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Questions and Answers
Which stage of negotiation involves parties exchanging concessions and trade-offs on variables like price and terms?
Which stage of negotiation involves parties exchanging concessions and trade-offs on variables like price and terms?
- Stage 4: Revisiting the negotiation plan
- Stage 6: Agreement
- Stage 5: Bargaining (correct)
- Stage 7: Closure
What is the 'bargaining mix' in negotiation?
What is the 'bargaining mix' in negotiation?
- The negotiation plan and objectives
- The range of issues at play, each with unique targets (correct)
- The list of concessions offered by one party
- The final agreement reached by both parties
Why is it important to write down the agreed-upon terms during the closure stage of negotiation?
Why is it important to write down the agreed-upon terms during the closure stage of negotiation?
- To achieve mutually beneficial outcomes
- To build trust in collaboration
- To prevent confusion or disputes and guarantee clear records (correct)
- To ensure that negotiations are well-informed
Which stage of a commercial negotiation involves presenting desired outcomes and suggestions with possible solutions to identified issues?
Which stage of a commercial negotiation involves presenting desired outcomes and suggestions with possible solutions to identified issues?
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What is the purpose of the opening stage in a commercial negotiation?
What is the purpose of the opening stage in a commercial negotiation?
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What does the testing stage of a commercial negotiation involve?
What does the testing stage of a commercial negotiation involve?
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