Luke Hillegass MGMT 450 Blog

(1)  For the Live8 negotation, I played the role as the owner.  My partner and I negotiated over text message.  She initailly made the first offer, and noted that she would be fine with paying more.  Her first offer was $500,000.  I asked if she could go to 600,000, and after some back and forth, we both agreed.  I thought the negotation was unqiue and allowed each party to think more before their next move.   (2) I feel as though with us not being in person, I missed a lot of valuable information.  Such as reading my partner's facial expressions and being able to judge what they were going to say without actually saying it.  Additionally, doing it in person allows for a "mistake" or lapse in judgment, where as they isn't a huge possibility over text. (3) Going off of that, doing it on text message was extremely simple; however, I feel as though it takes away a lot of the factors of the negotiation.  You are unable to read facial express...

 Out of the 6 principles from the article, I feel I use the principle of authority (Defer to experts) the most.  In negotiations, whether that be in class or in my daily life, I tend to bring up articles or facts from experts or trusted sources to get my point across.  This offers a form of authenticity, knowing that most people will believe an expert in a field over me.  For example, if I am talking to my friends about football and want to prove a point, I will pull up a quote from an NFL insider to back up my claim.  I believe that personally, I am most susceptible to the principle of scarcity.  I feel like sometimes I tend to jump the gun on things of limited quantity and think that I am getting a better deal than I really am if there is less of something.  If somebody exploits this, I tend to fold to it.  I have tried to get better at it and feel like I am developing it, but it is still something that I struggle with.  I feel the most ben...