$0.00 – $6.00
Monica Giannone and Lara SanPietro
Euro-Idol is a four-party, two-round international business negotiation over the selection of the host country and city for the upcoming Euro-Idol music competition.
Euro-Idol is the longest-running international singing competition featuring contestants from European and other invited countries. Every year, each participating country independently conducts a national song competition to choose its country’s “Idol” to represent it at Euro-Idol. Hosting the Euro-Idol competition is one of the most prestigious and sought-after events a country and city can bid for, often compared to hosting the Olympics or the World Cup. Euro-Idol has the potential to bring economic benefit and prestige to cities that are granted this privilege. Typically, the winning country of the previous year’s competition has priority in conversations about hosting, if they choose to be considered. But this pattern was disrupted after the 2020 competition was cancelled, due to coronavirus. Now, countries are free to directly apply to host Euro-Idol’s competition. After a country is chosen by the Euro-Idol Corporation, it is up to the country to choose the city. The Kingdom of Denion is entering the negotiations with the Euro-Idol Corporation in an attempt to secure hosting the upcoming competition.
This negotiation takes place in two rounds. The first round is between the Euro-Idol Corporation and the prospective host country of Denion. If the Euro-Idol Corporation and Denion can come to an agreement, the second round of negotiations takes place between the cities of Bardane and Eindborg, as well as the Denion Office of Special Events, to determine which city will host the competition. Major lessons of this simulation include:
- Acquire competencies in negotiation preparation, defining BATNA, process, management and agenda setting, uncovering interests, sequencing and packaging issues, and uncovering sources of power in negotiation.
- Acquire skills in negotiating based on changing information and/or information decided by others.
- Understand sequencing issues between rounds and how to build momentum for a deal.
- Negotiate effectively in a process set up to incentivize winner take all (a bidding process).
- Manage waxing and waning relevance.
Materials for this simulation are:
- General Instructions (for all parties)
- Confidential Instructions for the Representative from the Euro-Idol Corporation
- Confidential Instructions for the Representative from the Denion Office of Special Events
- Confidential Instructions for the Representative from Bardane
- Confidential Instructions for the Representative from Eindborg
- Update Memo (in the case of no deal in Round I or a deal not to proceed with Denion)
- Results Sheet for the Representative from Euro-Idol Corporation
- Results Sheet for the Representative from Denion Office of Special Events
|Time required:||4 hours|
|Numbers of participants:||4|
|Neutral third party present:||None|
|Teaching Notes Available:||Yes|