Matt and Red Star Holdings Case Study
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This paper is based on a case study involving Matt and Red Star Holdings. The focus is on using adequate negotiation strategies that can help both parties reach an agreement. Apart from negotiation tactics that are recommended to use in this case study, there is emphasis on essential cultural differences and their manifestation in the negotiation process.
From the Paper:"The possible negotiations between Matt and Red Star Holdings should be designed to tackle differences in terms of ethics, culture and behaviours. Both sides can benefit from the rapid development of technology in terms of facilitating communication, as this would affect the final outcome of the negotiation process (Fisher, Ury, & Patton, 2011). Thus, the aspect of cultural differences should be initially addressed upon starting the negotiations between Matt and Red Star Holdings. In general, there are two main approaches to any negotiation situation, identified as distributive and integrative strategies. Each is useful in specific contexts, and the same negotiator may use either strategy depending upon their goal. Distributive approach of negotiation shows the trend of bargaining in which each side endeavors to reach an individual victory (Lewicki, Barry, & Saunders, 2010). Distributive negotiation is associated with conflict situations in which each side seeks to show a particular competitive advantage, which occurs through hiding information, deception, bluffing and manipulation. This can only exacerbate tensions between the sides and may not be a viable option in the present case. Thus, realistically, this approach is not very profitable, having in mind that the purpose of the negotiations is not competitive victory but rather resolving the problem between both sides and reaching an agreement (Raiffa, 1982).
"Approaching the possible negotiations between Matt and Red Star Holdings through distributive negotiations would require the use of 'hard' tactic that is often applied because of a desire to conquer and reach victory. As a result, such negotiations would reflect in ignoring the interests of the opponent, using threats (mostly moderate), placing rigid deadlines, and showing willingness to escalate tensions (Lewicki, Barry, & Saunders, 2010). However, it should be made clear that negotiations should not be initiated by any extreme proposals, as both parties should try to make reciprocal concessions."
Cite this Case Study:
Matt and Red Star Holdings Case Study (2015, April 21) Retrieved July 10, 2020, from https://www.academon.com/case-study/matt-and-red-star-holdings-case-study-154172/
"Matt and Red Star Holdings Case Study" 21 April 2015. Web. 10 July. 2020. <https://www.academon.com/case-study/matt-and-red-star-holdings-case-study-154172/>