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What is my offer for this rock: Public information: My Team: (you are doing this task as an individual you are pretending to have a team) Spouse Accountant Enjoys travel and wants to live a comfortable life...but Wealth is not important Executer of Estate: Lawyer and relative Already Personally wealthy No financial requirements Me and relevant facts: I am a retired Professor of geology from XYZ Univ (able to be proven) o But I specialized in moon rocks not precious metals The rock I have for viewing weighs 16 oz It contains 2 oz of gold I can extract the gold for you for $500 The current market price of gold is $2000 per ounce The normal cost of extraction is $1000 per ounce but my sample is a very high yielding sample. Therefore, the cost of extraction would be very low ($500). But...I went to school with the King of the country and he has given me exclusive rights to the area where the gold is found The questions and offer (from you) will be public Found in a stream in a remote gorge in Wadi Rum in Jordon (a national park) My spouse and I do know exactly where it was found, although you would need a Bedouin guide o After I give you directions you still need a guide It is near an old volcano, but there are many in the area o Gold is always found near volcanos but I know this as I am a Geologist! It is near the Saudi border and the Gulf of Aqaba o There is no one living in the border area due to security reasons I was trekking thru the area with a Bedouin guide There are many (millions) more rocks like this one and they are much larger I will sell the rock; the information about where the rock came from; extract the gold from the rock; or take you to the exact location from which it came But... I am dying of cancer, and I have six months to live I have a spouse but no other relatives I only want cash (bank check or electronic transfer) I cant carry the other rocks out of the gorge too heavy You will represent one of the types of companies (or people) that the Professor is selling to!! The types of companies (or people) that I am selling to choose one and only one Local gold buyer (jewelry store) (back home) National gold buyer Miner specializing in gold Investor wealthy My cancer doctor (I owe him $100,000) Tasks to do: (Post your suggested answers on Canvas) 1. Determine the strategy of the negotiations choose one of the following three strategies from the point of view of the company you have chosen a. We both win (common in the US) b. I win, you lose c. You win, I lose 2. Determine the questions to ask the Professor to insure your success with your chosen company...but there is no more information 3. Write a value statement based on the value to each of the stakeholders a. The Professors and your chosen company thus, two statements using the strategy you have chosen (win win; win lose; lose win) b. In other words, the Professor can receive significantly more $$ depending on the company chosen but also he can receive significantly more and different value depending on the company chosen c. What is that value?? 4. Who would be the best person/company to sell too? (this is as if you are the Professor) and why? Different Pricing scenarios: Cost plus price: Cost of my trip to Jordon? - $4000 (but I only have six months) Cost of guide? - $200 Cost of my time and expertise? - $2500 per day Competition based price: (what does the competition pay for the same material) Gold that is already in gold form coins, etc. is $1700 per ounce ...and it is available in large quantities Processed rock containing raw gold is a competitor Value based: (questions to answer) What am I providing in value? o Location (of the gold) o Expertise (personal) o Information (of where to find the gold) o Access I have the only rights to the area to mine