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Negotiation > Test 2 > Flashcards

Test 2 Flashcards

1
Q

How does email affect negotiations?

A

Pros
Ability to think and compose
ability to resist and pressure
may be easier to separate the people from the problem in contentious relationships

Cons
Increased time and effort
tougher to establish a relationship
tougher to convey/assess emotion/personality
tougher to coordinate and develop shared understandings
increased risk-taking

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2
Q

Benefits of using agents

A

provide critical knowledge/expertise
provide access to people / marketplace
HAve relationships needed for success
Enable you to reduce workload

Also
possible scapegoat, if you need to do some bottom fishing, if need to bring on the bad cop

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3
Q

Downside of agents

A

Claim resources (bargaining zone shrinks)
goals may conflct with your own
experience loss of control

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4
Q

How to be a good agent

A

set structural boundaries
consisten information updates to client
“reeling-in” the constituency
Depersonalize to reduce irrationality and hostility

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5
Q

How to be a good client

A

Is an agent needed or desired?
Analyze the incentive structure
Provide your agent some freedom and flexibility
Selectively provide information to your agent

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6
Q

Agency issues

A

buyer’s power to choose many agents to switch to
negotiate a commission rate
understand market independent of your agent
select an agent carefully who plays by rules, reputation of selling high (not frequently)
Experience = higher sales prices
In disclosure state that “nothing conveys” to leave room to added appliances, etc. later

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7
Q

Highlights of selling real estate

A

do not give agent or neighbors information that may reduce your power

do not indicate an desire to move in appearance of house

Auction fever; many potential buyers at home during open house increases interest/demand

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8
Q

Highlights of buying real estate

A

Tell agen to give you information on houses witha large range;
Do not disclose your RP to your agent

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9
Q

REal Estate BATNAs

A

time ressure, don’t reveal; consider renting

Find 3 homes would be indifferent to purchasing

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10
Q

Coalition

A

A group of people who join together to pursue common goals, attempting to influence outcomes

Two or more parties who agree to cooperate toward mutually desirable goal; make an explicit agreement about the division of the attained reward

Power shifts in fragile coalitions lead to defections

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11
Q

Who to include in coalition?

A

minimum number of persons required to achieve your goals

add those who bring more value than they subsequently remove

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12
Q

How be attractive coalition partners?

A

Get in early!
impression management; bring lots of power with minimal demands

Highlight trust and interdependence to strengthen

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13
Q

When do coalitions form? Likely vs. Unlikely

A

Likely
unequal power because one group has nothing to lose or flaunts their power
insufficient individual resources to control the outcome, but combined resources can control outcome
Decision rule is majority rule (vs. concensus)

Unlikely
trust ahs been broken, conflict
powerful party blocks coalitions
insufficient combined resources
communication is restricted
Decision rule is consensus
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14
Q

Flaunting power

A

In 2-party negotiations you want to highlight your power; but flaunting in multi-party negotiation can be dangerous

Flaunting can cause others to coalesce against you, even if not in their own best interest

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15
Q

Multi-party challenges

A 
greater range of:
interests
personalities
relationships
procedural complexity

Coordination (goals and processes) becomes increasingly difficult with each new member

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16
Q

Strategies for multi-party (3)

A

Individual / power based approaches
Coalition formation
group problem solving

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17
Q

Group based problem solving

A

If we work together, what are the chances we succeed?
3 factors predictive productivity:
Actual productivity = Potential productiviy + interaction gains - interaction losses

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18
Q

Potential productivity

A

nature of the task
available resources
process managed effectively?

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19
Q

Interaction gains

A

Social facilitation processes = some perform better when working in groups, more motivated

Group efficacy = believe more in groups, results in us trying harder and longer when others are around

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20
Q

Interaction losses

A

Coordination issues - who speaks first, when, how
Social loafing - people may get laxy, work less hard in a group
Social inhibition - may lose motivation and perform worse in a group; reconcile social inhibition and social facilitation

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21
Q

Managing multi-party negotiations

A

1) determine who to invite (or disinvite)
2) consider appointing a facilitator (interpersonally skilled, granted authority by all parties)
3) establish discussion norms (rules of order, opportunity for voice and info gathering
4) consider utilizing “delphi” technique (gather info on individual parties, combine info, adapt)
5) strive for an initial agreement (form a basis from which to work)
6) brainstorming vs. alternatives

