Ch. 1 Key Additional Notes

Question 1

_____% of CEOs and Executives leave money on the table or execute a poor negotiation.

Answer 1

80%

Question 2

Many negotiators approach negotiation having to choose between:

Answer 2

getting what they want and being liked

Question 3

________ agreements create an outcome where a negotiator maximizes joint economic value.

Answer 3

integrative

Question 4

Effective negotiators are _______.

Answer 4

principled

Question 5

In negotiations, people hold to the false belief that a ______ _____ mindset is needed and that all negotiation points are either good or bad for the opposite party.

Answer 5

fixed sum

Question 6

Most negotiations are ______ sum, meaning negotiators can work together to create joint value (integrative).

Answer 6

valuable

Question 7

KNOW THIS: Feedback that is important to a negotiation is the counterparty’s ______ and _______.

Answer 7

interests and priorities

(interests and priorities = discovery)

Question 8

T or F: Negotiation is a learned skill and can improve with practice and experience.

Answer 8

True

Question 9

KNOW THIS: In virtually any negotiation, two things are at stake:

Answer 9

1. economic value
2. relationships/trust

Question 10

T or F: You should assume details of negotiations are public and all negotiations have long term implications.

Answer 10

True

Question 11

Fewer than ___% of managers (managers = negotiators) close a win-win deal.

Answer 11

4

Question 12

This course will focus on what 3 things?

Answer 12

1. Creating Value (Integrative)
2. Claiming Value
3. Building Trust

Question 13

What are 3 Keys to Negotiation Improvement?

Answer 13

1. Feedback
2. Strategy
3. Focused Practice

Question 14

_________/_________ is a vital key to successful negotiations.

Answer 14

research/preparation

Question 15

A view that negotiation is a situation in which both parties have incentives to cooperate as well as compete

Answer 15

mixed-motive enterprise