With $100 Million Gift, Steve Ross Honors the Past, Looks to the Future - Stephen M. Ross School of Business, University of Michigan (2004) - Negotiating with the Dean

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With $100 Million Gift, Steve Ross Honors the Past, Looks to the Future - Stephen M. Ross School of Business, University of Michigan (2004) - Negotiating with the Dean

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Negotiating, Steve Ross, business School, Dolan, Time Warner Center, relationship

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Abstract

It was Steve Ross who first came up with a number: ""I really want to help you so I figure fifty minimum," Ross said." This is not the best strategy because the price can be discussed and not to his favour. He later says that $50 million is rather common in similar cases. He thought the Dean was not a very good negotiator but it happened that the dean knew how much he needed and what for.

How did Dean Dolan build a relationship with Stephen Ross?
Dean Dolan was able to identify Stephen Ross's underlying interests in making the gift. What were these interests?
Who presented the first number—the Dean or Stephen Ross? Was this a good strategy?
If you were the Dean, what would be your reservation price?
What objective criteria did Dean Dolan use during the negotiations?
What do you think was Dean Dolan's BATNA?
What grade would you give Dean Dolan based on his negotiation skills, on a scale from 1-10 where 10 is the highest score?

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[...] With $100 Million Gift, Steve Ross Honors the Past, Looks to the Future - Stephen M. Ross School of Business, University of Michigan (2004) - Negotiating with the Dean During our first class, we discussed the importance of building a relationship with the other side in a negotiation. How did Dean Dolan build a relationship with Stephen Ross? He starts the negotiation with casual topics of conversation and built an honest relationship where both men could develop their points of view on the University. [...]

[...] - Finally, to create a modern and sophisticated facility, to renovate the old buildings, and to create new ones that are attractive, a 100 million seems to be a fair price. What objective criteria did Dean Dolan use during the negotiations (based on information in the article)? The importance of a collaboration between Deans and donors. He gave examples of gifts, precedences that exceeded the amount he is asking for. For the first time a business school would be named, and Ross would get the benefit of it. He hired a company to estimate real-estate cost for the new premises: he then provided a real market value. [...]

[...] To make a name of himself and assert his personal power (interest-based) To be the second member of the family to name a business school They share the same goal: to elevate the University of Michigan Business School to the same level than Harvard. To not be linked to his uncle anymore Who presented the first number the Dean or Stephen Ross? Was this a good strategy? Why? It was Steve Ross who first came up with a number: really want to help you so I figure fifty minimum," Ross said." This is not the best strategy because the price can be discussed and not to his favour. [...]

[...] What grade would you give Dean Dolan based on his negotiation skills, on a scale from 1-10 where 10 is the highest score? Why? I would grade him rather high because he never mentioned his BATNA in the first place - although he wanted Ross to end up naming such a price. He was convinced that there was an emotional involvement on the part of Ross and thus, that he would agree on giving more than was he first announced. [...]

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