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Management 402 > Midterm Exam > Flashcards

Midterm Exam Flashcards

1
Q

Negotiation Course Model

A

Top - Scenario: Definition, Distributive, Integrative, Games, Relationship, Mixed

Middle - Analysis: tools, tactics, take away lessons

Bottom - Action: before, during, after

Context

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2
Q

Wars

A

Ongoing, long lasting, more intense

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3
Q

Fights

A

revenge (personal attacks, hurting becomes goal), ill intentions, emotional

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4
Q

Conflict

A

seek a resolution (expressed disagreement), two or more parties have incompatible goals

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5
Q

Disagreements

A

2+ parties have two or more positions on a given issue

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6
Q

Negotiation vs. Persuasion

A

exchange of resources, 2 or more parties have power, deliberate (exchange of resources) vs. 1 party having power

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7
Q

arbitration

A

binding, third party has all power ex. courts, parents

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8
Q

mediation

A

the third party who does not have power over the final decision- they facilitate.
Models facilitator gives solutions vs negotiator comes up with their solution

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9
Q

Med-Arb

A

start out as a mediator, trying to get the parties to come up with their own solution. They won’t agree, so you turn to arbitration and make the decision.

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10
Q

Back & Fourth Moves

A

Demand
Concession
Commitment
Sold

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11
Q

Types of Negotiations

A 
buyer/seller
job offers
salary 
workload (roles & responsibilities) 
suppliers 
bank loans
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12
Q

Effective Negotiations

A

wise - good agreement holds over time
amicably - keep relationships in intact (90% business negotiations involve on-going relationships)
efficiency - not drawn out

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13
Q

Disruptive

A

fixed pie
zero-sum game
*one party’s gain is another parties lose

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14
Q

integrated

A

expand the pie

variable sum game

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15
Q

mixed

A

toyota car - 5-year warranty

(ex: the cost of a car is distributive, the warranty is integrated, oil changes distributive, financing integrated.

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16
Q

ZOPA

A

zone of possible agreements aka bargarganing range

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17
Q

Utility

A

Up to 6 — Resources being negotiated

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18
Q

Four Points

A
  1. target
  2. resistance point
  3. starting offer
  4. Batna - best alternative to a negotiated agreement
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19
Q

SEU Formula

A

SE u= (probability * utality) - [(1-P)*Costs]

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20
Q

Pie Slicing Strategies 1 - 3

A
  1. assess your batna and improve it
  2. Determine your RP but dont reveal it unless
    * getting really close to the end
    * reveal your batna
  3. research the other parties batna and estimate their RP
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21
Q

Pie Slicing Strategies 4

A

set high, optimistic aspirations. be aware of goal setting paradox -
set high goals, rarely hit them
set low goals, always hit them

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22
Q

Pice Slicing Strategies 5

A

make the first offer
Research: the first offer has a .85 correlation to final
Pitfall: do not make a range (will choose lower end of the range)
Pitfall: premature concessions - meaning do not give in too easily.

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23
Q

Pie Slicing Strategies 6

A

Immediately re-anchor if the other party opens first (with a bad anchor)

tactic: if they have an extreme first offer, be extreme back
tactic: prepare your opening offer before you even hear theirs.

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24
Q

Pie Slicing Strategies 7

A 
Plan Your concessions
pattern: unilateral, bilateral 
magnitude: bigger than the other party/even split
black hat/white hat or reverse 
timing: immediate, gradual, delayed
25
Q

Pie Slicing Strategies 8

A

support your offer with facts

objective criteria or rationale behind a position

26
Q

Pie Slicing Strategies 9

A

Appeal to 3 norms of fairness

  1. equity - input/output “how hard I worked”
  2. equality - everyone gets equal
  3. need - person needs more
27
Q

Pie Slicing Strategies 10

A

Do not fall for the “even split” ploy

28
Q

Roommate Negotiations

A

Can I live with you quiz

Take Aways: create a contract before the relationship begins.

