NAB Planning Template & Checklist

Submitted by S.No. 1 2 3 4 Group Members: Group 50

FT Number KARIVARATHARAAJU M FT14328 KARTIK BHANDARI FT14329 KAUSHIK DAS FT14330 KAUSHIK ANANTHANARAYANAN FT14333

nning Template Checklist

Email ID karivaratha.pgpm14c@greatlakes.edu.in kartik.pgpm14c@greatlakes.edu.in kaushikdas.pgpm14c@greatlakes.edu.in kaushik.pgpm14c@greatlakes.edu.in

NAB Planning Template and Checklist

Phases 6W-1H

Pre
Who is this negotiation about? Who all are a party to it? Why is this negotiation required? What are the interests of the parties?

During

Post

Who Why

Who is being honest and who is Who got what? trying to deceive? Why is/are the other Why did the negotiation party/parties adamant on like it did? certain issues? Can some value be created? What are our takeaways this negotiation?

What Whom

What is that is to be What strategies to use to negotiated? What Values do the influence? parties bring to the table?

The offer from whom can be Towards whom is the balance of To whom did the cherry considered as the best negotiation shifting? alternative to this negotiation? Where in the negotiation can we face barriers? Where are the Blind spots in this negotiation? Where do I need to look?

Where

Where in the negotiation we have done better for ourselves?

When

When may the parties use their When should we stop/be not powers? When are the parties negotiating? not being ethical? How do you get ready for the negotiation using the 7 key elements.

When was the negotiatio decided? - deciding facto

How

How to negotiate from: position How can further value be of weakness, when negotiations created? get ugly- irrationality, distrust, anger, threats, ego

Pre - Negotiation
Who is this negotiation about? Who all are a party to it?

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In a negotiation there are 7 key elements. The first key element is "Parties". Who all are a party to the

When you answer this question you need to identify all the stakeholders. Keep in mind that parties ma with across the table but there may also be other parties. Look at third side, who all are looking at you public, public authorities, environmentalists etc.

Enter the names of the parties in the columns below. The first one has been entered as I/We (you can c

Party 1 I/We

Party 2 <Enter name here>

Party 3 <Enter name here>

Party 4 <Enter name here>

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Why is this negotiation required? What are the interests of the parties? In negotiation the next important element is the "interests" of the parties. Why are these parties lookin want, what is valuable to them that they wish to have.

The parties mentioned by you have been copied below. Now below each of the party mention their int Example: If you are interested in a promotion then write promotion below your name, if you entered y the project work to be completed in two months then write the same below his name. Similarly write a names.

I/We <Enter interests here> <Interest 1> <Interest 2> <Interest 3>

Filled automatically Filled automatically Filled automatically <Enter interests here> <Interest 1> <Interest 2> <Interest 3> <Enter interests here> <Interest 1> <Interest 2> <Interest 3> <Enter interests here> <Interest 1> <Interest 2> <Interest 3>

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What is that is to be negotiated? What Values do the parties bring to the table? The next obvious element is what values do the other parties bring to the negotiation. What is it that th do which is of greater value to them. Example: If your company specializes in certain services you can write that as your value. Do the same I/We <Enter values here> <Value 1> <Value 2> Filled automatically Filled automatically Filled automatically <Enter values here> <Value 1> <Value 2> <Enter values here> <Value 1> <Value 2> <Enter values here> <Value 1> <Value 2>

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The offer from whom can be considered as the best alternative to this negotiation? A very important element in negotiation is BATNA - Best Alternative To Negotiated Agreement. It is the It is important to identify your BATNA as well as the BATNA of other parties so that you know what opt them before your offer becomes second best to them. I/We <Enter BATNA> Filled automatically Filled automatically Filled automatically <Enter BATNA> <Enter BATNA> <Enter BATNA>

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Where in the negotiation can we face barriers? In negotiation there can be barriers that parties may face. This could be due to existing contracts, cultu down all barriers you can think other parties may have and also write down your own barriers. A barrie issue, a one time problem etc. I/We <Enter barriers> Filled automatically Filled automatically Filled automatically <Enter barriers> <Enter barriers> <Enter barriers>

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When may the parties use their powers? When are the parties not being ethical? While preparing for negotiations we need to look at two vital elements: power and ethics.

