In negotiation, having your first offer immediately accepted by the counterparty is likely to lead tofeelings of what might have gone differently. Having your first offer immediately accepted can alsolead to:O improved preparationO changing your BATNAthe overconfidence effectO hindsight bias

Two or more parties negotiate to reach an agreement or resolve a disagreement. It's a give-and-take…

Answered: In negotiation, having your first offer…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Similar questions

Explain the three (3) types of fairness principles in distributive negotiations. Support each of your answer with an example.
What is the the Getting To Yes model of negotiations originated by Roger Fisher Ury?
Discuss the term “value” from a quantifiable and abstract perspective. How might these premises affect a negotiation situation? Provide examples that will support your conclusions.
Discuss the three (3) negotiation styles, accommodators, avoiders, and collaborators. Imagine you have just been promoted to Managing Director of Retail Sales. Last week, your organization received complaints from two hundred customers who are unsatisfied with the quality of the carpets they purchased over a period of 2 months. As the Managing Director of Sales, you are committed to resolving this serious problem and to improving the relationship between the customers and the company with a high level of urgency. Describe the type of negotiation stye your sales team will use to address this issue Explain. Please be mindful to use relevant personal selling concepts to support the claim.
Martin is the manager of a electronic production factory. He has been working in this position for almost ten years. The factory management are happy with his work performance. He often has to travel to sell the factory’s products to dealers. Therefore, he has to negotiate the selling. To help he, please explain the practical concept for strategic model of negotiation that Martin should know to make himself successful. (Please provide examples).
Which one of the following is not a dimension of the 3-D negotiation strategy? a. Identifying other potential transactions to avoid failure b. Finding the right negotiation and parties c. Solving inter-personal problems d. Creating deals that increase value
The outcome of a negotiation could turn out to be: i) A Win-Win situation ii) A Win-Lose situation iii) A Lose-Lose situation iv) Beyond intractability situation Explain with at least an illustrative example what each of these outcomes imply.
As a salesperson for a large Montreal-based robotics company. you have entered into a very complex negotiation with a major machinery manufacturer. The deal is worth millions to your company. You've been sitting across the desk from a very hard-nosed purchasing manager for days now. You discover that the purchasing manager is just months away from retirement and this will probably be his last major purchase before retirement. During one of your meetings, the prospect tells you about his impending retirement and without coming out and directly asking, he makes some subtle overtures regarding what it will take to get the deal done. He strongly hints that if you would make it worth his while personally, he would arrange to get the deal done. Your guess is that he is looking for a way to supplement his retirement. Perhaps a personal cash payout or a small cottage in the country would suffice. You figure it would cost your company approximately $150 000 to get the deal done. Explain what do…
What is a win-win negotiation? What are the characteristics that make for a win-win negotiation?
Identify your interests, that is, what you hope to accomplish in the negotiation, and what is most important to you in a job. Is it an opportunity for advancement or to gain a particular type of experience? Is it flexibility, job security, the compensation package, geographic location, or something else? Looking at the list of interests, prioritize them by assigning values (1 is the most important while 7 is the least important). Next identify the issues (the specific items that you would like to negotiate) and your opening demands and target and resistance points for each. Priority Interests Issue Opening Demand Target Resistance
Given the time spent on planning its negotiation, BEN feels the evaluation and review of the negotiation should be skipped. What advice would you give BEN?
Which of the following role is performed by a manager of an organization while entering into a contract with other companies? a. Entrepreneurial b. Negotiator c. Resource allocator d. Disturbance handler

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In negotiation, having your first offer immediately accepted by the counterparty is likely to lead to feelings of what might have gone differently. Having your first offer immediately accepted can also lead to: O improved preparation changing your BATNA the overconfidence effect hindsight bias