Capital Mortgate Insurance Corp
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When entering into negotiations with Corporate Transfer Services (CTS), Capital Mortgage Insurance (CMI) should identify what is important to their organization. CMI should be willing to make small concessions towards CTS in order to establish a sense of cooperation while allowing CMI to stand firm on its main issues and gain accommodation from CTS. Although the four CTS owners seem to be positive, negotiations can at times bring about the worst in others. Therefore, CMI should be prepared for any obvious issues CTS may have.
When negotiating, CMI should be prepared, knowing what the wants and needs of both their corporation and CTS. They should be able to present those wants and needs and establish open communication to receive that of CTS as well. CMI must justify their support of the needs of their organization and expose the weaknesses in CTS in order to gain the upper hand. Through exploration both corporations will find ways to make the needs of both parties come together. CMI should address areas in which the organization is willing to compromise in order to form a better working relationship. CMI should present CTS with possible solutions which take into consideration all points presented by both sides and they would then form a plan together which meets the needs of both corporations.
Negotiation is a lot like persuasive public speaking. Persuasive speaking involves need, plan, and practicality. One must first present a need for change in another (person or organization), show how the current path/plan can be made better by change, and provide a plan for optimizing the change process. Making it easy to follow and beneficial for all concerned.
Communication during a negotiation is paramount to both parties. A debate structure works best. First allow CTS to present their needs. Then allow CMI to ask questions once CTS is finished with their presentation. Following this CMI may present their needs, followed by any questions from CTS. Holding all questions until the end of the presentation aids in many ways: it allows each side to be heard without interruption; often points are clarified during a presentation, thereby answering the questions; it lends value to the oppositions concerns and needs.
Following the initial presentation of needs and wants, further communication between the parties should flow much in the same way. Neither side should be interrupted, questions should be held until the end of presentations. Time limits should be established to prevent both sides from monopolizing the negotiation. CMI should watch for non-verbal cues given by CTS at the same time. Often times the opposition gives cues which can aid you in clarifying your stance or let you know which points are extremely sensitive to their needs and wants.
The majority of CMIs questions for CTS will focus on sell price. CTS is willing to sell but the motivating factors may not be fully known. Questions probing into a breakeven