BMA 5406 Negotiation, Mediation, and Conflict Resolution
Self-reflection journal


Kickoff: First Lecture on 18th Aug 2005

I must say I am delightful to have this module. As Biz students, it’s necessary to have sound negotiation skills. Interactions and hands-on exercise, in this case, a pricing game – The Vidget Exercise was undergone. It was basically a game based on game theory (key assumption lies on the basis that nobody can be entrusted).

At the very beginning of the game, without negotiating with the counter party, most players resort to setting the $15 price option (the safe haven). After three rounds, negotiations are open. As the objective is to maximize profits for both sides, we managed to take alternative roles in favoring the opposite party. Hence for the sake of maximizing profits, the targets were achieved.

Remarkably, at the very last round, both the opposite side and we tried to deceive the counterpart, which resembles real business world. By that time, negotiations were closed; basically we could do almost anything. This is the funniest part of all, as we can snap the real nature of the evil side of humankind.