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22
Q

Multi-party tips

A

Understand the decison rule (who decides)

Invent, then evaluate (provide lots of time for exploration)

utilize process aids (visual aids or single text)

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23
Q

Group Superiority Effect

A

Groups tend to be more effective than individuals but individuals tend to be more efficient

Groups learn faster and make fewer errors, but can be less productive

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24
Q

Conjunctive Tasks

A

Performance depends on how well the least talented member is:

  • weakest link
  • teams usually do worse than individuals

group size negatively correlated with performance

Heterogeneity: decreases productivity in conjunctive tasks

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25
Q

disjunctive Tasks

A

Performance depends on how well the most talented member is:

  • teams more effective than individuals if the most talented member can convince other team members to go along; high tide lifts all ships
  • works best when unique information is shared and there is one obvious best solution that can be demonstrated

group size positively correlated with performance , but diminishes if team gets too large to effectively manage

Heterogeneity - increases potential productivity in disjunctive tasks

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26
Q

Team Negotiations

A

Added challenges: greater range of interests, personalities, relationships, procedural complexity
Tend to result in more integrative agreements
- more information exchange about interests and priorities
- individuals and teams both tend to believe that the team has an advantage
- 2-7 team members optimal; larger teams have coordination issues
- Structure: leadership issues, social status / power of individuals
- Roles: expected behaviors of positions; divisions of labor/specialization

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27
Q

Team communication

A

Each member has unique information
- need to pool that information
Common information bials
- teams tend to focus on common info rather than the more useful unique info

28
Q

Conflict Defined

A

Conflict - interdependent people perceive incompatible goals or interference with goal achievement
- Direct interactionas a CHEAP means for resolving conflict/difference
we initiate based upon our perceptions of difference

29
Q

Conflict downsides

A

Negativity, pessimism, frustration, criticism and blame, increased pitch and volume
Can be beneficial, but could also spiral downward into ugly behaviors and personalization

30
Q

When do things go wrong?

A

Norm violation noted, rejection, personal attacks/insults, sarcasm and aggressive humor
- anything that pulls away from tasks, toward the personal

31
Q

Benefits of conflict

A

signals growth and opportunity
yield focus and energy
gets problems into the open
demonstrates effort and interest

32
Q

Three approaches to resolving Disputes

A

Focus on interests - what do they really want and why?
Focus on rights - who is right and do they have a right to their claim
Focus on power - What forms of coercion, who can hurt the other most effectively

33
Q

Interest Based Approach

A

Exploring the nature of the problem, building an environment that promotes exchange, probing questions
Requires tolerance of conflict - rigid interests, flexible means to achieve goals
Pros
- more likely to reach agreement
- more likely to abide by the agreement
- more satisfying

Cons

  • Added time and energy
  • what if there is a “right” answer?
34
Q

Rights Based Approaches

A

Must search for an OBJECTIVE view; turn to social standards, legal standards
Pros
- great when a clear standard exists
- better for having broad impact, setting precedent
- divide issues fairly; good for single issues

Cons
Competing standards
Biased use of standards
- can become about values, which are usually non-negotiable
- usually need 3rd party assistance
35
Q

Power: Foundations

A

Ability to accomplish objectives and overcome resistance; coerce or inflict harm

36
Q

Sources of Power

A

RICE
Resource control - dependency, value
Interpersonal linkages - quantity, quality
Communication Skills - advocacy skills; strategy use
Expertise - a form of resource control

37
Q

Powers and Threats; Levels

A

When you make a threat, will be judged on three levels:
1 - Magnitude of harm
2 - Probability of being carried out
3 - Can/will this solution meet my interests and solve my problem?

38
Q

Power Strategies

A

Higher power players - messages from powerful people carry added weight

  • externalize your power
  • give opportunity for voice
  • don’t oversell, soften your demand

Low Power players - dont fixate on a single source, use extreme caution when pushing powerful people

  • search for alternative power sources
  • change the nature of dependency
  • realize that the onus is on you to be creative
39
Q

Power Costs / Benefits

A

Pros

  • sometimes outcome more important than relationship
  • need for speed of implementation
  • previous efforts have failed/stalled
  • vengeance is key

Cons

  • significant costs
  • can be viewed as aggressive, could create enemies
  • short term results, long term pain
40
Q

When to use rights and power

A

when other party wont come to the table
when negotiations are at impasse and all other attempts fail
when moving toward agreement and parties are positioning themselves

