BMGT 362 final questions correctly
answered 100% passed
Negotiation - correct answer ✔✔Interpersonal decision-making process implored in situations
where people encounter differing goals but need to reach an agreement in order to accomplish
a task jointly
Negotiations boil down to - correct answer ✔✔people, communication, influence
When do we negotiate? - correct answer ✔✔All the time
-Businesses are dynamic, situations change
-Increasingly interpendent
-Economic factors
-Availability of information intensifies
What makes negotiations fail? - correct answer ✔✔Leaving money on the table
-Settling for too little
-Walking away from the table when reaching the deal was in fact beneficial
-Settling for terms that are worse than your current situation
-Damaging long-term relationships
How good are we at negotiating? - correct answer ✔✔<4% of people reach win-win
20% reach lose-lose
50% of time potential unrealized even in perfect agreement
,Why are we ineffective negotiators? - correct answer ✔✔Egocentrism
Confirmation Bias
Satisficing
Self-reinforcing incompetence
Egocentrism - correct answer ✔✔Viewing own experiences in a way that is flattering or fulfilling
Confirmation bais - correct answer ✔✔Tendency to see what we want to see when appraising
own performance
Satisficing - correct answer ✔✔Settling for something less than could otherwise have
Self-reinforcing incompetence - correct answer ✔✔Unawareness of own incompetence; also
reluctant to change because of risks associated with change
Improving your negotiation skills - correct answer ✔✔Believe in yourself
-Understand how your behavior affects others
-Change your behavior to get desired reactions
Negotiation Skill improvement Process - correct answer ✔✔1. Self-assessment
2. Setting change goals
3. Practice
4. Feedback
5. Re-assessment
2 Preferred conflict styles - correct answer ✔✔Trusting and cooperative (relationships)
, Tactical and competitive (outcomes)
Five Conflict-handling styles - correct answer ✔✔Avoiding - "Maybe the problem will go away"
Accommodating - "Let's do it your way"
Forcing - "You have to do it my way"
Compromising - "Let's split the difference"
Collaborating - "Let's cooperate to reach a win-win solution that benefits both of us"
When to leverage competition style - correct answer ✔✔When quick decisive decision is
needed
Important but unpopular issues that require implementation.
You know you're right. Against someone who takes advantage of noncompetitive behavior
When to leverage collaboration style - correct answer ✔✔To find solution when both sets of
concerns are too important
Objective is to learn
Merge insights. To gain commitment to course of action
Work through feelings that interfere with relationship
When to leverage compromise style - correct answer ✔✔When goals are important but not
worth effort
answered 100% passed
Negotiation - correct answer ✔✔Interpersonal decision-making process implored in situations
where people encounter differing goals but need to reach an agreement in order to accomplish
a task jointly
Negotiations boil down to - correct answer ✔✔people, communication, influence
When do we negotiate? - correct answer ✔✔All the time
-Businesses are dynamic, situations change
-Increasingly interpendent
-Economic factors
-Availability of information intensifies
What makes negotiations fail? - correct answer ✔✔Leaving money on the table
-Settling for too little
-Walking away from the table when reaching the deal was in fact beneficial
-Settling for terms that are worse than your current situation
-Damaging long-term relationships
How good are we at negotiating? - correct answer ✔✔<4% of people reach win-win
20% reach lose-lose
50% of time potential unrealized even in perfect agreement
,Why are we ineffective negotiators? - correct answer ✔✔Egocentrism
Confirmation Bias
Satisficing
Self-reinforcing incompetence
Egocentrism - correct answer ✔✔Viewing own experiences in a way that is flattering or fulfilling
Confirmation bais - correct answer ✔✔Tendency to see what we want to see when appraising
own performance
Satisficing - correct answer ✔✔Settling for something less than could otherwise have
Self-reinforcing incompetence - correct answer ✔✔Unawareness of own incompetence; also
reluctant to change because of risks associated with change
Improving your negotiation skills - correct answer ✔✔Believe in yourself
-Understand how your behavior affects others
-Change your behavior to get desired reactions
Negotiation Skill improvement Process - correct answer ✔✔1. Self-assessment
2. Setting change goals
3. Practice
4. Feedback
5. Re-assessment
2 Preferred conflict styles - correct answer ✔✔Trusting and cooperative (relationships)
, Tactical and competitive (outcomes)
Five Conflict-handling styles - correct answer ✔✔Avoiding - "Maybe the problem will go away"
Accommodating - "Let's do it your way"
Forcing - "You have to do it my way"
Compromising - "Let's split the difference"
Collaborating - "Let's cooperate to reach a win-win solution that benefits both of us"
When to leverage competition style - correct answer ✔✔When quick decisive decision is
needed
Important but unpopular issues that require implementation.
You know you're right. Against someone who takes advantage of noncompetitive behavior
When to leverage collaboration style - correct answer ✔✔To find solution when both sets of
concerns are too important
Objective is to learn
Merge insights. To gain commitment to course of action
Work through feelings that interfere with relationship
When to leverage compromise style - correct answer ✔✔When goals are important but not
worth effort
