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Negotiation Skills-Case Study 1

In: Philosophy and Psychology

Submitted By burnedout
Words 559
Pages 3
December 1, 2012
HRM 594-60124 Negotiation Skills
Keller Graduate School of Management
Cast Study 1: Capital Mortgage Insurance Corporation

In any good negotiation, it is important that the Capital Mortgage Insurance Corporation (CMIC) and Corporate Transfer Services (CTS) understand the issue and must come into the negotiation with a clear idea of what the conflict is and what they would like to gain from it. Both companies should present their side of the case. The dilemma is the president of Capital Mortgage Insurance Corporation, Frank Randall and his senior vice president and treasurer Jim Dolan are planning a strategy in order to compete and successfully receive the acquisition of Corporate Transfer Services.
In order for Capital Mortgage Insurance Corp to accomplish this, they must understand the interest and position of Corporate Transfer Services. Once this is accomplished, Randall and Dolan must come into the negotiation with a clear idea of what the conflict is and what they would like to gain from the negotiation. If the Corporate Transfer Services is unwilling to agree or reach an impasse, then CMIC should ask questions such as, what are you concerns and ultimately, what would you like to see happen with this transition? CMIC must be willing to actively listen to the concerns of CTS and be willing to explore other solutions in order to fulfill the agreement.
The bulk of the negotiation process is a continuous back and forth of ideas, options, and even arguments between CMIC and CTS. The first solution offered up is rarely the final choice. This part of the process varies greatly depending on the type of negotiations taking place. If a negotiator is involved, he will direct this stage of the process by offering various solutions and continuously working with both parties to find a mutually acceptable agreement.
This step of the negotiation…...

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