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44 Cards in this Set

  • Front
  • Back
5 Different Types of ADR?
1. Arbitration
2. Mediation
3. Negotiation
4. Med-Arb
5. Mini-Trails
Why use ADR?
Litigation
- Can be devastating
- Long time ordeal
- Public battle
- Can result in huge commitment of time and money
- Emotionally and physically draining
- Limited possible outcomes
9 Advantages of ADR?
1. Faster than the traditional court system
2. Having an ADR clause gives the two parties greater control over how the dispute will be settled
3. Better predictive power as to when and where the dispute resolution will take place
4. Typically costs less than the traditional court system
5. Greater flexibility in the decisions that can be made
6. Proceedings are confidential
7. Proceedings tend to be less confrontational than court proceedings
8. Able to schedule exactly when ADR proceedings will take place
9. Finality - because they have a greater level of control of the decision, they are less likely to fight it
6 Disadvantages of ADR?
1. Some say it is too slow
2. Unknown pool of neutrals
3. Flexibility - may not be enforceable
4. Lack of privacy
5. Too expensive
6. Inability to take it to court later
6 International ADR Issues?
1. Moving towards it because of biased court systems
2. Moving towards ADR because of the clogged court system
3. More likely to provide an even playing field than litigation
4. Is a growth industry
5. Must pay attention to detail and process
6. Feel that arbitration is more fair than litigation
4 Merits of E-Negotiations?
1. Inexpensive
2. User-friendly
3. Timely
4. An effective means for a firm to promote its products or services anywhere in the world
6 Pluses of E-Negotiations?
1. Eliminates time zones and distances
2. Reduces the role of status
3. Erases gender biases
4. Increases personal power
5. Allows simultaneous multi-negotiations
6. Expands one's audience through new technologies
4 Pros of E-Negotiations?
1. Excellent vehicle for B-to-B dealing
2. Allows smaller businesses greater access to international markets
3. Allows more direct channel distribution with lower costs
4. Buyer requirements are available to anyone who has access to the Internet
5 Minuses of E-Negotiations?
1. Conflict Generation
2. Greater Emphasis on Price
3. Increase in Risk
4. Gives more power to buyers
5. Encourages quick replies
3 Cons of E-Negotiations?
1. Access to more information will result in increased competition, driving prices lower and reducing profit margins
2. In relationship-oriented cultures, customers will not like dealing strictly over the Internet
3. Requires a significant amount of preparation
4 Strategies for E-Negotiations?
1. Be careful not to develop "screen myopia" or tunnel vision
2. Don't become obsessed with winning at all cost
3. Consult others for advice
4. Don't forget the long-term consequences of your actions
5 Appropriate Situations for E-Negotiations?
1. Exchanging information
2. Clarifying key issues
3. Finalizing specific clauses in an agreement
4. Preparing arrangements for face-to-face negotiations
5. Negotiating a repeat order or small transaction
4 Planning Strategies for Negotiations?
1. Think through the full implications of any message you send
2. Don't feel that you have to reply to the message right away
3. Combine e-negotiations with face-to-face discussions
4. Do not focus too much on the competitive approach in e-negotiations
5 Types of Power?
1. Legitimate
2. Expert
3. Referent/charisma
4. Reward
5. Coercion
Information and Expertise

Control over resources

Location in the organization
Core of Power
10 Ways to Get Power:
1. Know various aspects of the business
2. Know the other party
3. Know the competition
4. Develop options and alternatives
5. Set the agenda
6. Negotiate in your own environment
7. Have time to negotiate and set deadlines
8. Listen!!!
9. Know the bottom line
10. Make decisions and commitments
8 Basic Steps and Hints to getting a Raise?
1. Be ready to prove your worth
2. Research the market
3. Time your request carefully
4. Figure out your value on the open market
5. Negotiate your position, not your paycheck
6. Improve your skills and do your homework
7. Sweep up projects not being done be anyone else
8. Do not threaten to quit unless you are willing to follow up on that threat
5 Steps in Asking for a Raise:
1. Have self confidence
2. Have reasons for the raise
3. Know your boss
4. Separate emotion from argument
5. Know your BATNA and your boss's
8 BATNA Questions for Raises:
1. Does the company really need you, as opposed to someone with similar qualifications who is eager to take your job?
2. Would it take a long time to train someone to take over your position?
3. Would operations suffer in some tangible way if you were to leave?
4. Would it be possible for the employer to hire someone else with a resume/skill/experience set similar to yours at something like the salary you now receive?
5. Do you have very attractive job opportunities elsewhere?
6. Could you easily get another job at a better rate of pay, with comparable working conditions?
7. Would you likely be happier working somewhere else?
8. Could you easily go for an extended period with another job if you had to?
5 Factors to the Counteroffer:
1. Will give you a very good idea of what you are worth
2. Be very careful with this
3. Presenting a counteroffer could be perceived as a threat to leave
4. If you start shopping, be prepared to leave
5. Remain non-confrontational and focus on finances
2 Suggestions if you don't get the raise?
1. Don't be afraid to ask your manager what it would take to get the raise next time you ask
2. Some times the only way to get a significant raise is to switch jobs
The transmission of information

