Finance

Q: ________________________ is a conflict situation wherein parties seek their own advantage through tactics including concealing information, attempting to mislead or using manipulative actions.

Q: The ________________________ tactic occurs when negotiators overwhelm the other party with so much information that they have trouble determining which information is real or important.

Q: Good ____________ is critical for defending against the lowball/highball (or all) hardball tactics.

Q: Most hardball tactics are designed to either ____________ the appearance of the bargaining position of the person using the tactic or to ________________________ the appearance of the options available to the other party.

Q: When acting as if the decision to close the deal has already been made, the negotiator is using the ____________________________________ method of closing the agreement.

Q: Another way to strengthen a commitment and encourage further concessions is to ____________ with one or more prior concessions.

Q: A reasonable initial concession communicates a basic stance of ___________.

Q: An offer that may have been accepted had it emerged as a result of ________________________ may be rejected when it is presented as a fait accompli.

Q: If one side is not prepared to make concessions, the other must ____________ or the negotiations will ___________.

Q: To communicate effectively, a negotiator should try to send a consistent message through both an opening ____________ and an opening ___________.

Q: In some ways, the ultimate weapon in negotiation is to threaten to _______________________.

Q: Channeling all communication through a ________________________ reduces inadvertent revelation of information.

Q: Selective ____________ reduces the likelihood of making verbal slips or presenting any clues that the other side could use to draw conclusions.

Q: The more attractive the other party's alternatives, the more likely he or she will be to maintain a ____________ resistance point.

Q: Central to planning the strategy and tactics for distributive bargaining is effectively locating the other party's _______________________.

Q: The package of issues for negotiation is the _______________________.

Q: ____________ are important because they give the negotiator power to walk away from any negotiation when the emerging deal is not very good.

Q: A ____________ bargaining range occurs when the buyer's resistance point is above the seller's.

Q: The spread between the resistance points is called the _______________________.

Q: The ________________________ is the point beyond which a person will not go and would rather break off negotiations.

Q: Whether or not one or both parties in a distributive bargaining situation achieve their objectives will depend upon the ____________ and ____________ they employ.

Q: Distributive bargaining is basically a competition over who is going to get the most of a _______________________.

Q: What are the five major strategies for conflict management (as identified in the Dual Concerns framework)?

Q: Where would you likely to find the concept of "yielding" on the dual concerns model?

Q: The Dual Concerns Model is a two-dimensional framework that postulates that people in conflict have two independent types of concern. What are those two types of concerns?

Q: Conflict also has productive aspects and one of those is that conflict encourages psychological development. Elaborate.

Q: How does decreased communication contribute as one of the destructive images of conflict in a negotiation?

Q: Explain how conflict is a potential consequence of interdependent relationships.

Q: Name the four levels of conflict that are commonly identified.

Q: Define synergy?

Q: Why should negotiators be versatile in their comfort and use of both value claiming and value creating strategic approaches?

Q: Describe the strategies and tactics a negotiator would employ in a distributive bargaining situation.

Q: What are concessions?

Q: What role do concessions play when a proposal isn't readily accepted?

Q: What does BATNA stand for?

Q: Describe a "mutual gains" situation.

Q: Define "zero-sum" situation.

Q: What are the three ways that characterize most relationships between parties?

Q: Why do parties negotiate by choice?

Q: Is the give-and-take process used to reach an agreement the "heart of the negotiation" as most people assume.

Q: What are the three reasons negotiations occur?

Q: Whereas distributive bargaining is often characterized by mistrust and suspicion, integrative negotiation is characterized by which of the following? A.obligation and perseverance B.avoidance and compromise C.influence and persuasiveness D.trust and openness E.cognition and emotion

Q: Negotiators pursuing the yielding strategy A.show little interest or concern in whether they attain their own outcomes, but are quite interested in whether the other party attains his or her outcomes. B.pursue their own outcome strongly and shows little concern for whether the other party obtains his or her desired outcome. C.shows little interest or concern in whether they attain their own outcomes, and does not show much concern about whether the other party obtains his or her outcomes. D.show high concern for attaining their own outcomes and high concern for whether the other attains his or her outcomes. E.Negotiators pursuing the yielding strategy demonstrate none of the above behaviors.

Q: An individual who pursues his or her own outcomes strongly and shows little concern for whether the other party obtains his or her desired outcomes is using another of the following strategies. Which one? A.yielding B.compromising C.contending D.problem solving E.None of the above.

Q: In the Dual Concerns Model, the level of concern for the individual's own outcomes and the level of concern for the other's outcomes are referred to as the A.cooperativeness dimension and the competitiveness dimension. B.assertiveness dimension and the competitiveness dimension. C.competitiveness dimension and the aggressiveness dimension. D.cooperativeness dimension and the assertiveness dimension. E.None of the above.

