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Chapter 13 - Negotiation (Quiz)

Hanna Widgren 13 questions Updated 8 Apr 2019

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Questions in this quiz (13)

  1. 1WHAT IS NEGOTIATION?
    1. A• A process of formal communication, either face-to-face or via electronic means, where two or more people, groups, or organizations come together to seek mutual agreement about issue or issues
      o Involves management of time, information, and power between individuals and organizations who are interdependent
      • Relationships between people, not just organizations
      • Role of persuasion
      • Negotiation skills can be learned and enhanced
      • Supports implementation of supply management strategies and plans
    2. B• That point where it is advantageous to walk away from the negotiation
      o Best Alternative to a Negotiated Agreement
      o Bottom line or reservation point
      • Should never be revealed to other party
      • All settlements must be judged in light of all other viable alternatives existing at the time of the agreement
    3. C• Power
      o Ability to influence another person or organization to do something
      • Power by itself is neither good nor bad
      o It is actual application or use of power that makes it good or bad
      • Sources of negotiating power
  2. 2What is BATNA?
    1. A• That point where it is advantageous to walk away from the negotiation
      o Best Alternative to a Negotiated Agreement
      o Bottom line or reservation point
      • Should never be revealed to other party
      • All settlements must be judged in light of all other viable alternatives existing at the time of the agreement
    2. Bo Recess to assess new information and findings
      o Assess relative strengths and weaknesses
      o Review and revise objectives and positions, if necessary
      o Organize agenda
  3. 3What is phase 1?
    1. Ao Fact finding and information sharing
      o Clarify or confirm information
    2. Bo Recess to assess new information and findings
      o Assess relative strengths and weaknesses
      o Review and revise objectives and positions, if necessary
      o Organize agenda
    3. Co Meet face-to-face or electronically
      o Narrow differences on issues
      o Offer proposals and counterproposals
      o Exchange concessions
    4. Do Seek agreement
      o Conclude negotiation
      o Agree to follow-on activities
  4. 4What is Phase 2?
    1. Ao Recess to assess new information and findings
      o Assess relative strengths and weaknesses
      o Review and revise objectives and positions, if necessary
      o Organize agenda
    2. Bo Fact finding and information sharing
      o Clarify or confirm information
    3. Co Seek agreement
      o Conclude negotiation
      o Agree to follow-on activities
    4. Do Meet face-to-face or electronically
      o Narrow differences on issues
      o Offer proposals and counterproposals
      o Exchange concessions
  5. 5What is phase 3?
    1. Ao Seek agreement
      o Conclude negotiation
      o Agree to follow-on activities
    2. Bo Meet face-to-face or electronically
      o Narrow differences on issues
      o Offer proposals and counterproposals
      o Exchange concessions
  6. 6What is phase 4?
    1. Ao Recess to assess new information and findings
      o Assess relative strengths and weaknesses
      o Review and revise objectives and positions, if necessary
      o Organize agenda
    2. Bo Seek agreement
      o Conclude negotiation
      o Agree to follow-on activities
    3. Co Fact finding and information sharing
      o Clarify or confirm information
  7. 7• Strategy
    o Overall approach used to reach mutually beneficial agreement
    • Tactic
    o Art or skill of employing available means to accomplish an end, objective, or strategy
    o Includes supporting action plan and activities
    1. ADEVELOP THE NEGOTIATION STRATEGY AND ACCOMPANYING TACTICS
    2. BPOWER IN NEGOTIATION
    3. CREWARD IS POWER
  8. 8• Ready access to relevant and useful information
    • Presentation of facts, data, and persuasive arguments
    o Need for selective disclosure
    o Can be manipulated by withholding information or by providing false information
    1. AINFORMATIONAL POWER
    2. BREWARD IS POWER
    3. CCOERCIVE POWER
    4. DLEGITIMATE POWER
  9. 9• Taking away or withholding something of value to other party
    • Ability to punish
    • Financially, physically, or mentally
    • Can have damaging effects on long-term relationships
    • Promotes retaliation or getting even
    1. ALEGITIMATE POWER
    2. BCOERCIVE POWER
    3. CINFORMATIONAL POWER
  10. 10• Power based on official position held
    o The higher the job position or title, the greater the power inferred
    • May be separate from reward power or coercive power
    • Buyer has legitimate power due to his/her ability to award contract
    1. AEXPERT POWER
    2. BLEGITIMATE POWER
    3. CCOERCIVE POWER

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Description
Purchasing and Supply Mgmt Quiz on Chapter 13 - Negotiation (Quiz), created by Hanna Widgren on 08/04/2019.
Language
English
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Created on 8 Apr 2019 · updated on 8 Apr 2019
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