Power: List down the powers that all the parties have. Example: Workers may have the power to hold u influence over clients etc. Ethics: It is also a good idea to list down your estimate of the ethics that the party follows. For example may know that a party is known to be unethical, you may be doubtful about some parties. I/We Filled automatically Filled automatically Filled automatically <Enter powers> <Enter powers> <Enter powers>

Powers

<Enter powers>

Ethics

<Enter your estimate <Enter your estimate <Enter your estimate <Enter your estimate of ethics> of ethics> of ethics> of ethics>

How do you get ready for the negotiation using the 7 key elements. Go Back Top Parties Interests Here's a summary of what you've found out till now:

I/We Filled automatically

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Values

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BATNA

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Barriers

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Power

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Ethics

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Preparing to Negotiate Step 1: Assess your BATNA 1. Identify all of the plausible alternative options you might pursue. 2. Estimate the value associated with each alternative. 3. Select the best alternative; this is your best BATNA. Step 2: Calculate your reservation Value An analysis for your BATNA is critical because it allows you to calculate your reservation value (RV), or y situation of negotiation. As you see, a careful assessment of your BATNA is essential if you are going to that is based on a realistic assessment of your alternatives. Your BATNA is the reality you will face if you negotiation. Step 3: Assess the other partys BATNA Now that you have assessed your BATNA and calculated your reservation value, you know the lowest o the negotiation. You will want to think through each of these alternatives carefully. Step 4: Calculate the other partys reservation value Now that you have evaluated your BATNA, a reasonable way to determine her reservation value is to c do with if the negotiations does not work out. Step 5: Evaluate the ZOPA Once you have an idea of each partys reservation value, you can evaluate the zone of possible agreem possible deals that would be acceptable to both parties.

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Preparation Strategies for Value Creation In this section, we add to this list of preparation tasks: Strategy Strategy 1: Identify your multiple interests. Strategy 2: Create a scoring system. Strategy 3: Calculate a package reservation value. Strategy 4: Identify the other partys multiple interests. Enter your notes below:

During Negoti
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Who is being honest and who is trying to deceive? In a negotiation when you get a hint that the other person is Lying, firstly confirm based on your knowl negotiation background if the other party is actually lying or not. Also set a trap to catch more lies. If the other party is actually lying, you may warn them or confront them based on the situation at hand negotiation is not creating value with the degree or magnitude of the lie, you may decide to discontinu negotiation.

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Why is/are the other party/parties adamant on certain issues? Can some value be created? They may be uninformed, have hidden constraints or interests. In this kind of situation , we can share s information and express our problems on why their demands may not be met. Also we should come up after all these constraints are exposed so that in the end we end up creating value for all the parties at table

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What strategies to use to influence? 1. We can Prepare and Create a scoring system 2. Separate Information from influence did I learn anything new or was this just influence 3. Rephrase their offer in other terms 4. Appoint a devils advocate 5. Do not negotiate under time pressure

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Towards whom is the balance of negotiation shifting? If you feel the negotiating is not going towards creating value for both the parties or going towards a ze negotiation, you need to anchor the negotiation and move the negotiation towards creating value.

Where are the Blind spots in this negotiation? Where do I need to look?

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Parties away from the table may be affected due to the negotiation .Other sides information advantag strength of Competition. Often we neglect things that are right in front of eyes Grossed so much in ta is missed. Best way to go forward is to give Time, and have an Investigative mind-set and conscious effo

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When should we stop/not be negotiating? When Time is Money When Your BATNA Stinks - And Everyone Knows It When Negotiating Sends the Wrong Signal When Relationships Might Suffer When Negotiating is Culturally Inappropriate

How to negotiate from: position of weakness, when negotiations get ugly- irrationality, distrust, ange Go Back Top From a Position of weakness: 1. Dont reveal that you are weak 2. Overcome your weakness by leveraging their weakness 3. Identify and leverage your Distinct Value Proposition 4. Consider relinquishing power if there is very little power anyway 5. Strategize on the basis of entire negotiation portfolio Irrationality 1. They may be uninformed, have hidden constraints or interests 2. Need to deal with distrust . Trust is of two types competence and intention How to deal with Anger 1. Seek to understand cause of anger 2. Give voice to their anger give legitimacy to other persons feelings 3. Sidestep the emotion dont take it personally 4. Help them focus on their true underlying interests Deal with threat and ultimatum 1. Ignore Threat 2. Neutralize any additional threats they might be tempted to make 3. Let them know if you dont find the threat credible because of their a. constraints b. interest

Post-Negotia
Who got what?

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There are many stakeholders whom we would need to consider to evaluate the question comprehensiv

Parties : It is important to ensure that harmony is maintained between all parties present in the negoti one will have to ensure that parties have been treated fairly and have a net positive ZOPA.

