PACIFIC OIL CASE STUDY

Pacific Oil Case Study

Pacific Oil Company

Negotiation Build Up

Negotiation is basically a dialogue between two or more parties that aim to reach to an understanding. There could various objectives of the parties who are involved in the negotiation process. The basic objectives of the parties who are involved in the process of negotiation include:

Producing an agreement upon courses of action.

Gaining a particular advantage at the end of the dialogue of negotiation.

Bargaining for collective or individual advantage.

Resolving point of difference or disagreement.

Devising outcomes top satisfy and fulfill various needs of the parties involved in negotiation (Collins, 2009, pp. 58).

The basic purpose of the parties and people involved in the process of negotiation is to gain advantage by the end of the negotiation process. The solution of a negotiation process is to conclude at appoint where all the parties agree to compromise(Pizer, 2013). . This happens because all the parties involved in negotiation aim to gain particular advantages at the end of the negotiation process. Similarly, no party will be ready to bear a loss, so the negotiation process has to conclude when all the parties agree at a certain compromising point.

Negotiation was selected as a subject to discuss because it is very important to understand the importance of negotiation. The process of negotiation continues at different aspects of life. This means that negotiation is not only limited to business corporations to negotiate business deals. Negotiation plays a vital role in the daily life of people. Individuals face many situations in which they have to compromise with others in their life. Negotiation has a great importance in business and corporations because they need to negotiate at various levels of in the organization (Collins, 2009, pp. 58).

The method of communication and expression that the business representatives select during the negotiation process becomes the basis of the outcome of the negotiation process. A party that will use appropriate and effective method of communication and persuasion will benefit more at the end of the negotiation process. Negotiation was selected as the subject to be discussed because it is very important to understand the effective ways of communication during the negotiation process(Rotolo Sartor & Smith, 2009). . Pacific Oil Company is a Sweetwater Oil company of Oklahoma City, Oklahoma. It was founded in 1902. One of the significant synthetic lines of Pacific's is the creation of Vinyl Chloride Monomer (VCM). The author of Sweetwater Oil, E.m. Through advancement and securing in the 1920s and 1930s, Hutchinson extended the association rapidly and renamed it Pacific Oil in 1932. After a period of consolidating in the 1940s and 1950s, Pacific extended afresh. It made sweeping oil belonging in North Africa and the Middle East, and furthermore important coal beds in the western United States (Collins, 2009, pp. 58)..

Answer 3 (a):

Pacific Oil and Reliant Corporation rendered negotiation is the process to improve relationship between different parties to come onto a single consensus(Thompson Wang & Gunia, 2010). The aim of the negotiation is to come onto a ...