by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
[cite] Back to: ECONOMIC ANALYSIS & MONETARY POLICY Brazil, Russia, India and China (BRIC Countries) Definition BRIC is used to define the idea that by 2050 Brazil and Russia will have become the worlds dominant suppliers of raw materials while China and India...
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...
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...
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...
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...
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...
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...
by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation
How do parties define the issues at stake in a negotiation, known as the bargaining mix? Developing a negotiation strategy usually begins with an analysis of what is to be negotiated or the bargaining mix. Remember, a negotiation concerns situation in which the...
by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation
What is negotiation? Negotiation is a process by which two or more individuals communicate with the purpose of furthering or achieving differing or conflicting perceived interests or objectives. Further, negotiation is an instance in which parties engage in the...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
[cite] Next Article: Closing Up Shop Back to: STRATEGY, ENTREPRENEURSHIP, & INNOVATION Exiting Your Business Many startups begin with the expectation of capitalizing on the firm’s value through a later exit event. An exit event is any method by which the...
