UNDERSTANDING BUSINESS (LL) >CUSTOM<
11th Edition
ISBN: 9781260660647
Author: Nickels
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 7.3, Problem 7.3AQ
Summary Introduction
To determine: The contingency plans at work.
Introduction:
Contingency plan refers to the alternative plans, available to be followed when primary plan is not enough to achieve organizational plans. Every organization has contingency plans available for the adverse situation.
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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…
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What defines the bargaining zone in a negotiation? Provide real life examples.
Chapter 7 Solutions
UNDERSTANDING BUSINESS (LL) >CUSTOM<
Ch. 7.1 - Prob. 7.1AQCh. 7.2 - Prob. 7.2AQCh. 7.2 - Prob. 1TPCh. 7.2 - Prob. 2TPCh. 7.2 - Prob. 3TPCh. 7.3 - Prob. 7.3AQCh. 7.3 - Prob. 4TPCh. 7.3 - Prob. 5TPCh. 7.3 - Prob. 6TPCh. 7.3 - Prob. 7TP
Ch. 7.5 - Prob. 7.5AQCh. 7.5 - Prob. 7.5BQCh. 7.5 - Prob. 7.5CQCh. 7.5 - Prob. 1MEDCh. 7.6 - Prob. 7.6AQCh. 7.6 - Prob. 8TPCh. 7.6 - Prob. 9TPCh. 7.6 - Prob. 10TPCh. 7 - Prob. 1CTCh. 7 - Prob. 2CTCh. 7 - Prob. 3CTCh. 7 - Prob. 4CTCh. 7 - Prob. 1DWSCh. 7 - Prob. 2DWSCh. 7 - Prob. 3DWSCh. 7 - Prob. 4DWSCh. 7 - Prob. 5DWSCh. 7 - Prob. 1TITCh. 7 - Prob. 2TITCh. 7 - Prob. 3TITCh. 7 - Prob. 1VCCh. 7 - Prob. 2VCCh. 7 - Prob. 3VC
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