Ch4 Flashcards

1
Q

what are the flow of the key steps in the planning process

A

GOALS > STRATEGY > PLANNING

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1
Q

what is better for skilled negotiators?

A
  1. explored a wider range of options for action;
  2. worked harder to find common ground with the other party;
  3. spent more time considering the long-term implications of their agreement; and
  4. were significantly more likely to set upper and lower limits, or the boundaries of a range of acceptable settlements.
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2
Q

What are the 4 ways that goals affect a negotiation

A

a. specific and focused target! not a wish
b. goals are often linked to other parties goals
c. limiations to realistic goals
d. effective goals must be specific, conrete, measurable

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3
Q

what are the destructive cons of having goals?

A
  1. being too focused can make us overlook other issues
  2. if goals are too ambitious they can obstruct an agreement
  3. can promote unethical behaviours
  4. being too focused on goals may revent people from LISTENING AND CREATING VALUE
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4
Q

what are intangible or procedural goals?

A

maintaining a reputation

procedural: ensuring the other party concenes more than I do

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5
Q

how can the goals of a party influence the strategy of choice

A

if the goals are short term we focus less on relationship builidng and are distributive

if the goals are long term we are okay to be mroe integrative

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6
Q

strategy vs tactics

A

Tactics are short-term, adaptive moves designed to enact or pursue broad (or higher-level) strategies, which in turn provide stability, continuity, and direction for tactical behaviors.

Tactics are subordinate to strategy; they are structured, directed, and driven by strategic considerations.

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7
Q

3 types of strategies

A

Competitive (I win you lose)

Integrative (I win you Win)

Accomodation (I lose you Win)

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8
Q

What is an accomodative strategy?

A

used when one considers relationship> outcome

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9
Q

cons to using distributive strategy

A

focused too much on self and not listening enough, creates conflict

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10
Q

cons to using Integrative strategy

A

mamy be taken avantage of

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11
Q

cons to using Accomodative strategy

A

If you are always giving up to win then it is very bad for longterm satisfaction

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12
Q

10 steps in creating a strategy

A
  1. Defining the negotiating goal.
  2. Defining the major issues related to achieving the goal.
  3. Assembling the issues, ranking their importance, and defining the bargaining mix. (what issues can we trade off for a n aeasy win)
  4. Defining the interests.
  5. Knowing your alternatives (BATNAs).
  6. Knowing your limits, including a resistance point.
  7. Analyzing and understanding the other party’s goals, issues, and resistance points.
  8. Setting one’s own targets and opening bids.
  9. Assessing the social context of negotiation (for example, who is at the table, who is not at the table but has a strong interest in the negotiation outcomes, and who is observing and critiquing the negotiation).
  10. Presenting the issues to the other party: substance and process.
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13
Q
  1. defining the negotion goal
A

tangible, intaginble, procedural goals; can have direct and indirect effect on strategy

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14
Q
  1. Defining the Major Issue Related to Achieving the Goal
A

single issues: typically distributive

multi issues: typically integrative

but can be swapped!

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15
Q
  1. Assembling the Issues, Ranking Their Importance, and Defining the Bargaining Mix
A

make a ccomprehensive list!!

large bargaining mixes increase the different “packages” that parties would be happy with AS LONG AS ALL ISSUES ARE REAL!

-> assign issues most to least important
-> address intangible goals as well
-> determine which issues are connected/separated

16
Q
  1. Defining the Interests
A

WHAT ARE THE UNDERLYING NEEDS?

interests may be:
1/ susbtatinve
2/ provess based
3/ relationship based

interests can offer incentives! sometimes you do extra for the other party cuz you meet an UNDERLYING interest of yours

17
Q
  1. Analyzing and Understanding the Other Party’s Goals, Issues, and Resistance Points
A
  1. WHAT ARE THEIR BROAD GOALS
  2. what is their bargaining mix
18
Q
  1. Assessing the Social Context of Negotiation/PROTOCOL
A

“Field analysis” of negotiation

19
Q
  1. Presenting the Issues to the Other Party: Substance and Process
A

how you will present and frame the issues and interests: WHAT ARE THE FACTS YOU WILL USE TO SUPPORT UR ARGUMENT?

how you should structure the process by which this information is presented.

What agenda should we follow?
-Scope: What issue should be considered?
-Sequence: In what order should those issues be addressed?
-Framing: How should the issues be presented
-Packaging: Should the issues be taken one at a time or in various groupings/packages?
-Formula: Should we strive to first get an agreement on general principles, or should we immediately begin to discuss each of the issues?

20
Q

before the deal breaks down:

Build a relationship with the other side that can be used in case the deal falters.

Take the time to build the relationship.

Provide for mechanisms to renegotiate if the deal breaks down.

Consider how to involve a third party if the deal breaks down

A

After the deal breaks down:

Avoid negativity and anger.

Decide whether what you want to renegotiate could ruin the relationship—and whether it is worth it.

Create new value through the renegotiation.

Fully evaluate the costs of failure.

Involve all the critical parties.

Design the right environment and process to do the renegotiation.

21
Q

7 phases of a negotitiaon

A

prep

relationship building

info gather

info using

bidding

closing the deal

implementation

22
Q

PARETO FRONTIER

A

OPTIMAL RESULT IN NEOGITION

23
Q

An agreement is defined as pareto efficient when there is no
other agreement that would make any party better off without
decreasing the outcomes to any other party.”

“With any pareto inefficient agreement, there exists an
alternative that would benefit at least one party without
injuring any party

A
24
Q

in suboptimal pareto fronteir outome

A

value that could have been created is lost

25
Q

What opportunity does the
presence of pareto optimal
outcomes represent

A

Value that is created can be
claimed

26
Q

how does the pareto frontier work?

A

Issues that can be traded off (logrolling) due to differences in:
* Priorities
* The Assessments of the Probability of Future Events
* Risk Preferences
* Time Preferences

27
Q
A