Week 2 - Chapter 1 - Negotiation Fundamentals Flashcards
Negotiation
Multiple Choice and True/False
The act of back and forth communication intended to reach agreement when you and the other side have some interests that are shared and others that are opposed.
What are the three reasons that negotiation occur?
Essay
1) to agree on how to share or divide a limited resource, such as land, or property, or time.
2) to create something new that neither party could do on their own.
3) to resolve a problem or dispute between the parties.
Avoidance (lose- lose) Strategy
Multiple Choice and True/False
The priorities for both the relationship and the outcome are low.
Neither aspect of he negotiation is important enough for you to pursue the conflict further.
Implement this strategy by withdrawing from active negotiation or by avoiding negotiation entirely.
Accommodating (lose to win) Strategy
Multiple Choice and True/False
Identifies the importance of the relationship is high and the importance of the outcome is low.
In this situation one backs off the concern for the outcome to preserve the relationship.
Competitive (win-lose) Strategy
Multiple Choice and True/False
Strategy is used if you want to win at all cost.
No concern about the future state of the relationship.
Assumption is that the future relationship is not important while the specific outcome is important.
Factors in Competitive Strategy
Each side has a bargaining range which consists of Starting point, a Target and Ending point (walking away point).
Starting point in announced or inferred as the negotiation begins.
Target point is one’s aspiration point.
Walk-away point is the cutoff point, usually not known nor stated.
A Good Alternative
An Alternative or BATNA (best alternative to a negotiated agreement) is the option that is pursued if the current negotiation fails.
Collaborative (Win-Win) Strategy
Multiple Choice and True/False
All strategies relationship or outcome (high or low)
There is a high priority for both the relationship and the outcome. Parties attempt to maximize their outcomes while preserving or enhancing the relationship.
This results is most likely when both parties can find a resolution that meets the needs of each.
Compromising Strategy * split the difference
Compromising or middle ground is using a satisfying strategy.
It represents a combination approach that is used in a variety of situations.
It is often used when the parties are under time pressure and need to come to resolution quickly.
