Negotiation UPDATED ACTUAL Questions And Correct Answers
zero-sum negotiation A gain by one side is made at the expense of the other
integrative negotiation parties cooperate to achieve maximum benefits by integrating their interests into
an agreement. This is also known as a "win-win" negotiation.
Multiphase transactions __________________ are negotiations that are implemented over time in different phases.The context of
these negotiations allows parties to negotiate based on follow-through and
continuing communication.
early phases of multiphase negotiations • Become familiar with the other party's communication and negotiation style.
• Build trust.
• Monitor the other party to insure that they are following through on agreements
and promises.
• Walk away from disconcerting negotiations.
final phases of multiphase negotiations • Ensure that the last phase is not the most significant in dollars or impact, or the
most difficult to accomplish.
• Pay attention to early warnings.
In multiparty negotiations, _______________ coalitions or alliances can form among the parties and influence the process and
outcome. Coalitions have more power than any individual party involved in the
negotiation.
• Natural coalitions are allies that share a broad range of common interests.
• Single-issue coalitions form when parties that differ on other issues unite to support or block a
single issue, often for different reasons.
, If your party is relatively weak, consider forming a coalition
_ ______________ with others to improve your bargaining
power.
When people don't have the power to force a certain they generally negotiate
outcome or behavior, _____________ but only when they
believe it is to their advantage to do so
• The first is BATNA or best alternative to a negotiated Your BATNA is what you will do if you do not reach an agreement during a
agreement negotiation.
The second is reservation price or "walk away." the least favorable point at which you'll accept a negotiated deal.
The third is ZOPA or zone of possible agreement. the range in which a potential deal can take place, defined by the overlap
between the parties' reservation prices.
value creation through trades this occurs when goods or services are traded that have only modest value to
their holders, but exceptional value to the other party.
. Knowing your BATNA means _________ _______ ________ _______ knowing what you'll do or what will happen if you do not reach agreement.
it is critical to know your BATNA before ____________ _ . entering into any negotiation.
Your reservation price, also referred to as your "walk- is the least favorable point at which you would accept a deal.
away," ________ ________ _______ _______
The ZOPA itself exists, if at all, in the overlap between these high and low limits, that is, between the parties' reservation prices.
_______ __________ ______
Another key concept of negotiation is value creation , the idea that negotiating parties can improve their positions by trading the values
through trades ____ ________ ____________ ___ at their disposal
9 steps to deal • Step 1: Determine satisfactory outcomes
• Step 2: Identify opportunities to create value
• Step 3: Identify your BATNA and reservation price
• Step 4: Improve your BATNA
• Step 5: Assess who has authority
• Step 6: Study the other side
• Step 7: Prepare for flexibility in the process
• Step 8: Gather objective criteria to establish fairness
• Step 9: Alter the process in your favor
Tactics for getting off to a Good Start Set a positive tone with your opening remarks.
Review the agenda.
Discuss your expectations regarding process.
Offer information. Voluntarily explain some of your interests and concerns first as
a good-faith measure. If the other side does not reciprocate, however, be
cautious about providing additional information
zero-sum negotiation A gain by one side is made at the expense of the other
integrative negotiation parties cooperate to achieve maximum benefits by integrating their interests into
an agreement. This is also known as a "win-win" negotiation.
Multiphase transactions __________________ are negotiations that are implemented over time in different phases.The context of
these negotiations allows parties to negotiate based on follow-through and
continuing communication.
early phases of multiphase negotiations • Become familiar with the other party's communication and negotiation style.
• Build trust.
• Monitor the other party to insure that they are following through on agreements
and promises.
• Walk away from disconcerting negotiations.
final phases of multiphase negotiations • Ensure that the last phase is not the most significant in dollars or impact, or the
most difficult to accomplish.
• Pay attention to early warnings.
In multiparty negotiations, _______________ coalitions or alliances can form among the parties and influence the process and
outcome. Coalitions have more power than any individual party involved in the
negotiation.
• Natural coalitions are allies that share a broad range of common interests.
• Single-issue coalitions form when parties that differ on other issues unite to support or block a
single issue, often for different reasons.
, If your party is relatively weak, consider forming a coalition
_ ______________ with others to improve your bargaining
power.
When people don't have the power to force a certain they generally negotiate
outcome or behavior, _____________ but only when they
believe it is to their advantage to do so
• The first is BATNA or best alternative to a negotiated Your BATNA is what you will do if you do not reach an agreement during a
agreement negotiation.
The second is reservation price or "walk away." the least favorable point at which you'll accept a negotiated deal.
The third is ZOPA or zone of possible agreement. the range in which a potential deal can take place, defined by the overlap
between the parties' reservation prices.
value creation through trades this occurs when goods or services are traded that have only modest value to
their holders, but exceptional value to the other party.
. Knowing your BATNA means _________ _______ ________ _______ knowing what you'll do or what will happen if you do not reach agreement.
it is critical to know your BATNA before ____________ _ . entering into any negotiation.
Your reservation price, also referred to as your "walk- is the least favorable point at which you would accept a deal.
away," ________ ________ _______ _______
The ZOPA itself exists, if at all, in the overlap between these high and low limits, that is, between the parties' reservation prices.
_______ __________ ______
Another key concept of negotiation is value creation , the idea that negotiating parties can improve their positions by trading the values
through trades ____ ________ ____________ ___ at their disposal
9 steps to deal • Step 1: Determine satisfactory outcomes
• Step 2: Identify opportunities to create value
• Step 3: Identify your BATNA and reservation price
• Step 4: Improve your BATNA
• Step 5: Assess who has authority
• Step 6: Study the other side
• Step 7: Prepare for flexibility in the process
• Step 8: Gather objective criteria to establish fairness
• Step 9: Alter the process in your favor
Tactics for getting off to a Good Start Set a positive tone with your opening remarks.
Review the agenda.
Discuss your expectations regarding process.
Offer information. Voluntarily explain some of your interests and concerns first as
a good-faith measure. If the other side does not reciprocate, however, be
cautious about providing additional information
