Watkins, Samuel Passow , Dump Sunk needs fundamental changes to business model rather than cosmetic changes. – Strong Brand Equity and Brand Awareness – Dump Sunk has some of the most recognized brands in the domestic market it operates in.
Negotiation strategy solution for case study Sunk Costs: The Plan to Dump the Brent Spar (B) ” provides a comprehensive framework to analyse all issues at hand and reach a unambiguous negotiated agreement. It also touches upon business topics such as – Marketing Mix, Product, Price, Place, Promotion, 4P, Crisis management, Leadership, Negotiations, Sustainability. – Growing Protectionism – Dump Sunk should hedge the risk against growing protectionism ranging from – storing data into international market to diversifying risk by operating into countries at different economic cycle.
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Prod. The five forces that determine the industry structure of organization in casename case study are – 1. According to Michael D. The goal is to seek premium price because of differentiation and uniqueness of the offering. Sometimes the negotiated agreements are not realistic or various parties interpret the outcomes based on their understanding why not try this out the situation. Dump Sunk is struggling to restructure processes in light of developments in the field of Artificial Intelligence (AI) and machine learning.
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To achieve above average profits compare to other industry players in the long run, Dump Sunk needs to develop a sustainable competitive advantage. The company can pursue horizontal integration to consolidate and bring efficiencies but I believe it will be a short term relief. The best outcome should be out of many options rather than few options.
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– Developments in Artificial Intelligence – Dump Sunk can use developments in artificial intelligence to better predict consumer demand, cater to niche segments, and make better recommendation engines. The negotiating protagonist needs to have clear idea of – what will happen if the negotiations fail. Opportunities can emerge from various factors such as – economic growth, technological innovations, changes in consumer preferences, political developments & policy changes, and increase in consumer disposable income . According to Michael D. Watkins, Samuel Passow , there is huge scope of improvement in inventory management. If the negotiated agreement is going beyond the industry norms or established standards of fairness then it is prudent to get out of the negotiation.
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What’s my BATNA (Best Alternative To a Negotiated Agreement) – my walkaway option if the deal fails?
What are web most important interests, in ranked order?
What is the other side’s BATNA, and what are his interests?
Supplements the (A) case. Number of times Win-Win is better option that outright winning or getting what you want. – Lucrative Opportunities in International Markets – Globalization has led to opportunities in the international market.
Open lines of communication between parties in the case study “Sunk Costs: The Plan to Dump the Brent Spar (B)” can make for an effective negotiation strategy and will make it easier to negotiate with this party the next time as well. Dump Sunk has tried to diversify first using different brands and then by adding various features based on customer preferences. Bargaining power of suppliers of Dump Sunk – If suppliers have strong bargaining power then they will extract higher price from the This Site Sunk.
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Porter Five Forces model is heavily borrowed from the traditional field of micro economics.
Hard Bargainers – These people see negotiations as an activity that they need to win. .