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11. Negotiation is not a process reserved only for the skilled diplomat, top salesperson, or ardent advocate for an organised lobby; it is something that everyone does, almost daily. a. True b. False

11. Negotiation is not a process reserved only for the skilled diplomat, top salesperson, or ardent advocate for an organised lobby; it is something that everyone does, almost daily. a. True b. False

Understanding Business
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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Business Negotiation : 11. Negotiation is not a process reserved only for the skilled diplomat, top salesperson, or ardent advocate for an organised lobby; it is something that everyone does, almost daily. a. True b. False 12. parties are characterised by interlocking goals-the parties need each other in order to accomplish their objectives, and hence have the potential to influence each other. a. Interdependent b. Dependent c. Independent d. Individualistic 13. The price beyond which a negotiator will not go is the resistance point, a negotiator's bottom line-the most he will pay as a buyer (for a seller, it's the smallest amount she will settle for). a. Asking price b. Target price c. Settlement price d. Reservation price 14. Which statement is false? a. Opening offers, opening stances, and initial concessions are elements at the beginning of a negotiation that parties can use to communicate how they intend to negotiate. b. An opening offer is usually met with a counteroffer, and these two offers define the initial bargaining range. c. The simplest way to screen a position is to say and do as little as possible. Silence is golden when answering questions; words should be invested in asking the other negotiator questions. Reticence reduces the likelihood of making verbal slips or presenting any clues that the other party could use to draw conclusions. d. In integrative negotiation, the goals of one party are usually in fundamental and direct conflict with the goals of the other party. Resources are fixed and limited, and both parties want to maximise their share. As a result, each party will use strategies and tactics to maximise his or her share of the outcomes. 15. Which statement is false? a. Those wishing to achieve integrative results find that they must manage both the context and the process of the negotiation in order to gain the cooperation and commitment of all parties. b. The first three steps of the integrative negotiation process are important for creating value. c. The fourth step of the integrative negotiation process, the evaluation and selection of alternatives, involves creating value. d. The failure to reach integrative agreements is often linked to the failure to exchange enough information to allow the parties to identify integrative options. 16. This technique for inventing options requires the parties to find more than one issue in conflict and to have different priorities for those issues. The parties then agree to trade off among these issues so that one party achieves a highly preferred outcome on the first issue and the other person achieves a highly preferred outcome on the second issue. a. Logroll b. Expand the pie c. Modifying the resource pie d. Find a bridge solution 17. Which statement is false? a. The primary determinant for success in negotiation is in the planning that takes place prior to the dialogue. b. Your negotiation strategy might be integrative, designed to build and maintain a productive relationship with the other party while using a joint problem-solving approach to the issues. In pursuing this strategy, appropriate tactics include describing your interests, using open- ended questions and active listening to understand the others' interests, and inventing options for mutual gain. c. Strategies are short-term, adaptive moves designed to enact or pursue broad (or higher- level) tactics, which in turn provide stability, continuity, and direction for tactical behaviors. d. The number of issues in a negotiation, together with the relationship between the negotiator and the other party, are often the primary determinant of whether one uses a distributive integrative strategy. 18. The purpose of using ethically ambiguous negotiating tactics is to increase the negotiator's power in the bargaining environment. a. True b. False or 19. Which is not a perceptual distortion? a. Stereotyping b. Selective perception c. Overconfidence d. Projection
Transcribed Image Text:Business Negotiation : 11. Negotiation is not a process reserved only for the skilled diplomat, top salesperson, or ardent advocate for an organised lobby; it is something that everyone does, almost daily. a. True b. False 12. parties are characterised by interlocking goals-the parties need each other in order to accomplish their objectives, and hence have the potential to influence each other. a. Interdependent b. Dependent c. Independent d. Individualistic 13. The price beyond which a negotiator will not go is the resistance point, a negotiator's bottom line-the most he will pay as a buyer (for a seller, it's the smallest amount she will settle for). a. Asking price b. Target price c. Settlement price d. Reservation price 14. Which statement is false? a. Opening offers, opening stances, and initial concessions are elements at the beginning of a negotiation that parties can use to communicate how they intend to negotiate. b. An opening offer is usually met with a counteroffer, and these two offers define the initial bargaining range. c. The simplest way to screen a position is to say and do as little as possible. Silence is golden when answering questions; words should be invested in asking the other negotiator questions. Reticence reduces the likelihood of making verbal slips or presenting any clues that the other party could use to draw conclusions. d. In integrative negotiation, the goals of one party are usually in fundamental and direct conflict with the goals of the other party. Resources are fixed and limited, and both parties want to maximise their share. As a result, each party will use strategies and tactics to maximise his or her share of the outcomes. 15. Which statement is false? a. Those wishing to achieve integrative results find that they must manage both the context and the process of the negotiation in order to gain the cooperation and commitment of all parties. b. The first three steps of the integrative negotiation process are important for creating value. c. The fourth step of the integrative negotiation process, the evaluation and selection of alternatives, involves creating value. d. The failure to reach integrative agreements is often linked to the failure to exchange enough information to allow the parties to identify integrative options. 16. This technique for inventing options requires the parties to find more than one issue in conflict and to have different priorities for those issues. The parties then agree to trade off among these issues so that one party achieves a highly preferred outcome on the first issue and the other person achieves a highly preferred outcome on the second issue. a. Logroll b. Expand the pie c. Modifying the resource pie d. Find a bridge solution 17. Which statement is false? a. The primary determinant for success in negotiation is in the planning that takes place prior to the dialogue. b. Your negotiation strategy might be integrative, designed to build and maintain a productive relationship with the other party while using a joint problem-solving approach to the issues. In pursuing this strategy, appropriate tactics include describing your interests, using open- ended questions and active listening to understand the others' interests, and inventing options for mutual gain. c. Strategies are short-term, adaptive moves designed to enact or pursue broad (or higher- level) tactics, which in turn provide stability, continuity, and direction for tactical behaviors. d. The number of issues in a negotiation, together with the relationship between the negotiator and the other party, are often the primary determinant of whether one uses a distributive integrative strategy. 18. The purpose of using ethically ambiguous negotiating tactics is to increase the negotiator's power in the bargaining environment. a. True b. False or 19. Which is not a perceptual distortion? a. Stereotyping b. Selective perception c. Overconfidence d. Projection
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