29
Q

Marital Negotiations

A

can easily change between negotiations, conflict & fight

Takeaways: emotional response (intimate, children, etc)

30
Q

Schema

A

mental representation
ex: accountant - white shirt
lumber jack - flannel

31
Q

stereotype

A

generalizing about a person based on the group to which they belong too (making conclusions)

32
Q

discrimination

A

action, unfair, judgment based on a group to which someone belongs

33
Q

ethnocentrism

A

act or think as if your own culture is “superior” - as to different

34
Q

perspective

A

Do & Dont’s of a given culture.
ex: if you ask Saudis to list what they agreed to, they will take it as a sign of distrust
japneses will be offended if you do not treat their business card with respect

35
Q

variable analytic

A

variables to study for any given culture
ex: formality. know when to bottle it up or let it all out

expressiveness, demonstrate emotions
formality (clothing, terms of address (miss/mr)
trust propensity
directness vs indirectness
high context (overall picture, read between lines, non-verbal, squarril & tree) vs low context (takes words to be literal, messages should be literal, seagull and squairral(

36
Q

human universals

A

communication patterns that hold across all cultures
ex: treat others how you would like to be treated
emotions (angry, scared, disgusted, suprised, happy, sad)

37
Q

Hofstede Four Main Variables

A

collectivism vs individualism
power distance (willingness to accept differenes in status)
uncertanity reduction - tolerance for ambiguity
masculinity (competitive, agressive, assertive vs feminity (nurturing)

38
Q

egalitarian

A

the extent to which men and women are treated equally

39
Q

games

A

*individual set of decision makers (players)
*strategy (make choice from a set of alternatives)
*payoffs depend on what you and others do
*you do not know what they will do but you do you know *what they could do
they do not know what you will do
*you know the other parties choices
*no cheal talk - pre play communcation

40
Q

ultimatum scenario

A

one person is in a position to give an ultimatum to another person but the other person must accept it

41
Q

dictator scenario

A

one person is in the position to make an offer and the other party must accept it

42
Q

Tragedy of the Commons

A

where all parties must cooperate to win, if any party cheats; you all loose
ex: climate change, fishing industry, oil cartels, airline fare wars, united nations trust, nuclear war

43
Q

Prisoner’s Dilemma

A

The prisoner’s dilemma is a standard example of a game analyzed in game theory that shows why two completely rational individuals might not cooperate, even if it appears that it is in their best interests to do so.

44
Q

bidding: hidden or open

A

a scenario in which parties compete with bids to attain a deal. the bidding may be hidden or open (Batna)

45
Q

social dilemmas

A

social dilemmas involve more than two parties. what is rational for individuals is not rational for the group.

46
Q

framing

A

framing a message focuses attention on data and premise within.
ex: frame a speech - title, frame a negotiation - starting offer

47
Q

status quo bias

A

bias against change, accepting an offer when you have a better BATNA may either reflect this bias.

48
Q

strategic sophistication

A

when anticipating a negotiation, do you prepare for a sophisticated party or an unsophisticated part. how does this influence your moves? Sophisticated - go easier, unsophisticated - go harder

49
Q

risk propensity

A

the extent to which people are willing to take risks, generally framing outcomes as gains or losses
Risk aversion or risk seeking

50
Q

endowment effect

A

an irrational value placed on an object because of sentiment
ex: a color of the car, wedding dress

51
Q

false analogy

A

compares two things that are not alike in significant respect or have critical points of difference
ex: Cuba & aids or England & guns

52
Q

hasty generalization

A 
draws conclusions about a class based on too few or atypical examples
ex: cheap, flexibility
53
Q

single cause fallacies

A

occur when an advocate attributes only one cause to a complex issue
ex: relationship breakup (broke up because of bikini issue)

54
Q

slippery slope

A

assumes without evidence that a given event is the first in a series of steps that will inevitably lead to some outcome
ex: weed is the gateway drug

55
Q

ad hominem

A

an irrelevant attack on the person or source originating an argument instead of responding to substantial issues raised in the argument.
ex: lawyer attacking a defendants character rather than addressing or questioning the case

56
Q

ad populum

A

occurs when the substance of an argument is avoided and the advocate appeals instead to popular opinion as a justification for the claim.
Ex: Japanese cars, song should be good because its in the top charts

57
Q

appeal to tradition

A

someone claims we should continue to do things the way they have always done them simply because they have been done that way
ex: pay practices, parenting roles

58
Q

begging the question

A

assumes a premise as evidence for an argument that is the very claim or point that is in question
ex: you should not let her in the boy scouts club because its an all-male organization

59
Q

nonsequiter

A

a claim that is irrelevant to or unsupported by the evidence or premises purportedly supporting it.
ex: you don’t care about your job. look how much you put into your school work that’s what you care about.

Management 402 (1 decks)

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