MGMT1135 Study Guide - Midterm Guide: Anchoring, Agreeableness
Document Summary
Parties a and b represent two negotiators. Each has a target point that defines what he or she would like to achieve. Each also has a resistance point, which marks the lowest outcome that is acceptable the point below which the party would break off negotiations rather than accept a less favourable settlement. The area between these two points makes up each one"s aspiration range. As long as there is some overlap between a"s and b "s aspiration ranges, there exists a settlement range in which each one"s aspirations can be met. Research shows that when you"re engaged in distributive bargaining, one of the best things you can do is make the first offer, and make it an aggressive one. Individuals in power are much more likely to make initial offers, speak first at meetings, and thereby gain the advantage. People tend to fixate on initial information.
