Pacific oil company Essay Example for Free

peaceful oil company actThe Pacific Oil Company went into dialogues with dependent Manufacturing, and its goal was to sign a more long-term agreement. Pacific assumed that the new contract would be signed with no major hurdles or objectives, and that the possessive point of negotiation would be price. Jean Fontaine, who is the marketing vice president for Pacific Oil, went into a negotiation swear out with Reliant. Jean started the process several years before Reliant Manufacturings contract was up, hoping to metre her competition to the lower price offers and leave with a contract extension of 5 years. Unfortunately, Jean did non properly research her clients needs or adequately project what the outcome expertness be. Because of this, Pacific Oil Company was not prepared to address the concerns and requests that Reliant brought up during the negotiation. Though some(prenominal) parties wanted to move quickly toward signing a contract, Pacific Oil Company elongated this process because it did not have a thorough negotiation strategy that included a contingency formulate or best alternatives.Pacific oil also neglected to draw out its best alternatives or bottom line in advance. Staying on the Same Page in Business Negotiations Pacific believed that some other elements of the contract might be discussed, but that no dramatic changes would be expected. Because of Pacifics privation of strategic planning, they wasted valuable condemnation, money, emotional stress and energy. They also risked losing other opportunities that could have been more good for them. Adding to the problem was Pacifics assumption that Reliant would sign a new contract quickly.Because of the time and money spent on traveling and negotiating back and forth, and the potential need for new technology development, which would be based on the contracts outcome, Pacific Oil Company became increasingly desperate to determine a contract with Reliant. As a result, Reliant obtained the advantage needed to make more demands during negotiations. Additionally, Reliant was aware of Pacific Oils dependence on its business, and took full advantage of these opportunities.