Exam (elaborations)
UGBA 105 Midterm- Test Questions & Answers
- Course
- Institution
UGBA 105 Midterm- Test Questions & Answers
[Show more]
Content preview
UGBA 105 Midterm- Test Questions &Answers
1. What are the 2 types of diversity—definition and examples (lecture/section) Correct Ans-
Inherent diversity - you're born with (race, demographic, sex)
Acquired diversity - you acquire it (major, profession, personality)
2. Know everything about negotiation
a. Tradeoff between a focus on the relationship vs. the deal (lecture/section) Correct Ans-
When negotiating, you can focus on relationships, interaction, deal. You should invest in good
relationships.
Establish rapport (relationships matter), prepare and know your BATNA(best alternative to
negotiated agreement), anchor (zone), focus on interests vs. positions (not zero-sum), and use
bundles.
A successful negotiation is one in which everyone wins (or feel like they due), it preserves
relationships
3. b. What is the myth of the fixed pie? (lecture/section) Correct Ans-When you think that it's
a zero sum game (that each incremental win for me is an incremental lost for you), when in
reality there are certain mutually beneficial opportunities (ex: the liability in the negotiation)
4.c. What is the parable of the lemon? (lecture/section) Correct Ans-The parable of the
lemon is the story about two sisters negotiating over who should get the one lemon that they
have. One sister wanted to make lemonade and one sister wanted to make a lemon pie. After a
while they realized that they could both use the lemon, because the sister wanting to make a
pie just needed the lemon zest while the other sister needed the lemon juice. This is a
metaphor for win-win negotiations where we are able to expand the pie so that both parties are
able to get what they want.
5d. How can the gender difference in negotiation be minimized? (lecture/section) Correct
Ans-Women can bridge the gender gap in negotiations by pretending to negotiate on behalf of
someone else. Ex. behalf of your team, or pretend someone hired you to negotiate for them.
, You miss 100% of the shots you don't take - don't be afraid to ask for a raise
5. e. What is focusing on positions vs. interests and how does each lead to a potentially different
outcome? (lecture/section) Correct Ans-Focusing on only a position typically leads to the
illusion that a person is unwilling to change their offer/objective/stance because of the "deal"
aspect of negotiating, while focusing on the interests (underlying desires/needs that give rise to
positions and motivate the negotiation) of both parties leads to a better deal because of the
understanding between both negotiators' position. This is very effective for integrative
bargaining.
6. f. What are these: distributive issues, compatible issues, integrative issues
(lecture/section/Rio Copa Foods case) Correct Ans-Distributive - when you value things in the
exact inverse way of your partner, the more your partner gets, the less you get ... and vice versa
(Non compete was distributive (max payoff of 1500 for both))
Zero sum game
Compatible - when you and your partner want the same thing, you can both win (The liability
was compatible (both win when liability is 100%))
Integrative - when you and your partner have different priorities on different issues (which is
almost always the case), you can trade what you want less of for what you want more
((Employees and cash amount were integrative (each partner valued each differently))
7. g. What is the efficient frontier (definition and explanation and how to get there)
(lecture/section) Correct Ans-The efficient frontier is the graph of all of the optimal outcomes
in a negotiation.If you are to the left of the efficient frontier then you performed suboptimally,
and a better deal could have been reached. It is impossible to be to the right of the efficient
frontier.
Were you and your partner get the ideal payoffs for you deal
7. h. What is a BATNA (lecture/section) Correct Ans-BATNA - Best Alternative To a Negotiated
Agreement
What are your options if you can't reach a deal?
Failing to understand:
Your BATNA - can't judge when to walk away, can't leverage with partner
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TheeGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now