4 1. Game Theory was born out of the desire to figure out how to enhance decision making and strategy, specifically in the game of: chess dice poker checkers QUESTION 5 1. The second of the four basic points or elements of principled negotiations is "Focus on interests, not____________." objectives positions gains problems QUESTION 6 Sometimes negotiations will result in a stalemate or ___________. impasse settlement disagreement argument QUESTION 7 A soft positional negotiator readily makes concessions in an attempt to avoid conflict. A soft positional negotiator may also _______________. try to be nice or amicable or friendly distrust others feel happy about the deal Answers 1 and 3 above QUESTION 8 Any method of negotiation may be fairly judged by three criteria: it should produce a wise agreement, it should be efficient, and it should improve or at least not damage the _________ between the parties. agreement relationship compromise negotiation QUESTION 9 One of simplest games in Game Theory is the ___________________ game in which every possible pair of numerical outcomes adds up to zero. equal strategy equilibrium zero sum strategic form QUESTION 10 The five elements of negotiations identified in your book, Negotiating Essentials include the parties and their interests, interdependency, common goals, flexibility, and decision-making ability. With respect to common goals, this includes both content and ___________ goals. relationship financial process trust QUESTION 11 Taking positions serves some useful purpose in negotiation, it tells the other side what you ________, it provides an anchor, and it can produce an acceptable agreement. want need care about require QUESTION 12 Distributive negotiation is a type of negotiation which is sometimes referred to as: the distribution of a fixed sum of value or fixed pie zero sum negotiation a win-win negotiation Answers 1 and 2 above QUESTION 13 Integrative bargaining is a negotiation process in which the parties try to: Maximize their own benefit at the expense of the other party; Cooperate to create value and mutual gain; Maximize benefits by integrating their interests; Answers 2 and 3 above QUESTION 14 In the process of Principled Negotiation, ideally you try to put together a deal where you look for __________. settlement. mutual gain. problems. each ides positions. QUESTION 15 The last of the four basic points or elements of principled negotiations is "Insist on using __________________." your relationship objective criteria BATNA to know when to walk away your power QUESTION 16 The four basic stages of negotiation are: Opening session, set ground rules, bargain, and close deal Preparation, opening session, bargaining, and settlement Preparation, opening session, bargaining, and impasse Determine BATNA, identify issues, set priorities, and develop support arguments QUESTION 17 ADR stands for Alternative Dispute Resolution which includes mediation and arbitration. One of the key differences between mediation and arbitration is that arbitration _____________. involves a neutral third party can provide a private and confidential process is voluntary unless specified in a contract is final and binding. QUESTION 18 Your ethical belief system is the basis for your: ethics values trust in others morality QUESTION 19 According to the book Negotiating Essentials, which of the following statements is a myth? Good negotiators look for common interests Good negotiators are born Good negotiators consider alternatives Good negotiators never lie QUESTION 20 The process of Principled Negotiation or Negotiation on the Merits is described as deciding issues on the ____________. objectives basis of fairness merits positions of each party QUESTION 21 __________________ trust is a mutually advantageous form of trust made on the belief that the other party intends to perform an action that is beneficial to both parties and can be identified with the term "trust but verify". Deterrent-based Identity-based Self-interest Relational QUESTION 22 Insist on using ____________criteria; the more you insert standards of fairness, efficiency, or scientific merit, the more likely you will produce a wise and fair agreement. fair standard objective reasonable QUESTION 23 Which of the following is not one of the 5 W's in the development of the ground rules? Who will speak for each of the parties. What will be the acceptable form of the agreement. How will offers be made and which issues will be discussed. Which form of mediation will take place if impasse occurs. QUESTION 24 The most important part of the negotiation process is the . preparation stage opening offer act of compromising to get a good agreement bargaining stage QUESTION 25 ___________________trust is developed between parties when there is a severe penalty in a contract that is imposed if one or both of the parties do not perform. (penalties in a construction contract for non-performance.) Identity-based Deterrent-based Relational Institutional based QUESTION 26 In the process of inventing options, you should separate the act of inventing from deciding, broaden your options, look for mutual gains, and by making their decision easy. Some of the obstacles to inventing options include: searching for the single answer believing that solving their problem is not yours to solve premature judgment all the above QUESTION 27 A hard positional negotiator sees the situation as a _________________. . contest of wills process of compromise game of war fight to the end QUESTION 28 The opening offer in a distributive bargaining situation is important because it serves to __________ the negotiation and can greatly affect the final settlement value. initiate maximize anchor legitimize bracket QUESTION 29 BATNA stands for __________________________. Better Alternative Terms and Numbers Available Best Amendments to a Negotiation Action Better Answers to Negotiated Agreement Best Alternative to a Negotiated Agreement QUESTION 30 If your BATNA is the most essential bargaining power or greatest source of power during a negotiation, you should: Keep your BATNA concealed Try to weaken the other party s BATNA Team up with other parties to increase your BATNA All the above QUESTION 31 The first of the four basic points or elements of principled negotiations is "Separate the people from the ___________." interests problem position objective QUESTION 32 The three components of distributive bargaining are: A. the parties view each other as adversaries; the objective of each party is to create value; and the parties are only concerned with the current negotiation. B. the parties view each other as adversaries; the objective of each party is to maximize their self-interest; and the parties are concerned with their relationship. C. the parties view each other as adversaries; the objective of each party is to maximize their self-interest; and the parties are only concerned with the current negotiation. D. the parties view each other as adversaries; the objective of each party is to create value; and the parties are concerned with their relationship. QUESTION 33 Ethics is the study of: values morality belief systems all the above QUESTION 34 During negotiations, identify the other party's interests and ask yourself "why and why not?" by putting yourself in their ___________. shoes position situation none of the above QUESTION 35 ________________bargaining is the most common form of negotiation. Integrative Hard Positional Distributive QUESTION 36 According to the book "Getting to Yes" , in Positional Bargaining each side takes a position, argues for it, and makes concessions to reach a _____________. negotiated agreement deal compromise resolution QUESTION 37 The definition of Negotiation (According to "Getting to Yes" ) - Negotiation is a basic means of getting what you want from others. It is back-and-forth communication designed to reach an agreement when you and the other side have some _____________ that are shared and others that are opposed. interests concerns problems issues QUESTION 38 Trust plays a significant role in successful negotiations because all negotiations involve some level of __________. lying risk relationship power QUESTION 39 One social norm is called the equality norm in negotiations. This fairness norm often involves _____________________. splitting the pie based on the proportional input of the parties splitting the difference or dividing 50-50 splitting the pie based on need maintaining the status quo. QUESTION 40 The absolute maximum price that a buyer is willing to pay is called their: price point asking price reservation value or price first offer settlement price