Topic > Midwestern Contemporary Art Case Study - 1249

Many situations feature the important synchronization between internal and external negotiations. Many individuals have studied how each party in the negotiation is able to manage internal opposition to the agreements being negotiated. This can also be known as “on the table,” or what exactly is at stake in a heated discussion. Each individual involved in a discussion has a particular position to manage, and often their personal interests are widely expressed. This article will delve into the case of Fischer raising the necessary funds from Smith with proposals and ideas for a manageable negotiation. Original Goals in Negotiation The case study of Midwestern contemporary art revolves around current MCA board chair Peggy Fischer and former board chair Peter Smith. Smith had been elected to the board after some people recognized him and his wife for their immense achievements in collecting art on behalf of the couple. Smith was initially owed $10,000 to even be elected president of the board. Smith actually paid an initial commitment of $10,000 and made amends financially to allocate another $5 million for museum improvements. It is not a deniable fact that Fischer recognized the admirable work done by Smith in running the museum. Smith went from being a board member to board president. Smith and his wife were well-liked in the community and aimed to stay out of the spotlight whenever possible. Original BATNA and Value Bargaining and negotiation are part of everyday life and in the case of Smith and Fischer an initial contractual agreement was established. BATNA or Best Alternative to a Negotiated Agreement is defined as the best method that can be used to convince… middle of paper… Fisher should have all the confidence in the world that he will have no problem winning the argument. Saving his personal image by avoiding urgent action against the Smiths is achievable with simple negotiations. Circumstances sometimes influence the actions of other parties, but do not necessarily determine what the outcome will be. The Midwest Contemporary Art Facility should exist for years to come as anything is possible. ReferencesAnderson, P. (2013). Bargaining and BATNA. Retrieved from: www.anderson.ucla.edu/faculty/dick.rumelt/Docs/Notes/101_batna.pHarvard. (2010). Leadership and management: negotiations. Retrieved from: http://hbswk.hbs.edu/topics/negotiations.htmlStarkey, B., Wilkenfield, J., & Boyer, M. (2010). International negotiation in a complex world. Lanham, Md: Rowman & Littlefield Publishers.