Propose a solution to the following Negotiation:

Help me study for my Communications class. I’m stuck and don’t understand.

You are the CEO of Thinkfast, Inc., a high technology firm in Boston. Your top engineer, Jack Lee, has just been offered a position with your leading competitor, Worksmart.com in Illinois. Pay will be $300,000 a year, twice the $150,000 a year he makes at Thinkfast. Jack began his career with your firm and has been a loyal and productive scientist. He is in the final stages of developing a microchip that could provide millions of dollars in new business. No one else on your staff can replace Jack’s expertise. Jack wants you to match the salary offer or he leaves for Worksmart. He cannot take the microchip to a competitor, but he can begin something new for Worksmart, while you try to find someone qualified to take over his old project and position. You currently have a policy (set by you) of frozen salaries until Thinkfast shows a profit, something it has yet to do. Thinkfast is a high-tech startup company that you founded. You are the principal owner. The very survival of your company may be at stake. You need to negotiate the best outcome for Thinkfast.

2 pages for APA style

need reference form the book Essentials of Negotiation

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