Third Side : The third can can be any one who feel that they had a stake in the negotiation or probably helped in any aspect. They should feel satisfied by the outcome of the negotiation and feel that their opinion was counted an

Influencers : Teams that help strengthening the deal further by providing more wrt to creation of value opportunities can improved.

Deciders : Key people in parties who feel that they might left cash on table and acting upon advise of i a position to claim the excess value left

Using the headers given below, stakeholders can write down what one gained and what they feel migh captured during the course of the negotiation.

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Party 1 <Enter gains and perspecti ve loss>

Party 2 <Enter gains and perspecti ve loss>

Third Side <Enter gains and perspecti ve loss>

Influencers <Enter gains and perspecti ve loss>

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Why did the negotiation take up place? Why did it turn up the way it did? The parties will have go back and reflect on the reason for the negotiation. They will evaluate whether interests and synergies have been met or not. They will also have to identify the various stumbling bloc during the course of the negotiation. They will have critically evaluate the deal and mark certain events turning points or favourable or unfavourable circumstances

What are our takeaways from this negotiation?

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To answer this question, there are many aspects that need to examined. These are : a) Type : Was the negotiation conducted in a congenial atmosphere? Was it direct negotiation where p of what was available to be claimed or was it indirect in terms of probing statements leading through w was evaluated and created?

b) BATNA : Since the deal has been arrived parties need to realise that their BATNA is not longer their r focus should be on making the deal 'sweeter' if possible. c) ZOPA : The deal should be signed such that it is a positive ZOPA for the parties involved.

d) Bargaining Mix : Was the hierarchy of bargaining mix realised in terms of concerns meeting desires a deal itself. Tradeables by means of logrolling and cotingency contracts should helped in achieving the b

e) Value : The deal shouldbe such that it beyond the resistance value of each parties and should be eva incremental value that is still desired and has been left on the table

f) WHAT IF condition : If the negotiation has failed then the BATNA needs tobe pursed and contigency needs to be executed.What caused the negotioation to fail is something that will be evaluated with kee

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To whom did the cherry go? Parties associated with the negotiation will have evaluate the gains and losses with all honesty. Did it m and potential that they sleeked. If they have met all their interests, it can be concluded that achieved w to and look leveraging it to its maximum.

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Where in the negotiation could we have done better for ourselves? Did the place have any influence on the outcome of the decision? It is always a good idea to seek postto enhance the value and thereafter claim it. This should be similar to the actual negotiation in which p should have been achieved. If required, the venue of the negotiation can be changed. During the course of the post-post settlement it is important to be aware of the stumbling that arose d negotiation and look at improving upon those aspects to ensure that no value has been left unclaimed. increasing the trust and the lead to better relationship between the parties. The aspect of third party in also be considered.

When was the negotiation decided?

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There will be certain turning-points during the negotiation. This should be identified by the stakeholde beneficiaries, influencers and the third side. Was the turning point dependent on external factors such at the table or was it caused due to information that one chose to ignore? Parties should also evaluate in terms of strategic significance and potential aftereffects post negotiation.

It should be noticed the deal should have been concluded without any animosity and without the prese toxicity. This will help realise potential synergies that are envisioned. Further, in the case of post-post s relationships do matter to eliminate fixed-pie bias and this will help overcome certain deficiencies to a incremental pareto efficiencies.

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How can further value be created? Parties will have to focus on the processes and standards that were followed, the concessions that we influence and power that was exerted, barriers that were overcome and ethics with which the deal w same can be written in text boxes mentioned below. This will help structure the post-post settlement.

The role of influencers , the third side and decision makers becomes very critical at this stage. Post-Po key feature at this stage which will ensure that parties recognise the potential benefits of creating new exploiting the conditions to claim the same. However, the claim should conducted such that it does not bargaining mix of parties involved and looks at building upon previous pareto-agreement.

Party 1 <Enter Barriers Power Concessions Processes Value>

Party 2 <Enter Barriers Power Concessions Processes Value>

Third Side <Enter Barriers Power Concessions Processes Value>

Influencers <Enter Barriers Power Concessions Processes Value>

Checklist

Post
Who got what? Why did the negotiation turn up like it did?

Instructions:
Click on the hyperlinks on the left side and read the instructions and fill in information where asked.

What are our takeaways from this negotiation? To whom did the cherry go?

