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PS 3363 Exam 1 > PS 3363 Exam 1 > Flashcards

PS 3363 Exam 1 Flashcards

1
Q

List the five countries mentioned with negotiation approaches.

A
  1. Chinese
  2. Japanese
  3. French
  4. Mid - East
  5. From around the world
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2
Q

List the approaches from the Chinese

A
  1. Chinese: Quanxi,
  2. Precision in words,
  3. consistency of purpose
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3
Q

List the approaches from the Japanese

A
  1. Japanese: considered response and respectful silence,
  2. seeking heavenly approval (KAN), t
  3. time is money (Japanese style)
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4
Q

List the approaches from the French

A
  1. agree in principle, then negotiate details
  2. Give nothing without getting something in return (Quid-pro-quo)
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5
Q

List the approaches from the Mid East

A
  1. Make negotiations fun
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6
Q

Approaches from around the world

A

Words have a strange way of changing meaning from culture to culture

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7
Q

When a negotiator feels outnumbered, what happens?

A

They feel intimidated

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8
Q

Does setting good targets have a positive outcome?

A

yes

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9
Q

Should you anticipate resistance?

A

yes, because you can prepare for it beforehand

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10
Q

What are SMART targets?

A

Specific
Measurable
Attainable
Relevant
Time

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11
Q

What is the iceberg theory?

A

The tip of the iceberg represents the obvious needs/wants of the buyer. But underneath the surface of the water, is the rest of the iceberg. Which represents their unseen/unspoken needs.

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12
Q

14 Rules of Negotiating

A
  1. Pick the best place and time to negotiate
  2. What is our next choice if this negotiation fails?
  3. Be stingy with concessions and leave room to negotiate
  4. If you are the buyer, don’t give the seller a quick counteroffer
  5. Don’t say yes too quickly
  6. Buyers should get cost breakdowns. Sellers should not give them.
  7. Don’t make the first major concession
  8. Watch your concessions as deadlines approach - big mistakes are made
  9. SHUT UP
  10. Be skeptical
  11. Stop hoping for the best
  12. Watch out for funny money
  13. Do’s and Don’ts if you have to compromise
  14. Be a super-winner. you can always find a better deal for both parties.
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13
Q

What does it mean to lose face?

A

when respect is lost

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14
Q

What is the most important factor in determining the outcome?

A

POWER. The ability to control resources and benefits

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15
Q

what is the most important principle?

A

ALWAYS be a super winner.

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16
Q

Is there such a thing as home-court advantage?

A

YES

17
Q

What is reciprocity

A

If one gives, the other gives

18
Q

Do people lower expectations after success and raise them after failure?

A
19
Q

What’s Quaxi?

A

One of the Chinese approaches. A mutual and loyal friendship saying the successful one will always help the lesser one. And the lesser one will always support the successful one when times are hard

20
Q

Can your boss, after reviewing your negotiation have an impact on how you negotiate?

A

Yes

21
Q

What culture grinds persistently?

A

Chinese

22
Q

Is there a big ALWAYS in creating a win-win according to the author?

A

Yes

23
Q

What’s a counteroffer?

A

an offer made in response to another

24
Q

What is a concession?

A

Essentially when somebody gives in. What they’re willing to give up.

25
Q

What happens when people aspire for more?

A

They get more

26
Q

Do teams take bigger risks than individuals?

A

Yes

27
Q

Who is the management guru Deming, and how did he influence negotiating?

A

he believed that the product purchased would be continuously improved as seller and buyer worked together to find a better deal. Instead of having multiple suppliers.

28
Q

Sam Walton believed the rapid growth of Wal-Mart was a product of the phrase he originated and repeated continuously to his executives. What was it?

A

High expectations are the key to everything

29
Q

What is a super winner?

A

A person who finds a better deal for both parties

30
Q

What are some of the building blocks in the pyramid of negotiation?

A
  1. Power Source and limits
  2. Product and market strategy
  3. Short/long-term relationships
  4. Setting reachable targets
  5. Win-Win strategy
  6. Choosing the right team and negotiator
  7. Motivation Strategy
  8. Information Gathering Strategy
  9. Decision-making strategy
31
Q

What do published rules do for people?

A

Supports their viewpoint,

32
Q

What is a detailed memorandum, and why is it important?

A

I think this is talking about the planning outline for your negotiation. It’s important because it helps you plan, and get your thoughts/arguments organized.

PS 3363 Exam 1 (1 decks)

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