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51 Cards in this Set
- Front
- Back
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What are 2-3 Takeaways from Perulator exercise in term of what effective negotiation requires?
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Trust - The teams had to believe that the other team would honor their commitment. Communication-Some of the teams did better after they were allowed to communicate |
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What is Reservation Price/Resistance point?
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Reservation price/Resistance point is the minimum amount a party would accept in a negotiation |
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What is Aspiration Level/Target Point?
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Target point and aspiration level are the same thing. they are a parties optimistic goal for the negotiation
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What is BATNA |
Best alternative to a negotiated agreement
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What is Zopa?
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Zone of Possible Agreement aka bargaining zone
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What is the difference between goals and expectations?
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Goal is you highest legitimate expectation expectation is what you think will happen seller of cd player needs money. willing to take 100 similar cd's sold for 130 he expects 130 but has a goal of 140 |
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What are the 6 pillars of negotiation effectiveness?**** |
1. Bargaining Style 2. Your Goals and Expectations 3. Authoritative Standards and Norms 4. Relationships 5. The Other Party's Interests 6. Leverage |
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What is the difference between Distributive vs. Integrative negotiations? |
Distributive bargaining is the approach to bargaining or negotiation that is used when the parties are trying to divide something up--distribute something. It contrasts with integrative bargaining in which the parties are trying to make more of something. This is most commonly explained in terms of a pie |
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What is Positional bargaining? |
Positional bargaining is a negotiation strategy that involves holding on to a fixed idea, or position, of what you want and arguing for it and it alone, regardless of any underlying interests. part time America won't work |
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What are the three approaches to resolving disputes? describe. |
Interest-what one cares about or wants rights-legitimacy or fairness power-ability to coerce someone to do something they do not want to do |
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what are the four criteria used to decide which approach to resolving disputes is best?
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Transaction costs- Satisfaction of outcome- effect on the relationship- recurrence- |
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what are the five different types of Bargaining styles? What are shell's corrective reminders?
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Accommodating-focus on being persuasive not just right Compromising-ask questions. Do not accept first fair solution to be presented Avoiding-ask for things, other parties may be willing to accomodate Collborating-don't draw out negotiations Competing-remember relationships |
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What are the 4 elements of the GTY approach?
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1. separate the people from the problem 2. focus on interests, not positions 3. Invent options for mutual gain 4. insist on using Objective Criteria |
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What are the key points of White's critique of GTY? |
Naïve, oversimplified, self ritious book ignores or minimizes situations where there are not mutual gains to be made. |
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What does fisher say on sources of power and the effective use of them on the advisability of beginning with threats or ultimate? |
1. power of skill and knowledge 2. power of a good relationship 3.power of a good alternative to negotiating 4. power of an elegant solution 5. power of legitimacy 6. commitment threats/ultimatum are last resort because they take away other sources of power |
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What to Heen and stone say about framing a negotiation as a whole? |
what is the negotiation all about? framing can be a barrier to solution and communication or they can be a powerful tool to make the other side see where you are coming from |
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what does lewicki say about framing an effective negotiation message? |
primacy/recency effect one vs two sided messaging mode of communication walk in their shoes preparedness with questions force them to listen instead of forming their own counterarguments |
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What is the upside and downside of taking a competitive approach to negotiation, when is it recommended?
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damages personal relationships effects follow on negotiations best used when the other side is poorly prepared and you don't care about relationship |
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what are the best practices for executing a competitive negotiation
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stick to your planned target and walk away point never reveal your bottom liine get the other party to make big concessions keep your own concessions small and slow gain intel on the other party what will it take for them to walk away |
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what are runde and flanagans suggested three-step approach to difficult conversations?
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cool down, slow down, engage constructively
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what is the distinction between task and relationship conflict? |
how to solve problem vs who to blame
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what are usual responses to conflict? why do they generally not work? |
avoid it, forget it, get back at them. none of these issues solve actual problem
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what are some destructive/constructive responses to conflict? |
destructive: anger, frustratrion, stress constructive: opportunity, resolution, energizing |
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what are some of Kline's bad listening habits? |
1. thinking about what to say rather than listening to speaker 2. talking when we should be listening 3. interrupting 4. listening for what we expect rather than what we hear 5. preoccupation with other things 6. prejudice towards speaker or subject |
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What are some Negotiation lessons drawn from the Wal-Mart/P&G Relationship?
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lack of personal relationship effects dealings necessity of open communication direct and common sense solutions mutually beneficial solutions |
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Shell ch. 5
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Other parties interests: discover other parties goals plan well how do we solve other parties at low cost identify decision maker look for common ground what might torpedo this deal |
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what does leverage mean how may it be distinguished from power according to shell?
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leverage is your ability to gain an outcome you want. it is different from power because it id dynamic and ever changing
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Negotiation by email ups? downs?
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slow, inability to see other persons reactions, harder to communicate people tend to be more forceful via internet |
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what are the elements of fraud?
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knowing misrepresentation material fact reliance causation of damages |
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what are the three main schools of negotiation ethics according to shell? |
it's a game poker school what goes around comes around pragmatist school idealist |
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Shell's test for commitment to personal integrity |
glass house
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what is value creation according to bazerman & Malhotra? |
mutually beneficial solutions
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what is logrolling? |
this for that
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What are Pareto improvements & efficiency as an aim? |
pareto efficiency is when nothing else can be done that would benefit both parties pareto improvement is an improvement to a current deal that benefits one side without harming other |
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what are post-settlement settlements? |
we will honor current deal but how would you feel about this...
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what is irrational escalation of commitment? |
country that is losing war continuing to fight
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what is anchoring and adjustment? |
anchor at initial offer and adjust from there
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what is issue framing and risk? |
is this a potential gain or loss people or more conservative with loss but more liberal with gains
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what is availability of information/vividness bias? |
how is information presented think chart in board room meeting
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what is the law of small numbers? |
2 previous negotiations on subject make pre determined decision on how this one will turn out
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what are self-serving biases/egocentrism |
wanting whats only best for you
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what is the endowment effect |
coffee mug |
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what is reactive devaluation? |
limiting the value of other parties concessions
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what is confirmation bias? |
same paper written for or against abortion each side thinking that paper was written for them
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what is loss aversion? |
peoples tendency to want to "win"
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what are traits and practices of effective negotiators according to huthwaite |
considers wider range of outcomes during planning, sees issues as linked, things long term, avoids irritators, does not immediately make counter offer, does not make personal attacks, prefaces questions to avoid behavioral labeling
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shell chapter 8
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establish rapport-good mood obtain information on other party's interest ask questions probe first disclose later if you have to deliver ultimatum do it clearly, early, and credibly |
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shell chapter 9
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situation-transaction, relationship, balanced concerns leverage who has the most to lose style are you or the other person predictably competitive or cooperative |
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shell chapter 10 |
negotiationms are not over until the parties have secured comitments to performance agreements alone are not enough unless the relationships and trust between the parties are deep and stable.
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what ways and to what extent does gender tend to make a difference in negotiation? babcock |
more structured means less difference. less structured means more difference
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what are 5 of the 15 rules offered by Malhotra that I consider most critical to effective job offer negotiations?
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1. make it clear they can get you 2. don't underestimate importance of likability 3. help them understand why you deserve what you are asking for 4. understand their constraints 5. consider whole deal |
