Reflection Journal: TEXOIL CASE Summer season 2015
To get the Texoil negotiation, I used to be assigned the role with the Service Stop Owner. As a result, my main objective was to sell the station and get the best suited agreement. My own BATNA was $518, 500, which accounted the present plus the next 2 years expenses ($478, 000) in addition half of the yr salary after return from your trip ($35, 000). My own asking price was 650, 500 explaining to Texoil that the market price was around $800, 1000. The benchmark was the cost of constructing the new gasoline ($650, 000) plus other costs (years of permits, property construction, loss in customer during that timeframe).
My personal main approach on this offer was to initially share the information to set a good tone of being " forth-coming and with genuine interestвЂќ to sell to Texoil because of the long term relationships these previous 12 years. I was willing to inform the story regarding why were selling, what were the plans to get the boat trip and the long term plans upon returning. Then, I placed my priorities price and relationship. Finally, I wanted to look into the discussion knowing my personal target value (hoping for$650K) and my personal reservation price ($553).
By simply not attaining an agreement, I use mixed emotions in the outcome. In one palm, sometimes it takes a few more conversations to solidify a package (more chatting not necessary means coming into agreement). In the other hand, I've believed that this negotiation was hampered by having unrealistic assumptions about what the additional can afford and never been able to discover a common BATNA. By centering exclusively inside our own demands, we overlooked the opportunity to perform much better than the respective BATNAs.
A positive take note was that we had a lot of variation which will resulted on creating a wealthy conversation. A fascinating fact was that at the beginning of the conversation, My spouse and i felt at nighttime about being aware of Texoil BATNA since I actually wasn't sure about their assumptions.
As the vendor, I stated my asking pricing and provided the context. However , when I saw that the...