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MGT3513 FinalNotes (aced the test and got 96%)

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MGT 3513
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Team and Multiparty NegotiationsFinalFriday November 05 1234 PMTeam NegotiationsoA group qualifies as a team only if its members help one another accomplish a common objectiveoAll teams are groups but not all groups are teamsoTeams are interdependent on outcomesyou succeed or fail togetheroCharacteristicsMultiple RolesWhen you have a team people assume different rolesYou can have someone on the team that is chief negotiator someone who records all meeting minutes and what the group decides someone who keeps track of all the information that is exchanged during the negotiationInfluenceIts important to look at team interactionWhenever you have a teamyou have bargaining across groups and interorganizational bargaining bargaining within teamsoEspecially true in preparation when youre beginning to negotiate you see how the team works togetherPeople naturally think that the spokesperson for the other team has the most power and influence not always the casePerformanceTeams perform better in integrative bargaining than do solos negotiatorsoThis is true whether its a team vs solo or team vs teamHaving at least 1 team involved in the negotiation leads to more integrative outcomeso2 reasonsWhen a team is involved in a negotiation more information gets exchanged you need to have a free flow of informationThey are more accurate in their assessment of the other sides interests and priorities they do a better job of interpreting the information they receiveTeam efficacy effect teams always outperform solo negotiatorsSolo negotiators are better off negotiating with teamsTeam halo effect not only do people think that teams negotiate better but if you control for a negotiated outcome people are less likely to blame the team for negotiating failures than a solo negotiatoroChallenges Facing TeamsChoosing Teammates you want to choose the appropriate teammatesHaving people that you know and like can lead to more information exchange and cohesivenessNegotiation expertise someone who knows how to prepare for negotiations select strategy Someone who knows about negotiation and how it worksTechnical expertise someone who knows about the domain in interest You want someone on your team who knows the complexity of the issues youre negotiating Can help you negotiation settlement opportunities They know whats important about the issuesInterpersonal skills the person who performs the negotiation Good communicating skills Earns the other parties trust Turns the powerrights based negotiation into an interest basedHow many on the team2 or 3 heads are better than oneConformity pressures increase as the number of members increasesConformity pressures going along with what everyone else thinksInformation processingA major advantage of having a team is the division of labor Different people are responsible for different things Everybody doesnt have to know everythingWhen you divide up responsibilities you decrease the redundancies in knowledge Fewer people have access to important informationoThe way you get around that is by getting teams to prepare together Transactive memory working together on a projectoEven though you dont know everything you know what the other team members know You know which member is supposed to know the different issuesMultiparty Negotiationsoanytime you have 3 or more parties with their own interests you have multiparty negotiationoIncreased Complexitities because you have more people involvedoInformation and Computational Complexityyou have more people at the bargaining table you have more issues to negotiate you have more perspectives on the different issues more information to exchange All of this complexity has to be managed Keeping track of this becomes a problem People use charts to track the issues and the partys stance on the issuesoSocial Complexity in a solo vs solo negotiation you only have an interaction between 2 individuals As parties are involved that brings on a group dynamic You have multiple people that you have to interpret Whats the orientation of each personCommunications breakdownsSome people send incorrect messages some people send correct messages but theyre being interpreted incorrectly and some people dont send enough messagesPrivate caucasing coalition formationTypically occurs between negotiators who have decided that they share a common interest with some of the other negotiators they meet outside of the groupCoalition formation some of the negotiators join forces with others to try to achieve their objectives often excluding other parties in the negotiation
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