BU121- Final Exam Guide - Comprehensive Notes for the exam ( 64 pages long!)

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29 Mar 2018
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BU121
Final EXAM
STUDY GUIDE
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BU121 LECTURE 9
NEGOTIATING
The One-minute Negotiator Model
- What is negotiation?
o Process more important than the destination
o 2 or more parties whose positions are not necessarily consistent work
together to reach an agreement
- Do you need to know how to negotiate?
o A skill you need in your everyday life
o Ex. When we were deciding what to do for New Venture, we all had
different ideas and then we negotiated to arrive at one
o Life is a negotiation
- Negotiaphobia disease of attitude and skill deficiency
o Many people see negotiations as act of combat or conflict
o Skill you need to work on
Three-step EASY treatment process
- Engage
o Recognize you are in a negotiation and quickly review the viable
strategies
- Assess
o Evaluate your tendency to use each of the negotiation strategies as
well as the tendencies of the other side
- Strategize
o Select the proper strategy for this particular negotiation
- Your one minute drill
o Each time you begin a negotiation situation, take a minute to review
the 3 steps
Thomas-Kilmann Conflict Mode Instrument
- Has compromise as a factor not a good method
o Both parties are unhappy
- Late in the negotiation process after legitimate strategies fully used
- When only a small gap remains on one issue
- Always directly tied to an agreement
Negotiation Strategy Mix
- Accommodation
o Be cautious the other side will win
o People who are negotiaphobic tend to do this
- Competitive
o There is only so much so if you want the reward, you must compete
because only one person can have it
o Engage very quickly and get what you want
o You will damage relationship
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- Collaboration
o What you ideally want to do
o Both sides will win
o Both sides engaged and were proactive to work together to find a
mutually effective agreement
- Avoidance
o Pretend it’s not happening, not an effective strategy but there are
minor times when it is useful
- What really matters is how the other side sees you
o Affects how they negotiate with you
o Know yourself as others know you
- 2 categories of collaborators
o Sages and Dreamers
Sage: very wise and knowledgeable, they see when
collaboration is possible
Dreamer: Overestimate their ability to collaborate, always
collaborate
Problem: people don’t always meet you in collaboration, you
need 2 people to collaborate
Dreamers are probably collaborating on their own, which
means that they are accommodating
Unilateral collaboration is de facto accommodation
o Check strength of accommodation tendency vs. competition tendency
Collaboration opportunity?
- Biggest concern: When the number for any strategy is way too high
o Deploy this strategy regardless of the situation and the strategy used
by the other party
Assess Their Tendency
- Most people are extremely predictable
o If you are observant and can pinpoint their position on the map, you
can predict their tendency
- Key is to be observant enough to recognize it
o Behavioral style and company culture
- 4 basic interaction styles similar to DISC
o Pace of information exchange
Active, passive, proactive, reactive
Are they focusing on task or relationship? Cooperative or nah?
Driver - D
Expressive - I
Amiable - S
Analytical C
Strategize
- None of the four strategies are universally applicable or appropriate
- Avoidance
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