ORGS 4560 Lecture Notes - Lecture 33: Social Contract, Best Alternative To A Negotiated Agreement
28 Apr 2018
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ORGS 4560
Lecture 33
Risk Factors
• Problems of lack of awareness and benign neglect
• Negotiators form diverse organizational, professional, or national
cultures often bring clashing assumptions to the table
• Failure can also happen when one team uses a heavily price-driven
process to negotiate an alliance or acquisition
• A tightly aligned social and economic contract can be vulnerable if the
expectations and agreements that underline it are shared by only a
select few
Dovetailing the Contracts
• Not correct to think of social contract as unwritten and psychological
and economic as written and tangible
• A social contract should complement the economic one, but the
economic one should also embody much of the social one
Common Misperceptions
• Social contract should define how the relationship proceeds and the
nature of the relationship
• Both parties should move towards shared expectations about the
deal
o Not necessarily that they have a shared view
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