negotiator. Effective
moderators have great listening aptitudes to hear the other party during the
discussion. Additionally, it is basic that a negotiator keeps command over
feelings as in some cases negotiation may not yield the ideal results.

Stakeholders for negotiation
Stakeholders can be referred to as the
individuals, group, organizations who
are intrigued or are straightforwardly/in
an indirect way influenced by result of
an occasion. Key stakeholders are
individuals who can fundamentally
impact or are significant for
achievement of an occasion.

Negotiation Process / Theory of Negotiation
Planning and Preparation
This stage being the foremost phase is essential to be
carried out for the effective execution of negotiation process.
Effective planning done in advance helps both the parties to
generate positive outcomes and instills a sense of confidence
within the negotiator.

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Opening Phase
This stage witnesses the face to face meeting of the
negotiating parties.
Bargaining Phase
Bargaining process encompasses closer analysis of the
aims behind coming into a negotiation agreement.

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Closure Phase
The last stage of the negotiation process demonstrates
chance for negotiating parties to leverage the planning in a
manner such that it yields positive outcomes.
Following the 4 phases, Disney was able to gain
agreement from Lucas Films to acquire it for mutual benefits
of both the companies.

Conclusion
The inference from the presentation is that negotiation is an
important process in corporate context as it seeks to provide two or
parties with an opportunity to attain growth based upon a mutual
agreement. Negotiation is a 4 staged process which helps the parties in
reaching to a situation of compromise yielding benefits to all in the
long run.

References
Horton, S., 2016. The Leader's Guide to Negotiation: How to Use
Soft Skills to Get Hard Results. Pearson UK.
Greenwood, A., 2018. Experiences with authentic assessment on
two practitioner-focused business degree programmes.
Belinsky, S. J. and Gogan, B., 2016. Throwing a change-up,
pitching a strike: An autoethnography of frame acquisition,
application, and fit in a pitch development and delivery
experience. IEEE Transactions on Professional
Communication. 59(4). pp.323-341.

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