Where in the negotiation could we have done better for ourselves? When was the negotiation decided? - deciding factor? How can further value be created?

gotiation

Who all are a party to the Negotiation?

ep in mind that parties may not be limited to the ones you will directly deal who all are looking at you for the decision? Shareowners, creditors, clients,

entered as I/We (you can change that to who you represent)

Party 5 <Enter name here>

Party 6 <Enter name here>

Party 7 <Enter name here>

Party 8 <Enter name here>

hy are these parties looking forward to the negotiation. What is it that they

he party mention their interests. our name, if you entered your manager as Party 2 and your manager wants his name. Similarly write all the interests of all the parties below their

Filled automatically Filled automatically Filled automatically Filled automatically <Enter interests here> <Interest 1> <Interest 2> <Interest 3> <Enter interests here> <Interest 1> <Interest 2> <Interest 3> <Enter interests here> <Interest 1> <Interest 2> <Interest 3> <Enter interests here> <Interest 1> <Interest 2> <Interest 3>

e? gotiation. What is it that they can do for you and and what is it that you can

your value. Do the same for other parties. Filled automatically Filled automatically Filled automatically Filled automatically <Enter values here> <Value 1> <Value 2> <Enter values here> <Value 1> <Value 2> <Enter values here> <Value 1> <Value 2> <Enter values here> <Value 1> <Value 2>

ation? tiated Agreement. It is the course that a party will take if this negotiation fails. o that you know what options do they have and how much can you stretch

Filled automatically Filled automatically Filled automatically Filled automatically <Enter BATNA> <Enter BATNA> <Enter BATNA> <Enter BATNA>

o existing contracts, cultural differences, difference of opinions etc. Try to jot our own barriers. A barrier could also be like a family constraint, a temporary

Filled automatically Filled automatically Filled automatically Filled automatically <Enter barriers> <Enter barriers> <Enter barriers> <Enter barriers>

cal? er and ethics.

y have the power to hold up work, a salesman may have the power of

party follows. For example: You may assume your manager to be fair, you some parties. Filled automatically Filled automatically Filled automatically Filled automatically <Enter powers> <Enter powers> <Enter powers> <Enter powers>

<Enter your estimate <Enter your estimate <Enter your estimate <Enter your estimate of ethics> of ethics> of ethics> of ethics>

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Enter answers below:

eservation value (RV), or your walk-away point in the current ssential if you are going to establish a rational reservation value e reality you will face if you reach no deal in the current

ue, you know the lowest offer you would be willing to accept in efully.

er reservation value is to consider what the other party is likely to

e zone of possible agreement, or ZOPA. The ZOPA is the set of all

r notes below:

g Negotiation
Your Notes:

firm based on your knowledge of your ap to catch more lies. d on the situation at hand. If you feel the may decide to discontinue with the

alue be created? situation , we can share some of our t. Also we should come up with a solution value for all the parties at the bargaining

Your Notes:

Your Notes: just influence

Your Notes:

rties or going towards a zero-sum owards creating value.

Your Notes:

des information advantage might pose as a es Grossed so much in task that something mind-set and conscious effort.

Your Notes:

rrationality, distrust, anger, threats, ego?

Your Notes:

on

-Negotiation
Your Notes:

he question comprehensively

rties present in the negotiation. To do so, ositive ZOPA.

e negotiation or probably who could have

eir opinion was counted and considered.

re wrt to creation of value and existing

nd acting upon advise of influencers, are in

d and what they feel might have lost or not

Deciders <Enter gains and perspecti ve loss>

Your Notes:

Your Notes:

hey will evaluate whether their potential the various stumbling blocks that came up al and mark certain events which caused

Your Notes:

se are : direct negotiation where parties were aware ements leading through which the value

BATNA is not longer their reality but now

ties involved.

concerns meeting desires and finally actual d helped in achieving the bargaining mix. parties and should be evaluated in any

be pursed and contigency plans for the same will be evaluated with keen detail.

Your Notes:

s with all honesty. Did it met their interests concluded that achieved what they wanted

Your Notes:

a good idea to seek post-post settlement, ual negotiation in which pareto efficiency changed. he stumbling that arose during the actual e has been left unclaimed. This will help The aspect of third party involvement should

Your Notes:

entified by the stakeholders including the t on external factors such as new revelation rties should also evaluate the timing of deal

sity and without the presence of any , in the case of post-post settlement, e certain deficiencies to achieve

Your Notes:

d, the concessions that were made, the hics with which the deal was concluded. The he post-post settlement.

itical at this stage. Post-Post Settlement is al benefits of creating new value and ucted such that it does not reduce the -agreement.

Deciders <Enter Barriers Power Concessions Processes Value>

Your Notes:

<Enter name here> <Enter interests <Enter values here> <Enter BATNA> <Enter barriers> <Enter powers> <Enter your estimate