University Business Law: Negotiation Role Play and Summary Report

This report presents an analysis of a negotiation role-play scenario focused on the sale of a commercial property. The student, acting as a negotiator, explores various thinking styles, including monarchic, oligarchic, anarchic, and hierarchic, ultimately adopting an anarchic style with an external scope for the role-play. The report details the negotiation process, including strategies, the identification of the Best Alternative To a Negotiated Agreement (BATNA) for both parties, and the determination of the Zone of Possible Agreement (ZOPA). The student describes the negotiation conversation with the potential buyer, including initial offers, counteroffers, and the final agreement. The report highlights the importance of understanding the property's value, the buyer's objectives, and the use of BATNA and ZOPA in achieving a favorable outcome. References to relevant academic sources support the analysis of negotiation styles and strategies, providing a comprehensive overview of the negotiation process.