You are a Contract Manager (CM) for Company A (Seller) preparing to negotiate with your counterpart at Company B (Buyer). As background, you know the following information:
Your team will include you, a Project Manager (PM), Sales Manager (SM), and a senior member representing your Finance Department.
This is the first time you are negotiating with your counterpart.
Company B represents a book of business valued at approximately $50 Million across 10 contracts.
The contract you are negotiating is has an approximate value of $5 Million.
Company A is aggressively pursuing new business opportunities.
Company B has a reputation for utilizing a win-lose negotiation strategy and has a rigid hierarchy, requiring approvals for deviations from their standard T’s & C’s.
Garrett, Table 9-1, Key Contract Negotiation Activities.pdf
Using Table 9-1, select two (2) of the activities listed under the “Planning the Negotiation†column (items 1-9) and discuss why you are interested these activities and and how you think they would improve your negotiation.
Reference Articles: (URL’s)
– https://www.nolo.com/legal-encyclopedia/contract-negotiation-basics-33337.html
– https://www.nolo.com/legal-encyclopedia/contract-negotiation-11-strategies-33340.html
– https://hbr.org/2020/07/whats-your-negotiation-strategy
– https://www.pon.harvard.edu/shop/search/products/
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