1. Key Concepts in Negotiation

Key Concepts in Negotiation

Flashcards

Q1
The process by which two or more individuals communicate with the purpose of furthering or achieving differing or conflicting perceived interests or objectives.

Q2
In a negotiation, the parties have the parties always have the option of arriving at more than one outcome. True or False

Q3
For parties to negotiate, each party believes that communicating with the other party will allow her to further her interest or objective in the situation. True or False

Q4
What scenarios or situations lead to a negotiation or cause parties to negotiate?

A4
actual or perceived conflicts of interest between two parties; and Actual or perceived conflicting objectives of the parties.

Resource: https://thebusinessprofessor.com/knowledge-base/influences-leading-parties-to-negotiate/

Q5
In a negotiation, the parties may desire to:

  • align their actions (or inactions) in support of an interest or objective;
  • resolve a problem or dispute that exists (or may arise)

Resource: https://thebusinessprofessor.com/knowledge-base/influences-leading-parties-to-negotiate/

A5
align their actions (or inactions) in support of an interest or objective; resolve a problem or dispute that exists (or may arise)

Resource: https://thebusinessprofessor.com/knowledge-base/influences-leading-parties-to-negotiate/

Q6
What characteristics are common to all negotiations?

A6
Two or more parties

  • A need to align interests or objectives or to resolve a dispute
  • A desire to negotiate;
  • Constraint by or aversion to the alternatives to negotiating; and
  • An interplay of situational and party characteristics.

Resource: https://thebusinessprofessor.com/knowledge-base/characteristics-common-to-all-negotiations/

Q7
What are the differences among negotiators that affect the negotiation process?

A7
Nature of conflict or dispute:

  • Interests and objectives
  • Cognition (logic, philosophy, emotion, perception)
  • Disposition (outlook, aversions)
  • Situational Constraints (time preference or limits, resources, geography, culture, language, communication medium, group or team negotiations, agency relationships, etc.).

Resource Videos: https://thebusinessprofessor.com/knowledge-base/differences-in-negotiator-affect-negotiation-process/

Q8
Interpersonal Conflict regards the conflict between different individuals or parties. Sub-classifications of inter personal conflict include:

Q9
In ____________ conflict, the parties cannot act or otherwise achieve their interests or objectives without interacting with (negotiating with) another party with the same or similar interests or objectives.

Q10
In some interpersonal conflicts, the parties cannot achieve their interests or objectives simultaneously without one party to benefit at the expense of another. True or False

Q11
The conflicting interests and desired outcomes of parties can be presented in a two-dimensional framework, known as a _____________.

Q12
Which of the following major negotiation strategies (strategic orientations) for conflict management are identified in the dual concerns model:

A12
Contending

  • Yielding
  • Inaction
  • Problem solving
  • Compromising

Resource Video: https://thebusinessprofessor.com/knowledge-base/resolution-conflict-and-strategic-orientation/

Q13
________________ concerns the extent to which parties to a conflict rely on the other to achieve an outcome or resolution of the conflict.

Q14
In a ________________, parties to the negotiation are able to achieve their interests or objectives without assistance from another party. That is, the negotiator focuses on her personal interests or objectives without regard to the interests or objectives of the other parties.

Q15
In a ________________, , a party’s ability to achieve her interests or objective depends entirely upon the actions of the other parties.

Q16
In a ________________, parties have mutual dependence on each other.

Q17
_____________ is a negotiation in which the interest or objective of both parties is the same, finite, and mutually exclusive.

Q18
_____________ is a negotiation where the interests and outcomes of each party are not mutually exclusive; rather, both parties to the negotiation may be able to obtain a more favorable or desirable outcome than they could achieve without negotiating.

Q19
_____________ Is a negotiation in which the interests of objectives of the parties are the same and NOT mutually exclusive.

Q20
The _____________ is the most advantageous alternative for a negotiator if no agreement is reached in the negotiation.

A20
Best Alternative to a Negotiated Agreement (BATNA)

Resource Video: https://thebusinessprofessor.com/knowledge-base/batna-and-the-significance-of-alternatives/

Q21
The ____________ will determine the negotiators willingness or propensity to negotiate and will determine the extent to which she is willing to “adjust” her position in the negotiation.

A21
Best Alternative to a Negotiated Agreement (BATNA)

Resource Video: https://thebusinessprofessor.com/knowledge-base/batna-and-the-significance-of-alternatives/

Q22
The _______________ (also known as a resistance point) is the point in the negotiation or minimum acceptable terms before the negotiator ceases to negotiate and walks away.

Q23
If the terms of the negotiation cannot meet or exceed the reservation point, the negotiator may walk away from the negotiation.

Q24
Each party’s reservation point establishes the ______________.

Q25
A _____________ is the adjustment of a negotiator’s bargaining position to accommodate the position of the other party.

Q26
Any adjustment in the negotiation (concession) is done to bring the parties within the _____________.

A26
Zone of Potential Agreement (ZOPA)

Resource Video: https://thebusinessprofessor.com/knowledge-base/significance-of-concessions/

Q27
The opening offer and response in a negotiation are known as the parties’___________.

Q28
The anchor points of each party in the negotiation establish the _________.

Q29
Which of the following are personal and situational factors commonly understood to affect negotiation?

A29
  • Trust
  • Relationships
  • Culture
  • Medium of Communication
  • Intermediaries

Resource Video: https://thebusinessprofessor.com/knowledge-base/personal-and-situational-factors-affecting-a-negotiation/