Class notes
COMM151 Post Midterm Summary Notes
- Course
- Institution
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.
[Show more]
Seller
Follow
kyllabozek
Content preview
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 !
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 kyllabozek. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.31. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now