I don’t know how to handle this Management question and need guidance.
Please read the case “Name Your Price” before you answer the discussion questions. After you understand the case material, please respond to the following questions, respectively:
- If you had to give Monroe one piece of advice as he sits down to draft his proposal to Jim, what would you say?
- If you were Monroe, what offer would you propose to Jim? Please specify the terms:
- Base Salary
- Performance based bonus
- Stock Options
- Other terms
- If you would want to append a note to Jim when you send him your compensation proposal, please provide the text of your message below. It can be as long or as short as you would like it to be.
- Why would you bother to send Jim a message along with your offer proposal?
- Please watch the following video clip from TV episode “Taxi” and answer the following questions:
- What is similar to these situations?
- How could Louie have gotten a better deal?
- What is different between the situation faced by Louie and Monroe?
- What happens if you treat your negotiation with Jim Hummer the way Louie treated his negotiation in the video?