Problem: You are a board member of Ace Global Institute, a university in United States. You are in the first level of negotiation to get a university in Canada? A deal that will offer your university with many more resources and course offerings, such as more masters-level courses and its first Ph.D.-level courses. This will improve the institute’s accreditation and status. Your initial meeting will lay the critical groundwork for your final meeting. Answer following points:
1. Identify your procedure goals, which comprise the key steps to proceed and the interest in negotiation procedure.
2. Explain one tactic each for the following points which you can use to make your negotiation successful:
a. Show your knowledge of cultural differences between you and your counterparts.
b. Deal with the counterparts who are well-versed with nuances of education business.
c. Set the expectations of the counterparts for negotiable and nonnegotiable aspects.
3. Understand which aspects of the negotiation procedure you find appealing. What are some of the inherent flaws which you could see surfacing throughout the negotiations to purchase the university?
4. Describe the skills you will bring to the table to make sure that you are competent to know whether to continue the negotiation after your initial meeting or to walk away from process.
5. Describe your perception of you and your counterparts’ negotiation goals and complexities involved in this deal.