Class notes

COMM151 Post Midterm Summary Notes

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Course
COMM151

Institution
Queen’s University (QU )

These notes are a summary of all topics covered after the midterm in this class. All notes are based of the slide shows taught in class by the professor.

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Uploaded on July 15, 2024
Number of pages 6
Written in 2023/2024
Type Class notes
Professor(s) Christopher miners
Contains Classes from february 21st to april 3rd

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Individual Decision-making
:
Explanations for escalation of commitment
·

self-justification / dissonance reduction
·

failure to treat sunk costs as sunk
·

social norm of consistency in behaviour

avoiding the appearance of being wasteful
framing

help prevent escalation of commitment
change the frame
set specific goals , that must be met first
place more emphasis on decision making over the outcome

Rational-economic/ perfect Rationality
analytical information processing is
:
through and systematic

Bounded Rationality
heuristic information processing relies on rules that simplify
decision making

GROUP THINK :
mode of thinking when deeply involved in a cohesive
group, Members strive for unanimity
Avoid groupthink :

·

assign role of 'devils advocate
bring in outsiders
·

avoid being for directive
generate comprehensive
alternatives
search for info. to determine
quality
examine pros & cons of
alternatives
·

examine costs benefits & risks
,

·

monitor the results & react
know risks become a reality

, Negotiation
:
Process of making Joint decisions when the Parties involved have

different preferences
goals of negotiations :
maximize the amount of value that you create
claim as much of that value as possible
Proper Prep :
BARGAINING ZON :
self-assessment 150K 152k 154K 155

other Party assessment
I
-
bargaining zone

situational assessment
company your the company YR
reservation reservation offer

Rule 1 : know yourself
:
What is my target ?
: Best alternative to a negotiated agreement /BATNA) ?
: Reservation Point ?
Distributive Negotiation strategy
Rule 2 :
know your opponent threats and promise
Who is my opponent ? firmness vs Concessions
·

:
.

What is opponents position ? Persuasion
:
my
:
opponents interests ?
:
Opponents BATNA ? Integrative Negotiation strategies
do not compromise
Rule 3 :
know your situation share info
:
environment matters frame differences as opportunities
negotiation a one-off or part cut the costs
of an ongoing relationship ? and issues to make package
agreement required ? deals
introduce superordinate goals

Sub-Arctic Survival
>
- do teams make better decisions
than individuals?
>
- yes !

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