Learning Journal - Best Books

In: Business and Management

Submitted By dtjskim
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Pages 4
Learning Journal
Best Books

CE The Best Books exercise was consist of two parts. Students formed group of two for this exercise. First portion was to conduct negotiation and the second portion was to calculate points for comparing. We were given two different role information, one for Paige Turner’s Agent and one for Bestbooks. The negotiation between the Agent and Bestbooks was hinged on the 8 points. They included royalties, contract bonus, number of print runs for the book, numer of weeks that Paige has to promote the book, number of books, advance, number of countries where the book will be sold, and the number of bookclubs that will adopt the book. After the negotiation, we calculated points according to the “Confidential Success Table” that was provided. For this exercise, I was Paige Turner’s agent. As we started negotiating, both of us didn’t know where to start. Therefore, we simply decided to negotiate in sequence from royalties to number of bookclubs that will adapt the book. However, we soon realized that it was not going to work that way. Naturally, we started offering deals on several points without telling each other what we were after. I think we both were trying to figure out what each other was focusing on. During this process, we also figured out that we had some common interest on several points. It took us about 25 minutes to complete our negotiation. When we were done with our negotiation, we signed each other’s paper and calculated points according to the “Confidential Success Table”. We simply added up all the points that we earned on each points. My partner scored 26,200, and I scored 23,300. I got a good deal on royalties but lost hugely on signing bonus and the advance. We both had to yield some to get better deal on points that had higher score. My partner and I have agreed that this exercise was the most…...

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