Discuss briefly the two radically different philosophies that guide negotiations.
What will be an ideal response?
The two radically different philosophies that guide negotiations are win-lose negotiating and win-win negotiating. In win-lose negotiating, the negotiator attempts to win all the important concessions and thus triumph over the opponent. In win-win negotiating, the negotiator attempts to secure an agreement that satisfies both parties.
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Why is the marginal revenue of a product important to the marketer?
What will be an ideal response?
Emma owns a bakery in Michigan. To save time, she buys ready-made edible cake decorations from a vendor in Wisconsin. This scenario exemplifies the purchase of a _____.
A. credence good B. composite good C. business product D. consumer product
Percy, age 17, purchased a used mobile home from a mobile home dealer for $20,000. This price, however, was twice the reasonable value of the mobile home. One month later, Percy wishes to disaffirm the contract. If the mobile home is considered a necessary, then:
A) Percy can disaffirm the contract based on the wrongful act of the dealer. B) Percy can disaffirm the contract because the minor can live in an apartment rather than a mobile home. C) Percy may keep the mobile home but is only liable for the reasonable value of the mobile home. D) Percy must keep the mobile home and abide by the original terms of the contract.
A limitation to Tichy’s model is that ______.
A. he barely mentions the people component B. it is not rational C. it does not take hard data into consideration D. all of these