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Week 1 - Textbook Notes - Chapter 1 Notes Page 9...

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Chapter 1 – Notes Page 9: Characterization of Parties Involved: - Independent Parties : are able to meet their own needs without the help and assistance of others; they can be relatively detached indifferent, and uninvolved with others. - Dependent Parties : must rely on others for what they need; since they need help, benevolence, or cooperation of the other, the dependent party must accept and accommodate to that provides whims and idiosyncrasies. - Interdependent : the parties however, are characterized by interlocking goals 0 the parties need each other in order to accomplish their objectives. ~~ The types of Interdependence can affect the outcome. ~~ Zero-sum => When parties goals are linked together to help each other achieve their goals. Zero-sum is also referred to as Distributive, mutual gains situation and integrative. Page 11: Alternatives Shape Interdependence: ~~ Working together presents a better outcome than working alone. ~~ Page 13: 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 other’s responses. Page 14: Two Dilemma’s in Mutual Adjustment: The two dilemma’s negotiations face are as follows: o Dilemma of Honesty :> Concerns how much of the truth to tell the other party. o Dilemma of Trust :> How much should negotiators believe in what the other party tells them? Page 15: “Value Claiming & Value Creation” Zero-sum or Distributive Situations => are ones where there can be only one winner or where the parties are attempting to get the larger share or piece of a fixed resource, such as an amount of raw material, money, time, and the like. In Integrative Situations: > negotiations should employ win-win strategies and Tactics. This type of negotiations is called Integrative Negotiations. Integrative Negotiations: > attempts to find solutions so both parties can do well and achieve their goals. The purpose of this type of negotiation is to create value . o That is, to find a way for all parties to meet their objectives, either by identifying more resources or finding unique ways to share and coordinate the use of existing resources. Page 16:
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Values maybe created in numerous ways: These differences exist between the negotiators: o Differences in Interests. o Differences in Judgments about the future. o Difference in risk tolerance. o Difference in time preference . In summary, while value is often created by exploiting common interests, differences can also serve as the basis for creating values. CHAPTER 5: PERCEPTION, COGNITION, and EMOTION PERCEPTION, COGNITION, and EMOTION IN NEGOTIATION: The basic building blocks of all social encounters are: Perception Cognition Framing Cognitive biases Emotion PERCEPTION Perception is: The process by which individuals connect to their environment.
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