Ethics in Negotiation

by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation

What are ethics and how are they implicated in negotiations?Ethics are broadly applied social standards for what is right or wrong in a particular situation, or a process for setting those standards. Ethics grow out of particular philosophies, which purport to define...

Trust and Relationships in Negotiations

by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation

How do relationships affect negotiation dynamics?Negotiation is fundamentally a communication exercise between individuals. In many negotiations, the other person is the focal problem. The nature of the negotiators interaction and the relationship that ensues has a...

Communication in Negotiations

by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation

What is the significance of communication in a negotiation?Negotiation is essentially an exercise in communication. The underlying objective is to use communication techniques to convince, persuade, or alter the perceptions of another. The three most significant...

Mental Aspects of Negotiations

by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation

What is perception in the context of negotiation?Perception is the process by which individuals connect to their environment, by ascribing meaning to messages and events. This process is strongly influenced by the perceivers current state of mind, role and...

Emergency Banking Act of 1933 – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is the Emergency Banking Act of 1933?How Does the Emergency Banking Act of 1933 Work? What is the Emergency Banking Act of 1933?Emergency Banking Act of 1933 was put into law during the reign of President Franklin D. Roosevelt of USA...

Bank Insurance Fund – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is a Bank Insurance Fund?How Does a Bank Insurance Fund Work? What is a Bank Insurance Fund?Bank Insurance Fund (BIF) is a unit of Federal Deposit Insurance Corporation (FDIC) that deals with the provision of insurance protection for...

Bank Identification Number – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is a Bank Identification Number?How Does a Bank Identification Number Work?Authorization What is a Bank Identification Number?The bank identification number (BIN) is a unique identifier of the institution, and it is the first four to six...

Balloon Payment – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is a Balloon Payment?How Do Balloon Payments Work? What is a Balloon Payment?A balloon payment is huge loan payment due at the end of a balloon term agreed upon between the lender and the borrower. These payments include payment for...

Strategy and Tactics in Negotiation

by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation

What is strategy in a negotiation?Strategy is the orientation or holistic approach of an individual toward achieving an outcome or objective. Strategy is often used to identify the plan for achieving that objective. Collectively, we will use the term strategy to refer...

Distributive & Integrative Negotiations

by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation

What is a distributive negotiation?A distributive negotiation is a situation in which interests or objectives of the parties are the same and are mutually exclusive. These situations are characterized by a finite or fixed amount of resources. The interest(s) or...