Q: Which of the following contribute to conflict's destructive image? A.increased communication B.misperception and bias C.clarifying issues D.minimized differences; magnified similarities E.All of the above contribute to conflict's destructive image.

Q: In intragroup conflict, A.sources of conflict can include ideas, thoughts, emotions, values, predispositions, or drives that are in conflict with each other. B.conflict occurs between individual people. C.conflict affects the ability of the group to resolve differences and continue to achieve its goals effectively. D.conflict is quite intricate because of the large number of people involved and possible interactions between them. E.None of the above describes intragroup conflict.

Q: Which of the following statements about conflict is true? A.Conflict is the result of tangible factors. B.Conflict can occur when two parties are working toward the same goal and generally want the same outcome. C.Conflict only occurs when both parties want a very different settlement. D.Conflict has a minimal effect on interdependent relationships. E.All of the above statements about conflict are true.

Q: Satisfaction with a negotiation is determined by A.the process through which an agreement is reached and the dollar value of concessions made by each party. B.the actual outcome obtained by the negotiation as compared to the initial bargaining positions of the negotiators. C.the process through which an agreement is reached and by the actual outcome obtained by the negotiation. D.the total dollar value of concessions made by each party. E.Satisfaction with a negotiation is determined by none of the above.

Q: How much to believe of what the other party tells you A.depends on the reputation of the other party. B.is affected by the circumstances of the negotiation. C.is related to how he or she treated you in the past. D.is the dilemma of trust. E.All of the above.

Q: What are the two dilemmas of negotiation? A.the dilemma of cost and the dilemma of profit margin B.the dilemma of honesty and the dilemma of profit margin C.the dilemma of trust and the dilemma of cost D.the dilemma of honesty and the dilemma of trust E.None of the above.

Q: BATNA stands for A.best alternative to a negotiated agreement. B.best assignment to a negotiated agreement. C.best alternative to a negative agreement. D.best alternative to a negative assignment. E.BATNA stands for none of the above.

Q: A zero-sum situation is also known by another name of a situation. Which of the following is that? A.integrative B.distributive C.win-lose D.negotiative E.None of the above.

Q: Interdependent parties' relationships are characterized by A.interlocking goals. B.solitary decision making. C.established procedures. D.rigid structures. E.Interdependent relationships are characterized by all of the above.

Q: Which of the following is not an intangible factor in a negotiation? A.the need to look good B.final agreed upon price on a contract C.the need to appear "fair" or "honorable" D.to maintain a good relationship E.All of the above are intangible factors.

Q: Tangible factors A.include the price or terms of agreement. B.are psychological motivations that influence the negotiations. C.include the need to look good in negotiations. D.cannot be measured in quantifiable terms. E.None of the above statements describe tangible factors.

Q: Which is not a characteristic of a negotiation or bargaining situation? A.conflict between parties B.two or more parties involved C.an established set of rules D.a voluntary process E.None of the above is a characteristic of a negotiation.

Q: A situation in which solutions exist so that both parties are trying to find a mutually acceptable solution to a complex conflict is known as which of the following? A.mutual gains B.win-lose C.zero-sum D.win-win E.None of the above.

Q: To most people the words "bargaining" and "negotiation" are A.mutually exclusive. B.interchangeable. C.not related. D.interdependent. E.None of the above.

Q: Which perspective can be used to understand different aspects of negotiation? A.economics B.psychology C.anthropology D.law E.All of the above perspectives can be used to understand different aspects of negotiation.

Q: The dual concerns model has two dimensions: the vertical dimension is often referred to as the cooperativeness dimension, and the horizontal dimension as the assertiveness dimension.

Q: Negotiation is a strategy for productively managing conflict.

Q: Intragroup conflict occurs between groups.

Q: Conflict doesn't usually occur when the two parties are working toward the same goal and generally want the same outcome.

Q: Differences in time preferences have the potential to create value in a negotiation.

Q: Negotiators do not have to be versatile in their comfort and use of both major strategic approaches to be successful.

Q: In contrast, non-zero-sum or integrative or mutual gains situations are ones where many people can achieve their goals and objectives.

Q: The pattern of give-and-take in negotiation is a characteristic exclusive to formal negotiations.

Q: The effective negotiator needs to understand how people will adjust and readjust, and how the negotiations might twist and turn, based on one's own moves and the others' responses.

Q: Remember that every possible interdependency has an alternative; negotiators can always say "no" and walk away.

Q: In any industry in which repeat business is done with the same parties, there is always a balance between pushing the limit on any particular negotiation and making sure the other partyand your relationship with himsurvives intact.

Q: The value of a person's BATNA is always relative to the possible settlements available in the current negotiation, and the possibilities within a given negotiation are heavily influenced by the nature of the interdependence between the parties.

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