BUSI 3706- Midterm Exam Guide - Comprehensive Notes for the exam ( 23 pages long!)
16 Feb 2018
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Document Summary
Successful negotiation involves: management of tangibles e. g. the price or terms of agreement, resolution of intangibles - the underlying psychological motivations such as winning and losing. In negotiation, parties need each other to achieve their preferred outcomes or objectives: the mutual dependency is called interdependence. Interdependent goals are an important aspect of negotiation: win-lose, win-win. Independent parties are characterized by interlocking goals: having interdependent goals does not mean that everyone wants or needs the exact same thing, a mix of convergent and conflicting goals characterizes many interdependent relationships. Interdependence and the structure of the situation shape processes and outcomes: zero-sum or distributive - one winner, non-zero sum or integrative - mutual gains situation. Alternatives shape interdependence: evaluating interdependence depends heavily in the alternatives to working together, the desirability to work together is better for outcomes, best available alternative: batna - best alternative to a negotiated agreement.
