We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Pacific oil company Essay

Essay Topic:

Sorry, but copying text is forbidden on this website!

The Pacific Oil Company went into negotiations with Reliant 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 dominant point of negotiation would be price. Jean Fontaine, who is the marketing vice president for Pacific Oil, went into a negotiation process with Reliant. Jean started the process several years before Reliant Manufacturing’s contract was up, hoping to beat her competition to the lower price offers and leave with a contract extension of 5 years.

Unfortunately, Jean did not properly research her client’s needs or adequately project what the outcome might be. Because of this, Pacific Oil Company was not prepared to address the concerns and requests that Reliant brought up during the negotiation. Though both 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 plan 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 other elements of the contract might be discussed, but that no dramatic changes would be expected. Because of Pacific’s lack of strategic planning, they wasted valuable time, money, emotional stress and energy. They also risked losing other opportunities that could have been more favorable for them. Adding to the problem was Pacific’s 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 contract’s outcome, Pacific Oil Company became increasingly desperate to finalize a contract with Reliant. As a result, Reliant obtained the advantage needed to make more demands during negotiations. Additionally, Reliant was aware of Pacific Oil’s dependence on its business, and took full advantage of these opportunities.

How to cite this page

Choose cite format:

Pacific oil company. (2018, Jul 07). Retrieved from https://studymoose.com/pacific-oil-company-essay

We will write a custom sample essay onPacific oil companyspecifically for you

for only $16.38 $13.90/page
Order now

Our customer support team is available Monday-Friday 9am-5pm EST. If you contact us after hours, we'll get back to you in 24 hours or less.

By clicking "Send Message", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
No results found for “ image
Try Our service

Hi, I am Sara from Studymoose

Hi there, would you like to get such a paper? How about receiving a customized one? Click to learn more https://goo.gl/CYf83b


Hi, I am Sara from Studymoose

Hi there, would you like to get such a paper? How about receiving a customized one? Click to learn more https://goo.gl/CYf83b


Your Answer is very helpful for Us
Thank you a lot!