Podcast
Questions and Answers
What is the primary focus of integrative bargaining?
What is the primary focus of integrative bargaining?
Which of the following strategies can help build integrative agreements?
Which of the following strategies can help build integrative agreements?
What does the acronym BATNA stand for?
What does the acronym BATNA stand for?
What is a common mistake in negotiations?
What is a common mistake in negotiations?
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What does ZOPA stand for in negotiation terms?
What does ZOPA stand for in negotiation terms?
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In the context of distributive bargaining, what is a key characteristic?
In the context of distributive bargaining, what is a key characteristic?
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What is the purpose of logrolling in negotiations?
What is the purpose of logrolling in negotiations?
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Which action is NOT recommended when seeking to maximize joint value in negotiations?
Which action is NOT recommended when seeking to maximize joint value in negotiations?
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Study Notes
Negotiation Strategies
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Types of Negotiations:
- Integrative: Multiple issues, win-win, value creation. Focuses on interests, not positions.
- Distributive: Single issue, win-lose, fixed-sum (fixed pie), conflict of interest.
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Building Integrative Agreements:
- Build trust.
- Ask questions.
- Share information.
- Meso- make simultaneous offers.
- Search for post-settlement settlements.
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Maximizing Joint Value:
- Maximize congruent aspects.
- Trade off integrative aspects.
- Compromise on distributive aspects.
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BATNA (Best Alternative To a Negotiated Agreement):
- Standard for evaluating proposed agreements.
- Prevents unfavorable terms.
- Know your BATNA and estimate counterpart's BATNA (often hidden).
- Understand outcomes if no agreement is reached.
Key Negotiation Concepts
- Interests vs. Positions: Distinguish what someone wants (position) from why they want it (interest). Negotiate interests, not positions.
- Value Creation: Grow the pie (expand the total value) before claiming a slice.
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ZOPA (Zone of Possible Agreement):
- Area where agreement may occur.
- More issues = more complex.
- Assign points to issues based on value.
- Involves Buyer and Seller BATNAs and Target prices.
- Walkaway point (0,0) on graph.
- Zopa appears in Top-right quadrant of the graph.
- Grow the pie before claiming value. (Move north from walkaway).
- Avoid offers below your BATNA.
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Negotiation Mistakes:
- Assuming a fixed pie.
- Lack of planning and information.
- Irrational escalation of commitment.
- Overconfidence.
- Misframing.
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Logrolling and Coalitions:
- Logrolling: Leverage uncommon interests through trading favors on issues parties are indifferent to.
- Coalitions: Groups of people unifying under a central voice.
- Compromise coalitions: Middle ground between opposing sides.
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Description
Explore the essential negotiation strategies that can lead to successful outcomes. This quiz covers different types of negotiations, how to build integrative agreements, and the importance of BATNA in the negotiation process. Test your understanding of key concepts to enhance your negotiation skills.
