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Finance

Q: Integrative agreements have been shown to be facilitated when parties exchanged information about their positions on particular issues, but not necessarily about their priorities on those issues.

Q: The failure to reach integrative agreements is often linked to the failure to exchange sufficient information that will allow the parties to identify integrative options.

Q: In integrative negotiation, the goals of the parties are mutually exclusive.

Q: When there are strong negative feelings or when one or more parties are inclined to dominate, negotiators may create ___________, ____________ procedures for communication.

Q: When people trust each other, they are more likely to share _____________ and to _____________ accurately their needs, positions, and the facts of the situation.

Q: People who are interdependent but do not trust each other will act ____________ or ___________.

Q: Even cooperatively motivated negotiators have less trust, exchange less information about preferences and priorities, and achieve agreements of lower joint profit when they can ____________ the other party than when they do not have this capability.

Q: For integrative negotiation to succeed, the parties must be motivated to ____________ rather than to compete.

Q: Integrative negotiation requires negotiators to accept both their own and the other's attitudes, interests and desires as ___________.

Q: Those who do not share a belief that they can work together in an integrative negotiation are less willing to invest the time and energy in the potential payoffs of a collaborative relationship and are more likely to assume a ____________ or ____________ approach to conflict.

Q: A ____________ goal is one in which both parties work toward a common end but one that benefits each party differently.

Q: The strategy of ____________ is effective not only in inventing options, but also as a mechanism to combine options into negotiated packages.

Q: Integrative negotiation solutions should be judged on two major criteria: how ____________ they are, and how ____________ they will be to those who have to implement them.

Q: Research has shown that when brainstormers work at the process for a long period of time, the best ideas are most likely to surface during the ____________ part of the activity.

Q: ________________________ is not directly related to the substantive issues being discussed.

Q: _________ interests are related to how the negotiations unfold.

Q: Instead of ____________ solutions, negotiators should develop standards by which potential solutions will be judged for how well they fit.

Q: Problem definition should specify what ____________ must be overcome for the goal to be attained.

Q: As a problem is defined jointly, it should accurately reflect both parties' ____________ and ___________.

Q: The ________________________ step is often the most difficult step in the integrative negotiation process.

Q: In integrative negotiation, ____________ are measured by the degree to which they meet both negotiators' goals.

Q: In an integrative negotiation, negotiators must be ____________ about their primary interests and needs, but ___________ about the manner in which these interests and needs are met through solutions.

Q: Successful integrative negotiation requires that the negotiators search for solutions that meet the ____________ and ____________ of both (all) sides.

Q: Effective ____________ exchange promotes the development of good integrative solutions.

Q: Those wishing to achieve integrative results find that they must manage the ____________ and ____________ of the negotiation in order to gain the willing cooperation and commitment of the other party.

Q: Although the conflict may appear initially to be win-lose to the parties, ____________ and _____________________ will usually suggest win-win alternatives.

Q: What are the strategies for responding to hardball tactics?

Q: What are the risks involved when using hardball tactics?

Q: What is the disadvantage of letting the absence of further concessions convey the message of the final offer?

Q: What are the advantages of adopting a flexible position?

Q: What characteristics of original offer, opening stance and opening concession would signal a position of firmness? Of flexibility?

Q: What are the disadvantages of making a more extreme opening offer?

Q: Why is it advantageous to make an extreme opening offer?

Q: What are the three ways to manipulate the costs of delay in negotiation?

Q: What negative effect can be caused by using trivial items as distractions or magnifying minor issues?

Q: Define selective presentation.

Q: Define calculated incompetence.

Q: What is the simplest way to screen a position?

Q: What are the four important tactical tasks for a negotiator in a distributive bargaining situation?

Q: What can happen when one or both parties do not think they got the best agreement possible?

Q: How can a negotiation that begins with a negative bargaining range be resolved?

Q: A negative bargaining range occurs when:

Q: List two situations when distributive bargaining strategies are useful.

Q: Define distributive bargaining.

Q: The negotiator's basic strategy is to A.get information about the opposition and its positions. B.reach the final settlement as close to the other's resistance point as possible. C.convince members of the other party to change their minds about their ability to achieve their own goals. D.promote his or her own objectives as desirable, necessary, and inevitable. E.All of the above.

Q: Aggressive behavior tactics include A.the relentless push for further concessions. B.asking for the best offer early in negotiations. C.asking the other party to explain and justify their proposals item by item. D.forcing the other side to make many concessions to reach an agreement. E.Aggressive behavior tactics include all of the above.

Q: Hardball tactics are designed to A.be used primarily against powerful negotiators. B.clarify the user's adherence to a distributive bargaining approach. C.pressure targeted parties to do things they would not otherwise do. D.eliminate risk for the person using the tactic. E.Hardball tactics are designed to accomplish all of the above.

Q: Skilled negotiators may A.suggest different forms of a potential settlement that are worth about the same to them. B.recognize that not all issues are worth the same amount to both parties. C.frequently save a final small concession for near the end of the negotiation to "sweeten" the deal. D.make the last concession substantial to indicate that "this is the last offer". E.Skilled negotiators may take all of the above actions.