41
Q

How to maintain interest based approach

A

Dont reciprocate contention
dont get personal or take personal
Be willing to reciprocate concessions
Attempt process interventions

42
Q

Responding Counter-intuitively

A 
Avoid the tendency to push back, create incompatible responses
REfrae as a problem to be solved
invite criticism for your proposals
ask quesions, "what if"
create strong BATNA
43
Q

Steps to calm angry party

A

1) Solicit information - what happened
2) acknowlegement / Apology - acknowledge emotions
3) Clarify intentions, manage impressions
4) Potential restitution
5) Future relations…looking forward

44
Q

Succeeding in conflict - 5 themes

A

Work on timing
Reduce tension early in the process - spend more time learning before hard decisions
Recognize and highlight similarities, empathize, seek shared goals or interests
Depersonalize
Troubleshooting: change the process

45
Q

Neutral party pros and cons

A 
Pros
Increased rationality
positive climate - "best behavior"
creativity - rational solution seeker
motivation

Cons
higher levels of investment - more people more $$
Added layer of complexity
Loss of control

46
Q

3rd party impact: Motivation

A

Power to bring parties together
power re: incentives
power to add resources and impact outcomes
What mandate is given?

47
Q

3rd Party Impact: Outcomes

A

Arbitration - seeking an outcome ruling from an outside party
History - union vs. management
Variations - voluntary vs. compulsory; binding vs, non-binding; conventional vs final offer

48
Q

3rd party impact: Processes

A

Mediation and process consultation - manipulating behaviors; helping to facilitate an agreement through disputants

49
Q

Ethics

A

Applied values

Moral principles that set standards of good or bad, right or wrong in one’s conduct

50
Q

Drivers of unethical behavior

A

Profit -
Competitiveness - thrill of victory
Justice - sweet irony of fairness
Lack of preparation - we don’t anticipate the tough questions

**First 3 are red flags - opponents tempted to take an unethical approach

51
Q

Fraud

A 
knowingly misrepresenting material facts on which the victim reasonably relies, causing damage
4 areas:
Knowledgeable misrepresentation
Material facts
victim reliance
causing damage
52
Q

Knowledgeable misrepresentation

A

Does your partner intentionally give a false impression
Deception vs delusion
reasonalbe knowledge
Sins of commission vs omission - commission riskier

53
Q

material facts

A

material central or critical to decision making

Factual - not opinion based, subject to testing

54
Q

Bluffing vs. Fraud

A

Bluff - exxaggerated demand; concealing bottom line; creating an enhanced perception of strength
Fraud - telling lies or allowing misperceptions via important facts, verifiable data, known plans or intentions

55
Q

victim reliance

A

burden of proof for fraud rests with the victim

56
Q

causing damage

A

How much was gained vs. lost

57
Q

Ethical bargaining tips

A

Set standards that provide ample cushion between you and the law
bring HEALTHY SKEPTICISM to the table, especially when red flags arise

58
Q

Cross culture basics

A

shared ways of thinking/acting = expectations
passed via rituals, narratives
Iceberg!!

59
Q

Trompenaars’ Model: Onion

A

Layer 1 - visible/visual reality
Layer 2: norms and values
Layer 3: unquestioned, basic assumptions

60
Q

Cultural Challenges

A 
Uncertainty and anxiety
Rapport and respect more difficult to build and maintain
communication barriers
becomes harder to make good solutions
harder to reach agreements that last
61
Q

Individualism

A

Personal achievement, separate personal and professional, independence, efficiency > loyalty

62
Q

Collectivism

A

highlights in group ties, welfare and responsibility, group/company takes care, honors loyalty

63
Q

Power Distance

A

Egalitariansims - minimizes the importance of wealth/status, seeks equality
Hierarchical - guided by status, deference to social order

64
Q

Remedies to cultural trap

A

seek to establish BALANCE
Recognize cultural differences, be cognizant
DELAY judgements, hesitate
seek interpretations of culture-based members
Re-structure our environment to maintain comfort
f

65
Q

Top 5 Pithy Negotiation Tips

A

1) Prepare x3
2) Develop your BATNA
3) Take time to build rapport
4) Always seek to understand interests and priorities
5) Search for high quality deals - ethical, rational, efficient, socially, beneficial, stable

Negotiation (2 decks)

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