Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 17.8, Problem 3Q
Do you think blockchain technology could be used to offset currency fluctuations? Would this likely increase or decrease the risk?
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What defines the bargaining zone in a negotiation?- The bargaining zone, or the zone of possible agreement (ZOPA), is the scale of acceptable outcomes in a negotiation. At one end is the lowest price/ set of terms one party is ready to accept, and the other end of the scale is the highest price/ desired terms of the negotiation. Typically, each party starts on either side of the scale at the beginning of a negotiation. Successful negotiations meet in the middle of this range of acceptable outcomes, resulting in a mutually beneficial agreement (Thompson, 2020).
How does a positive or negative bargaining zone affect the outcome of a negotiation and one's BATNA? - The bargaining zone (ZOPA) directly impacts the strength of one's BATNA (Best Alternative to a Negotiated Agreement). A strong BATNA provides leverage to negotiate better terms in a positive bargaining zone, where the buyer's maximum exceeds the seller's minimum (Thompson, 2020). The negotiator can push closer to their…
How does a positive or negative bargaining zone affect the outcome of a negotiation and one's BATNA? Provide a real life example.
What defines the bargaining zone in a negotiation? Provide real life examples.
Chapter 17 Solutions
Principles of Management
Ch. 17.1 - What is the process where managers establish goals...Ch. 17.1 - How do the internal and external environments of...Ch. 17.1 - Why should managers plan?Ch. 17.2 - What are the five steps in the planning process?Ch. 17.2 - What is the difference between goal, domain, and...Ch. 17.2 - How are planning, implementation, and controlling...Ch. 17.3 - Define and describe the different types of plans...Ch. 17.4 - What is the difference between official and...Ch. 17.4 - How do multiple goals fit into a goal hierarchy?Ch. 17.5 - What ethical problems could surface with data...
Ch. 17.5 - What security risks would a company need to...Ch. 17.5 - How do todays organizations approach planning?Ch. 17.5 - Does planning pay off for todays organizations?Ch. 17.5 - Which people in the organization should be...Ch. 17.6 - How is goal theory used in the planning process?Ch. 17.6 - What are the organizational downsides to goals?Ch. 17.6 - How is goal setting tied to job satisfaction and...Ch. 17.7 - What is management by objectives?Ch. 17.8 - What other applications can you see for blockchain...Ch. 17.8 - What drawbacks or potentials risks do you see in...Ch. 17.8 - Do you think blockchain technology could be used...Ch. 17.8 - Why would governments be suspicious of...Ch. 17.8 - Describe the execution of the planning and...Ch. 17 - Define managerial planning and controlling.Ch. 17 - Discuss the relationship between the two...Ch. 17 - Identify and briefly describe each stage in the...Ch. 17 - Compare and contrast three different types of...Ch. 17 - What are multiple goals? What is a goal hierarchy?...Ch. 17 - Briefly describe the two views of the goal...Ch. 17 - Describe the MBO process, the philosophy behind...Ch. 17 - Distinguish between cybernetic and noncybernetic...Ch. 17 - Identify and discuss three positive and three...Ch. 17 - How does the desire for personal control affect...Ch. 17 - What do you think are some of the difficulties of...Ch. 17 - China effectively shuts down for two weeks each...Ch. 17 - The case focuses on U.S. markets. How are European...Ch. 17 - Have your own shopping habits changed with the...
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