Q: When successive concessions get smaller, the most obvious message is that A.the negotiator is reaching the fatigue point. B.the resistance point is being approached. C.the concession maker's position is weakening. D.the negotiator has passed the resistance point. E.None of the above.

Q: Concession making A.indicates an acknowledgment of the other party. B.shows a movement toward the other's position. C.implies a recognition of the legitimacy of the other party's position. D.recognizes the other party's position. E.All of the above are characteristics of concession making.

Q: What statement about concessions is false? A.Concessions are central to negotiations. B.Concessions is another word for adjustments in position. C.Concession making exposes the concession maker to some risk. D.Reciprocating concessions is a haphazard process. E.All of the above statements are true.

Q: Parties feel better about a settlement when negotiations involve a(n) A.immediate settlement. B.single round of concessions. C.progression of concessions. D.fait accompli. E.All of the above.

Q: Good distributive bargainers will A.begin negotiations with the other party with an opening offer close to their own resistance point. B.ensure that there is enough room in the bargaining range to make some concessions. C.accept an offer that is presented as a fait accompli. D.immediately identify the other party's target point. E.All of the above are actions that good distributive bargainers will take.

Q: What action can be taken after the first round of offers? A.hold firm B.insist on the original position C.make some concessions D.make no concessions E.All of the above.

Q: The bargaining range is defined by A.the opening stance and the initial concession. B.the initial round of concessions. C.the bargaining mix and the opening stance. D.the opening offer and the counteroffer. E.The bargaining range is defined by all of the above.

Q: The opening stance is A.another name for the first round of concessions. B.the first price that a buyer quotes to a seller. C.the attitude to adopt during the negotiation. D.a package of concessions. E.All of the above describe the opening stance.

Q: Disruptive action tactics can cause A.embarrassment. B.increased costs. C.anger. D.escalation of conflict. E.Disruptive action tactics can cause all of the above.

Q: A large majority of agreements in distributive bargaining are reached when the deadline is A.near. B.flexible. C.past. D.undefined. E.None of the above.

Q: The more you can convince the other that you value a particular outcome outside the other's bargaining range, the more pressure you put on the other party to set by one of the following resistance points. A.high B.low C.modest D.extreme E.None of the above.

Q: The more you can convince the other party that your costs of delay or aborting negotiations are ___________, the more modest will be the other's resistance point. A.high B.modest C.extreme D.low E.None of the above.

Q: The resistance point is established by the ____________ expected from a particular outcome, which is in turn the product of the ____________ and ____________ of an outcome. A.cost; value; worth B.value; worth; costs C.value; cost; timeliness D.cost; importance; value E.None of the above.

Q: The objective of both parties in distributive bargaining is to obtain as much of which of the following as possible? A.bargaining range B.resistance point C.target point D.bargaining mix E.None of the above.

Q: Starting points A.are usually contained in the opening statements each negotiator makes. B.are usually learned or inferred as negotiations get under way. C.are not known to the other party. D.are given up as concessions are made. E.None of the above describes starting points.

Q: The target point is the A.point at which a negotiator would like to conclude negotiations. B.negotiator's bottom line. C.first offer a negotiator quotes to his opponent. D.initial price set by the seller. E.None of the above describes the target point.

Q: Distributive bargaining strategies A.are the most efficient negotiating strategies to use. B.are used in all interdependent relationships. C.are useful in maintaining long term relationships. D.can cause negotiators to ignore what the parties have in common. E.None of the above describes distributive bargaining strategies.

Q: An effective means of countering the intimidation tactic is to ignore it.

Q: The best response to the chicken tactic is to challenge the other party by responding with one's own chicken tactic, thereby calling the other's bluff.

Q: To respond to hardball tactics, a negotiator must identify the tactic quickly and understand what it is and how it works.

Q: Hardball tactics are infallible if used properly.

Q: Hardball tactics work most effectively against powerful, well-prepared negotiators.

Q: One way negotiators may convey the message that "this is the last offer" is by making a personalized concession.

Q: It is important to signal to the other party with both actions and words that the concessions are almost over.

Q: A small concession late in negotiations may indicate that there is little room left to move.

Q: If a major concession has been made on a significant point, it is expected that the return offer will be on the same item or one of similar weight and comparable magnitude.

Q: Parties feel better about a settlement when negotiations involve a progression of concessions.

Q: Studies indicate that negotiators who make low or modest opening offers get higher settlements than do those who make extreme opening offers.

Q: Selective presentation can be used to lead the other party to form the desired impression of your resistance point or to open up new possibilities for agreement that are more favorable to the presenter than those that currently exist.

Q: In "calculated incompetence," the negotiator is intentionally given false or misleading information to reveal to the other party.

Q: The first step for a negotiator completing a distributive bargaining negotiation is to obtain information about the other party's outcome values and resistance points.

Q: The more you can do to convince the other party that his or her costs of delay or aborting negotiations will be costly, the more likely he or she will be to establish a modest resistance point.

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