Pembertons dilemma free essay sample

Me and our team worked on an exercise called Pemberton’s Dilemma. In preparation, I was initially confused with scenario of the Pembertons dilemma. I took the book of Negotiation: Readings, Exercises and cases and read in detail regarding the exercise. I waited for the professor to provide the team and the role whether our team were country market or corner store. I also Read the instruction given in the handout’s for the exercise were we note our profit’s or loses and which also had the objective of the exercise. Plan Used to maximize the Profit’s or minimize the loses. We got the role of corner store. The plan that our team used initially was strictly competitive to gain profits since we don’t have any idea about the counter party and later it became accommodating. After we went a negotiation conversations with the counter party in two negotiation breaks’ which were of 5 minutes each. We will write a custom essay sample on Pembertons dilemma or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As a team we planned from the instructions to gain profit against the counter party in order to maximize our team’s profits at any cost, but maximizing the profit along with a long-term relationship in the future was tough. I believe the strategy our team used was collaborative. At the end of the negotiation exercise both our team and counter party have equal profit’s along with good relationship. How plan was started and conversation went on in the Team As a team our member had an initial strategy that was communicated well , alternatively I have another way of moves so that our team opens the store for fewer week’s which reduces work load in handling the store open for less time and gaining profit’s when compared to the counter party opening the store more time . I later Identified in my plan the profit’s that were going to be made were less when compared with the proposal of our team member. When discussing, our initial moves are opening the store for the first four week’s since to maximize our profits and also as we don’t have any Idea regarding the actions of Country store team. Initially for the first three week’s both our teams opened the stored since we don’t want to lose the profit’s . But as the case If both opens each store loses 20,000 $ and we made loses. Even in the fourth week we did the same thing because the profits are going to be doubled. But we incurred losses since both of the teams had same intention and we both opened the stores. So we thought to have a negotiation with the counter team so that loses were going to be minized. Negotiation happened in break-At our first negotiation the team agreed to stick to our competitive strategy and maximize our profit at any cost. The counterpart’s strategy was also so the same. The counterpart agreed upon our discussion in order to maintain mutual benefit’s . We used the negotiation as an open opportunity to go against what was agreed on. At I believe both parties changed their strategies and had a collaborative decision. Continuation of the role play The corner store team then did accept our plan and went in a collaborative situation. We both closed the stores for the next three weeks so that each gained mutual benefits. Now the time came where the profits are going to be tripled. This is the time that we are going to trust each other. They remained loyal and we remained in the same loyalty and both closed the stores, so that no penalty is going to be levied and our profits for the week are in positive direction when compared to the previous week. Negotiation happened in break-2 So the constraints If only one store opens, the other loses. If both open, both lose. However, if both stay closed, there won’t be any penalty, but will lose the potential profits for that day. This is core to the whole idea of the prisoner’s dilemma. Through cooperation and negotiation methods we cannot have a higher return possible through action of one opening and the other closing unless their won’t be any penalty. So we both the corner store and the country store mutual interests are maximizing the profit’s . so we focused on the mutual gains. Continuation of the role play After the second negotiation took place with counter party. We continued the strategy of closing the next three weeks . Now the ultimate time has come. Since they came to negotiation with us without acting individually we have to be trust worthy. We didn’t play any dirty tricks and kept the same hope from them by our conversation with them in the negotiation breaks and even in the role play . On the top the alternate opening or closing of stores and our relationship continuous only we both have trust in each other even after the twelfth week. Even at the final point the counterpart stayed closed along with us. Our only possible threat was what if they went against us mutual benefits. But it didn’t happen. Observing the gestures Following our competitive plan, we didnt express any type of attitude , we had relaxed actions and made no facial expressions. Even the counter party has the same behavior. Their behaviors made us believe that the counterpart was following us for mutual benefits. Personal Evaluation When we are working in a team relating to any aspect we first must have a communication with other members of the team so that we can have small ideas regarding their ideas or behaviors . So I introduce myself to other and listened about the others. Initially as I thought a plan of implementing the role-play, the other team member has another idea. As in my plan our store work’s less than other store and gains same profits. But the plan of my other team member is different. so I separated my position with my interest and agreed upon his opinion. Learning from the exercise I believe the team was able to utilize the Negotiation methods: separating positions from problems and inventing options for mutual, examining the situation and assessing the relationship further. If both teams utilized an interest based negotiation, we might have been able to form a collaborative and comprehensive solution to any negotiation. What I would do different in a similar future situation in my personal or professional life is try and understand thoroughly the problem at hand and be able to recognize the main interests and invent the options for mutual gains along with a Banta (Best alternative to a negotiation agreement) , unless the other party don’t play any dirty tricks.