Group Work Mid-Term Negotiation Assignment Negotiation Skills Simulation Negotiation Practice 1.Pdf

Skills: Financial analysis and technical skills + Communication and teamworkskills + Customer service skills Experience: Financial Consultant Intern at a Fortune 500 company and cashier

MINISTRY OF JUSTICE

HANOI LAW UNIVERSITY

GROUP WORK MID-TERM NEGOTIATION ASSIGNMENT

COURSE NEGOTIATION SKILLS

TOPIC Simulation Negotiation Practice 1

Major: Legal English

Class: 4625- N02

Group: 03

Hanoi, December 2023

MINUTE DETERMINING THE PARTICIPATION RESULTS

IN GROUP WORK ACTIVITIES

Date: December 15 , 2023

Total number of students in the group:

+ Attended: 04

+ Absented: 0

Course: Negotiation Skills

Topic: Simulation Negotiation Practice Sample 7

Determining the level of participation and results of each student's participation in the involvement of group work activities, the outcomes are as follows:

No

.

Students

ID

number

FULL NAME

Students’

self-assessment Students

’ signatur e Teachers’ assessment

Grade

(in numbe r)

Grade

(in word)

Teacher s’ signatur e

2 462540 Lê Trần Thùy Như X

3 462544 Lê Thị Phương Thanh X

4 462550 Nguyễn Thế Toàn X

The results of the group work assignment Hanoi, December 15 , 2023 th

+ The first teacher’s assessment :……… GROUP LEADER

+ The second teacher’s assessment :………

- The result of the presentation :………

- Teacher grading the presentation :………

- The overall grade :………

- The final assessment of the teacher :………

THE PROCESS OF THE NEGOTIATION

SAM Education: Graduated with honors with a degree in Finance from the University of Southern California

Skills: Financial analysis and technical skills + Communication and teamwork

skills + Customer service skills

Experience: Financial Consultant Intern at a Fortune 500 company and cashier at

a local grocery store

Extracurricular activities:

Participated in student organizations

Volunteered at a homeless shelter

Served meals to the less fortunate

Career goals:

Become a Financial Analyst

Salary expectations: $57,500 and above

Remarks:

Sam Ursaline is a promising candidate for the position of Financial Analyst Sam has an excellent academic record, significant internship experience, and strong soft skills Sam also has clear and ambitious career goals To increase his chances

of being hired, Sam could elaborate on his skills and accomplishments in his internship position For example, Sam could share specific details about the tasks and projects he completed, as well as his contributions to the company Additionally, Sam could emphasize his career goals, such as wanting to become a skilled financial analyst and make a positive impact on society

CRIS Job Title: Senior Manager of Finance, Greenbaum Financial Services Past Experience: Managing 30 financial analysts Extensive search for a new

analyst (6 weeks, many interviews)

STEVE Personnel Manager of Human Resource Department, Greenbaum Financial Services

ALICE Assistant Manager, Greenbaum Financial Services

Situation Current Challenge: Hiring the perfect Financial Analyst

Criteria for an ideal candidate:

-Strong qualifications

-Exceptional dedication and ambition

-Genuine passion for finance

-Work experience and internship success

-Graduating soon (immediate start possible)

Current situation: Founding a promising candidate: Sam Ursaline (perfect fit) Facing a dilemma: Offering too little might lead Sam to decline Offering too

much leaves less room for negotiation

Uncertainty: Does Sam have other job offers? Overall: Cris is a dedicated

manager seeking the ideal candidate Sam Ursaline seems like a perfect fit, but Cris needs to make a strategic offer

STAGE 1 : PREPARE Cris & Sam

CRIS: Hello Sam, thank you for taking the time to come to the interview today Can you give me a brief introduction about yourself?

SAM: Hello Cris, I am Sam- a senior graduating from a large southern university with 2 years of experience working in the financial field I’m a Financial Consultant Intern at a Fortune 500 company and cashier at a local grocery store CRIS: Can you share more about your achievements during your work?

SAM: I have achieved many outstanding achievements during my work, including Won the "Excellent Intern" award from Fortune 500 Company in 2022, and completing all financial projects of the company

CRIS: Can you share more about your skills?

SAM: I have the following skills: Financial analysis skills, Financial risk management skills, Communication and presentation skills, Teamwork skills CRIS: Can you tell me your opinion about the importance of financial analysis in

a company?

SAM: Financial analysis is an important function in any company It helps companies use financial resources effectively, minimize financial risks, and achieve financial goals

CRIS: Can you tell me about the challenges that a financial analyst must face? SAM: Financial analyst faces many challenges, including Fluctuating financial markets, Changing customer needs, and complex financial laws and regulations CRIS: Thank you for answering my questions I am very impressed with your experience and skills

Steve & Sam

STEVE: Hello Sam, Thank you for coming to the interview today I'm Steve, Personnel Manager of Human Resource Department, Greenbaum Financial Services We'll be spending some time discussing your soft skills, which we believe are essential for the position of financial analyst at our company

SAM: Hello Steve I'm looking forward to sharing my skills

STEVE: First, can you share about a situation where you had to deal with a difficult customer? How did you handle that situation?