The transmission of understanding

Through the use of common symbols
communication
2 Aspects of Communication and its importance in Negotiations:
1. Occurs at two levels
2. Going international only makes this process more difficult
5 Cross-Cultural Communication Barriers:
1. Perceptual Bias
2. Stereotyping
3. Halo Effects
4. Selective Perception
5. Projection
4 Techniques for Improving Communication in Negotiations:
1. Listening
2. Asking questions
3. Reversing roles
4. Ensuring clear understanding
5 Types of Non-Verbal Communication:
1. Accenting
2. Complimenting
3. Substituting
4. Contradicting
5. Regulating
7 Categories of Non-Verbal Behavior:
1. Kinesics
2. Paralanguage
3. Haptics code
4. Proxemics
5. Chronemics
6. Physical Appearance
7. Artifacts
2 Important Aspects of Non-Verbal Communication:
1. 60-70% of communications are non-verbal
2. Negotiators may intentionally use non-verbal cues to throw off the other party
3 Important Aspects of Utilizing an Interpreter:
1. Interprets the word and the meanings behind them
2. Using the other party's language increases trust
3. An interpreter can also give you time to think about your answer
Anything that interferes with the
communication process

Usually non-verbal cues that are
misinterpreted
Noise
6 Things to think about before you go into salary negotiations:
1. Be prepared
2. Look at salary ranges for your job and area
3. Look at cost of living in your area
4. Dress appropriately
5. Get to know the benefits/bonuses package
6. Decide on your ideal and BATNA
3 Things to remember in the salary negotiations:
1. Remain calm and professional
2. Make sure that you understand everything clearly
3. Remember nothing is final until you sign the contract
2 Things to remember after the salary negotiations:
1. Get the details about your compensation package in writing
2. Do not openly discuss your compensation package
4 Reasons why companies need to renegotiate:
1. Dimensions of the international businesses environment
2. Mechanisms for settling disputes
3. Involvement of governments
4. Cultural differences
4 Ways to prevent renegotiation:
1. Lock the other party in
2. Balance the deal
3. Control the negotiation
4. Build in renegotiation costs
4 Types of Renegotiation:
1. Preemptive
2. Intradeal
3. Postdeal
4. Extradeal
5 Hints for Haggling in the US:
1. Hesitate
2. Find the right person and the right time
3. Use competition
4. Do not let them take advantage
5. Fight for your rights
7 Places you can haggle in the US:
1. Buying a house
2. Used car lots
3. Flea markets
4. Yard sales
5. On-line
6. Oriental Rug Market
7. When retailers are not having a good shopping season
Definition of haggling and difference from negotiation?
Means ‘to bargain, to dicker, or to argue in an attempt to come to terms’

A social style associated with bargaining
3 Reasons a buyer haggles:
1. Opportunity to get a lower price
2. Feeling of control over the price
3. Allows for more social interaction
2 Reasons a seller haggles:
1. Can size up the customer and change his/her tactics in order to entice an unenthusiastic customer
2. Allows for price flexibility, can get more customers
10 Methods of Closing Negotiations:
1. Alternative
2. Assumption
3. Concession
4. Incremental
5. Linkage
6. Prompting
7. Summarizing
8. Splitting the Difference
9. Trial
10. Ultimatum/ Or Else
5 Reasons why it is important to have different closing methods:
1. Existing relationships
2. Cultural environments
3. Negotiation styles
4. Goal of talks
5. State of the discussions
4 Questions to ask before you close the negotiation:
1. Does the agreement meet our goals?
2. Will we be able to fulfill the agreement?
3. Do we intend to commit the resources required to implement the agreement?
4. Do we consider the other party capable of meeting its commitment to the agreement?