Business Course Overview

Comfort Zone.

It encourages negative thoughts like 'I can’t do this' and 'I’ll never get this.'

It allows for a more comprehensive understanding of the issue, leading to better solutions.

<p>Make a Plan to Succeed.</p> Signup and view all the answers

<p>Attendance is crucial as it affects the ability to earn marks and understand course material.</p> Signup and view all the answers

<p>Insurance industry</p> Signup and view all the answers

<p>Zero tolerance policy</p> Signup and view all the answers

<p>BUSN10053</p> Signup and view all the answers

<p>M-Wing</p> Signup and view all the answers

<p>Check emails and set up notifications</p> Signup and view all the answers

<p>Submitting unoriginal work or collaborating on tests</p> Signup and view all the answers

<p>Attend class activities</p> Signup and view all the answers

<p>Using AI tools to submit assignments</p> Signup and view all the answers

<p>50%</p> Signup and view all the answers

<p>During regular class time in Week 8 after the Fall Reading Week Break.</p> Signup and view all the answers

<p>One attempt only, except for Quiz 1 which allows two attempts.</p> Signup and view all the answers

<p>They are designed for self-learning and preparation for exams.</p> Signup and view all the answers

<p>Negotiation must involve two or more parties, a conflict of interest, and an expectation of a better outcome.</p> Signup and view all the answers

<p>25%</p> Signup and view all the answers

<p>It can lead to increased frustration and consume more time and resources.</p> Signup and view all the answers

<p>Sundays at 11:59 pm, almost weekly.</p> Signup and view all the answers

<p>Issues are the specific items negotiated, whereas interests refer to what each party hopes to achieve.</p> Signup and view all the answers

<p>Incentives can motivate parties by fulfilling their needs or wants, encouraging a cooperative atmosphere.</p> Signup and view all the answers

<p>The main types are intrapersonal, interpersonal, intragroup, and intergroup conflicts.</p> Signup and view all the answers

<p>Preparation allows negotiators to clarify their goals, prioritize interests, and anticipate the other party's reactions.</p> Signup and view all the answers

<p>Research focuses negotiations on facts and logical conclusions rather than emotions.</p> Signup and view all the answers

<p>Negotiators should consider the utilitarian approach, rights approach, and justice perspective to ensure fairness.</p> Signup and view all the answers

<p>Poorly managed conflict can derail negotiations, leading to mistrust and unresolved issues.</p> Signup and view all the answers

<p>The best negotiators spend more time planning and use a problem-solving perspective rather than a competitive one.</p> Signup and view all the answers

<p>Someone may feel more comfortable negotiating for services because they understand their value better and have confidence in their abilities, unlike when bargaining for prices where they lack preparation.</p> Signup and view all the answers

<p>Maintaining a good relationship can lead to more favorable terms and future opportunities, but it requires balancing personal ties with achieving desired negotiation results.</p> Signup and view all the answers

<p>Planning helps identify key points, prepare responses, and develop strategies, boosting confidence and clarity during negotiations.</p> Signup and view all the answers

<p>Personal relationships can complicate negotiations because individuals may prioritize preserving harmony over asserting their own needs or desires.</p> Signup and view all the answers

<p>Avoiding a lower price precedent is crucial as it can affect future negotiations and potential income consistency.</p> Signup and view all the answers

<p>The two primary negotiation approaches are distributive and integrative. Distributive focuses on competitive behavior with a winner and loser, while integrative emphasizes cooperation and meeting the needs of both parties.</p> Signup and view all the answers

<p>Framing influences negotiation outcomes by affecting behaviors; a positive frame can lead to more successful results, while a negative frame can escalate conflict and lead to poor outcomes.</p> Signup and view all the answers

<p>One can reframe a negotiation situation by concentrating on specific areas that require improvements, such as addressing necessary repairs when negotiating a house price.</p> Signup and view all the answers

