MGT 365 Lecture 3: Tangibles vs. Intangibles
11 Sep 2018
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Document Summary
Successful negotiation involves management of tangibles & resolution of intangibles: tangibles, price, terms of agreement, intangibles, underlying psychological motivations that may directly/indirectly influence parties during a negotiation, ex: the need to: Look (cid:498)good(cid:499), (cid:498)competent,(cid:499) or (cid:498)tough(cid:499) to ppl they represent. Defend an important principle/ precedent in a negotiation. Maintain good relationship w/ other party after negotiation is over. Primarily done by maintaining trust & reducing uncertainty: often rooted in personal values & emotions, factors can have an enormous influence on negotiation processes & outcomes. It"s almost impossible to ignore intangibles b/c they affect judgment about what"s fair/right/appropriate in resolution of tangibles. There are times when urge to win overwhelms logic: q: what fuels competitive dynamics that lead to bad decisions, there are several key factors, rivalry: Parties are intensely competitive with one another. Willing to suspend rational decision-making: time pressure: Artificial deadline can push people into quick decision-making. Audiences is present to watch & evaluate.
