Negotiation Book - Study Guide for Quiz 3 Real Estate...

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Study Guide for Quiz 3 Chapter 1: Don’t Bargain Over Positions 1. Arguing over positions produces unwise agreements. Explain a. Tend to lock self into position -> new interest in saving face -> neither party will be happy with the results 2. Arguing over positions is inefficient. Explain. a. Try to improve chance you’ll get what you want by establishing a ridiculous opening position -> wastes time because you have no incentive to move down quickly -> time and cost goes up, along with risk of not reaching an agreement 3. Arguing over positions endangers an ongoing relationship. Explain. a. When one person is forced to bend because the other is being rigid, it leads to anger and resentment 4. When there are many parties, positional bargaining is even worse. Explain. a. More people involved -> more serious drawbacks of negotiations and more people responsible to. -> coalitions: groups with similar ideas 5. Distinguish between soft and hard positional bargaining. a. Soft i. Friends -> agreement ii. Change position easily iii. Trust and offers iv. Disclose bottom line b. Hard i. Adversaries -> want victory ii. Don’t change position easily iii. Don’t trust iv. Threats v. Mislead bottom line 6. Briefly describe the four principles of principled negotiation. a. People: separate people from problem b. Interest: focus on interest, not position c. Option: create a variety of opportunities before deciding what to do d. Criteria: require results be based on some objective criteria Chapter 2: Separate the People from the Problem 1. Every negotiator has two kinds of interests. What are they? Explain briefly. a. Substance: satisfies interests b. Relationship: wants to keep customer 2. Deal directly with the people problem by understanding and acting on perception . Explain. a. Their thinking is the problem -> i. Put yourself in their shoes ii. Don’t deduce their intentions from your fears iii. Don’t blame them for your problems (counterproductive) iv. Discuss each other’s perception
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v. Look into ways to act inconsistently with those perceptions vi. Make proposals consistent with their values (face-saving) 3. Deal directly with the people problem by understanding and acting on
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This note was uploaded on 08/23/2011 for the course MARKETING 3104 at Virginia Tech.

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Negotiation Book - Study Guide for Quiz 3 Real Estate...

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