Rock-N-Roll Negotiator: Multi-Party Negotiation

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Table of Contents

Introduction
Pre-Negotiation, Formal –Negotiation, and Agreement Stage
Strategies Used to Manage Negotiations
Role of Coalitions in Negotiations
Conclusion
References

Introduction

This paper seeks to discuss the multi-party negotiations concerning the case of Rock and Roll Negotiator. In this case, the contracts of Bobby Singer and The Constituencies with Rock and Roll Label expire this year. To gain strength, the two clients need to have agents, and Agentville and Agentopoly have been contracted. In any multi-party negotiation, the negotiators will go through three relevant stages before making a contract. The first section of this paper will discuss the three steps of multi-party negotiation: pre-negotiation, formal negotiation, and agreement stage. The following section will explore the different strategies applicable in multi-party negotiation with a major focus on the win-win strategy. Finally, the paper will establish the role of coalitions in multi-party negotiations.

Pre-Negotiation, Formal –Negotiation, and Agreement Stage

The first stage for any multi-party negotiation is the pre-negotiation stage, which comprises of two levels- assessment and preparation. Assessment involves establishing whether the conditions are ripe for negotiations. Under the assessment stage, the person in charge seeks to know whether to proceed with the negotiations or not. If the conditions are conducive for the negotiations, then the assessment stage will be responsible for laying the groundwork for deciding how to proceed with the collaborative process. Here, the role of the negotiator is to ensure that the party does not feel uncompetitive for the process. In regards to the above case, the agents must portray their clients- Singer and Constituencies very competitive for a new contract. In this case, the early stages of the negotiation process should have terms that will see Singer’s money increase by 15%. The agents will have the duty of asking questions regarding their clients’ interests and alternatives, providing background information on the matter, and finally gauging the potential for the agreement. On the other hand, preparation involves the acquisition of necessary knowledge, skills, and resources to allow the relevant party to negotiate on an equal footing with each other. Preparation is an essential step in the pre-negotiation stage, as each participant needs to equip himself with relevant information before deciding to enter the negotiation process (Lewicki, Barry & Saunders, 2010).

Formal Negotiation comes after the pre-negotiation stage, and it will involve the broader principles of negotiation. These will comprise matters that will be responsible for the beginning of the negotiation process and the appropriate style or method of negotiation. The formal part of the negotiation will also involve the creation of the rules and guidelines of the participants. At this stage, R n R will negotiate the terms of the two artists and the agents will look out for the R n R reactions to these terms. In the event of a coalition, there will be similar terms and conditions in the formal agreement, which will cover the common interests of all individuals. Finally, we have the agreement stage of multiparty negotiation that will see the sealing of the deal. The agreement stage calls for the creation of drafts for the agreed terms and conditions and then handing it out to the clients. Once the clients approve the contents of the draft, the deal will be sealed, and the concerned parties will have a contract. In the event, the clients are not contented with the terms and conditions then it will call for a new negotiation process because R n R in this case stands to lose their most profitable clients- Singer and Constituencies (Lewicki, Barry & Saunders, 2010).

Strategies Used to Manage Negotiations

Negotiation strategy calls for a strategy that will see both Singer and The Constituencies achieve their goals and sign new contracts with R n R. The first useful strategy is building the negotiation strategy that brings together all the clients- Singer and Constituencies to fight for one goal. The focus of this strategy is to win, and it will involve planning and implementing. This strategy also has bottom lines and targets which if not met then will call off the whole negotiation process. The win-win strategy evaluates the negotiation outcome and in the event, it does not seem achievable, then there will be no deal. Advanced negotiation strategy seeks to find a mutual ground for the two parties that will see that they both gain from the contract. The agents will seek to unify the needs of their clients to have a common goal. This strategy equally employs planning and implementation steps that will be through a negotiation team- the agents. In this case, for the contract to be lucrative there will be incentives offered by the relevant parties while at the same time managing agent’s ethics. A replication with principals and agents will lead to a successful deal and hence the signing of the contract. On the other hand, we have a cross-cultural negotiations strategy. Cultures affect negotiation contexts and the negotiator’s interests and strategies. In this strategy, proper communication and confrontation of inter cultures will ensure the client’s needs are met, and the contracts become efficient. In most cases, a win-win strategy is applicable in most contracts because this leads to both or more parties benefitting their clients. More so, a win-win strategy helps the parties to stick together to meet the clients’ needs and demands (Guasco & Robinson, 2007).

Role of Coalitions in Negotiations

Coalition refers to the coming together of individuals and groups intending to attain a similar goal in the contract. The above case of Bobby and The Constituencies saw the coming together of their Agents to increase their negotiating power. Coalitions are responsible for increasing the power of the negotiators, and the coming together of participants in multi-party negotiations increases pressure on the other party- R n R Label. This pressure in turn leads to better deals from the negotiation process such as the two artists getting their money increases. When several parties come together in any negotiation process, then coalitions will ensure that there is adherence to the terms and conditions that will be beneficial to the parties. Another important role of coalitions in negotiations is to increase their power. When two or more groups or individuals come together in pursuit of a given goal, then they will have more power to make negotiations for the contracts. Coalitions bring people together with different individual differences that also increase the bargaining power in the negotiation process.

Negotiation is a social encounter that makes use of cognition, perception, and emotion. For this reason, coalitions will help increase the perceptions and cognition of the individual participants. Negotiators approach different negotiation processes with different perceptions and, therefore, when two or more individuals or groups come together, then their perception will be high. On the other hand, coalitions help minimize emotions in negotiations. Dealing with similar situations with others, several people helps individuals to have little or no emotions that come with the negotiation process.

Conclusion

Following the above stages of negotiation will ensure that Singer and Constituencies sign new contracts with R n R Label. Multi-party negotiation is a demanding process that requires several inputs from the participants. For an effective and successful process, multi-party negotiations will have to go through the three stages of pre-negotiation, formal negotiations, and agreement. In addition, the win-win strategy is effective in reaching a beneficial agreement between the negotiators. The aspect of coalitions can also play a significant role in achieving the agreements in multi-party negotiations.

References

Guasco, M. P., & Robinson, P. R. (2007). Principles of negotiation: strategies, tactics, techniques to reach agreements. Irvine: Entrepreneur Press.
Lewicki, R. J., Barry, B., & Saunders, D. M. (2010). Negotiation (6th ed.). New York, NY: McGraw-Hill.
Lewicki, R. J., Barry, B., & Saunders, D. M. (2010). Negotiation: Readings, exercises, and cases (6th ed.). New York, NY: McGraw-Hill.

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Rock-N-Roll Negotiator: Multi-Party Negotiation

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