<p>Integrative negotiation focuses on creating value for all parties involved, while distributive negotiation involves dividing a fixed amount of resources.</p> Signup and view all the answers

<p>The bargaining mix includes all issues involved, and a greater number of diverse issues can lead to higher satisfaction for both parties, provided it's managed effectively.</p> Signup and view all the answers

<p>An individual's personality can influence their negotiation style, making them more competitive or cooperative depending on their innate tendencies and responses to circumstances.</p> Signup and view all the answers

<p>When an issue is framed negatively, it increases the likelihood of escalating conflict and can result in less successful negotiation outcomes.</p> Signup and view all the answers

<p>'Expanding the pie' refers to the strategy of creating additional value in the negotiation, allowing all parties to benefit rather than compete over a fixed resource.</p> Signup and view all the answers

<p>Initial offers serve as anchors that set expectations and boundaries for the negotiation, influencing the direction and concessions during the process.</p> Signup and view all the answers

<p>'Quid pro quo' signifies the concept of an exchange where one thing is given in return for another, highlighting the negotiations' incentive structure.</p> Signup and view all the answers

<p>Cultural factors can affect perceptions of fairness and value, leading negotiators to adjust their initial offers based on the fear of being taken advantage of.</p> Signup and view all the answers

<p>Negotiating multiple issues increases the likelihood of finding mutually agreeable solutions and enhances overall satisfaction for the parties involved.</p> Signup and view all the answers

<p>Introducing too many issues can complicate the negotiation process, leading to confusion and overwhelming participants, ultimately reducing the likelihood of a successful agreement.</p> Signup and view all the answers

<p>BATNA stands for Best Alternative to a Negotiated Agreement. It is important because it defines the best outcome one can achieve without negotiating, thereby strengthening the negotiator's position.</p> Signup and view all the answers

<p>A resistance point is the lowest acceptable outcome for a negotiator and helps them determine whether to accept or reject an offer.</p> Signup and view all the answers

<p>Keeping target points confidential allows negotiators to maintain strategic advantage and assess the other party's offers effectively.</p> Signup and view all the answers

<p>WATNA stands for Worst Alternative to a Negotiated Agreement and represents the worst outcome one could face if no agreement is reached, while BATNA represents the best outcome.</p> Signup and view all the answers

<p>By investigating alternatives, a negotiator can better define their BATNA, leading to a stronger bargaining position and improved negotiation outcomes.</p> Signup and view all the answers

<p>Target points for non-monetary issues should be based on as much factual information as possible derived from research and understanding the context of the negotiation.</p> Signup and view all the answers

<p>A person's resistance point is typically directly related to their BATNA; the stronger the BATNA, the higher the resistance point can be.</p> Signup and view all the answers

<p>Good negotiators set challenging, quantifiable target points for each issue and share information strategically rather than revealing everything at once.</p> Signup and view all the answers

<p>Most Likely Alternative to a Negotiated Agreement.</p> Signup and view all the answers

<p>ZOPA stands for Zone of Potential Agreement, indicating the overlap between parties' resistance points where a settlement is likely.</p> Signup and view all the answers

<p>A positive bargaining range increases the chances of settlement, while a negative range indicates no possibility without adjustments.</p> Signup and view all the answers

<p>Negotiators should ensure all pertinent issues are discussed to avoid damaging relationships due to mismatched expectations.</p> Signup and view all the answers

<p>Addressing all issues prevents overlooking key aspects that can lead to misunderstandings and conflict in the future.</p> Signup and view all the answers

<p>A negotiator's position may adapt based on the specific circumstances and dynamics of the negotiation.</p> Signup and view all the answers

<p>The resistance point indicates the maximum or minimum limits a party is willing to accept in negotiation.</p> Signup and view all the answers

<p>A negotiator may rush to a conclusion to finalize an agreement quickly, but this can lead to overlooking critical issues.</p> Signup and view all the answers