SAM: I can share about a situation where I had to deal with a difficult customer while I was working at a retail store The customer was unhappy with a product

they had purchased and started yelling at me I tried to stay calm and listen to their complaint I explained that I understood their frustration and that I would do everything I could to help them I called the store manager, and we resolved the issue in a way that was satisfactory to the customer

STEVE: What about a situation where you had to face a challenge at work? How did you overcome that challenge?

SAM: I can tell you about a situation where I had to face a very tight deadline for

a project I had to work very hard to complete the project on time I had to learn how to manage my time effectively and work longer hours than usual I also had

to ask for help from my colleagues Thanks to the efforts of the whole team, we completed the project on time and achieved good results

STEVE: Thank you for sharing your stories

SAM: Thank you

STAGE 2: EXCHANGE

ALICE: Okay Sam, so another question is if you get the job, how much do you expect the basic salary to be?

SAM: So, I also researched about the average salary for a Financial Analyst position for beginners, which ranges from 50,000 to 68,000 dollars However, I know that as a beginner, I am not really guaranteed to be able to bring good results to the company and with some of the experience gained during my studies and accomplishments Therefore, I see that with my qualifications, my expected starting salary is 68,000 USD

ALICE: You said that according to your research, the basic salary will range from 50000 - 68000 dollars but you offer the highest salary Can you explain more clearly why you think a salary of $68 is suitable for you?

SAM: Actually, my wife Pat and I are planning to get married soon and we need

to save enough money to buy a house So, a starting salary of 68 will be of great help in our future plans

ALICE: However, we know that you are a capable and potential person in this position of the company, but we are very sorry because this is for personal reasons as well as the ability of ensuring for company development of beginer like you is not guarantee

ALICE: Besides, when becoming an official employee, the company also has benefits, allowances and bonuses for employees if they achieve good results during their working time

SAM: Can you tell me more?

ALICE: So, after becoming an official employee for one year, you will get 1 week of company-sponsored vacation and after 3 years of employment, this number will increase to 2 weeks of annual vacation

ALICE: Besides, the company will contribute to the cost of Medical/Dental/Vision insurance for employees which will be $400 monthly for

a single person or $500 for a family Costs here are fixed and non-negotiable

STAGE 3: NEGOTIATION

CRIS: Sam, I'm very impressed with your experience and skills You're a top candidate for the financial analyst position at our company

SAM: Thank you, I'm also very excited about the opportunity

CRIS: However, I have a couple of concerns about your salary requirements You're asking for $68,000 a year, but I think that's a bit high compared to the average salary for this position in our company

SAM: I understand, but I believe that my salary is fair given my experience and skills I have 2 years of experience working in the financial field, including an internship with a large Fortune 500 company I've also achieved many notable accomplishments during my career, as I said

CRIS: I understand what you're saying, but I also have to consider other factors, such as your high compensation and company policy According to company policy, the maximum salary for the financial analyst is $60,000 a year, while you are just a new candidate

SAM: I understand, but I think the company should reconsider its policy The financial market is changing rapidly, and financial managers need to have supporters possessing deep skills and experience to keep up with those changes

I believe that $68,000 a year is a fair salary to attract and retain talented financial professionals

CRIS: I absolutely want to have a talented employee like you in our company but we can not just change our policies and regulations for you, as you know this company attracts lots of valuable candidates

SAM: I see, do you have any alternatives?

CRIS: I know you're considering the salary OK lets see, I read that your fiancée Pat major in professional accounting and also has potential background I want

to say that if you agree to work here, I will arrange for your fiancée to apply for the position of accountant at our company The position pays $35,000 a year SAM: Really, That's very generous of you But I don't want to use Pat to persuade you I want you to agree to my salary based on my merits

CRIS: I understand But I think this is also a great advantage for you If you and Pat work together at the company, you can support and help each other in your work This can also help you develop yourself and your career faster

SAM: I'll think about it carefully Because I know that $55,000 a year is less than what I want though, but if Pat can get the accountant position, that would

be a big advantage

CRIS: I hope you'll consider my offer

STAGE 4: CONCLUDE

SAM: Alright, you got me with these privileged points I’m so happy to hear about the provisions that you can bring to me I will definitely serve my devotion and all abilities for your company

CRIS: Good, I’m pleased to inform you again that we have agreed to accommodate $1,500 as your maximum relocation expenses, and your salary is

$55,000 with the compensation that my assistant has told you

SAM: And may I ask you about Pat? What decision have you made about her position?

CRIS: About Pat, as an accounting professional, gets the approval of the head of accounting for the accountant position with a salary of $35,000, and her compensation is the same as yours

SAM: That's awesome! Thank you so much

CRIS: Nothing We are delighted to have you on our team

SAM: Me too I'm looking forward to starting work

CRIS: I sent you the contract and the necessary information Please read them carefully and sign them

STAGE 5: EXECUTE

SAM: I have signed the contract Here you are.

CRIS: Congratulations on taking part in our company See you on Sunday this week We will hold a small party to welcome the new members, and we hope you will come and enjoy it

SAM: Yes, I will definitely attend Thank you See you on Sunday

That is the end of the negotiation.

REFERENCES

Mark, P (20I2) International Negotiations Student's Book (1 ed.) st

Cambridge University Press

Fells, R (20I6) Effective Negotiation: From Research to Results (3 ed.) Cambridge: Cambridge University Press

doi:10.10I7/CBO978I316442807

Steve, G (2022) The Negotiation Book: Your Definitive Guide to Successful