Negotiating in the workplace

Question 1

Social capital

Answer 1

Sum of the resources a person possesses as a result of investments.

Question 2

human capital

Answer 2

knowledge, skills, and abilities a worker possesses as a result of native ability and “raw labor power.

Question 3

relational capital

Answer 3

a negotiation-specific form of social capital, which focuses on the relational assets.

Question 4

Negotiation requires a different way of thinking

Answer 4

The aim is to satisfy the client, without giving up too much in the process.

Question 5

common interests include

Answer 5

quality level of the products and services offered,
ongoing product service and support, delivery schedules and terms, and even transfer of ownership.

Question 6

negotiation perspective

Answer 6

seeks to build a relationship, create value, and negotiate the best deal possible.

Question 7

Request for Proposal (RFP)

Answer 7

A formal request from a customer for a potential supplier to submit a proposal to supply goods or services.

Question 8

Outsourcing

Answer 8

The organizational practice of transferring work to outside suppliers rather than completing it internally

Question 9

Idiosyncratic deals/I-deals

Answer 9

A nonstandard agreement between an employer and an individual employee.