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Professional Negotiations: Business Ethics and Communication

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Professional Negotiations: Business Ethics and Communication

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Questions and Answers

What is the primary aim of negotiation in a business context?

To maximize profits for the business you represent

To minimize concessions made to the other party

To reach a compromise where both parties benefit (correct)

To ensure one party wins and the other loses

Which of the following is NOT mentioned as a circumstance where negotiations may occur in business relationships?

When striking deals for corporate accounts

When establishing business-to-business (B2B) relationships

When resolving conflicts between parties

When negotiating salaries for new employees (correct)

What is a potential downside of corporate accounts for businesses?

Corporate clients may require frequent renegotiations

Corporate clients may demand exclusivity

Corporate clients usually demand corporate discounts (correct)

Corporate clients often have strict payment terms

What is an essential element of true negotiation, as mentioned in the text?

Compromise (A) Signup and view all the answers

What is a potential benefit of corporate accounts for businesses?

Representing volume business (D) Signup and view all the answers

Which of the following is NOT a type of contract or agreement discussed in the text?

Employment contracts (B) Signup and view all the answers

Which of the following is NOT a factor to consider when negotiating rates, according to the text?

Brand reputation of the provider (A) Signup and view all the answers

What is the purpose of agency agreements?

To establish the operational and financial details between head office and agencies or franchises (A) Signup and view all the answers

Which of the following is NOT mentioned as a potential element of venue contracts in the text?

Contracts for outsourcing staff recruitment and training (B) Signup and view all the answers

What is one of the purposes of marketing agreements?

To identify the type and extent of marketing activities to be undertaken (B) Signup and view all the answers