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knowledge
Understanding
Application
100
what are the three types of zones?
buyers buying zone, negotiation zone & sellers selling zone
100
Management’s bargaining range for a wage increase is 1% to 6%. The union’s range is 4% to 10%. What is the bargaining zone?
between 4% and 6%
100
Explain a time where you had to bargain for something.
Varies
200
What is a bargaining zone?
the area where each side’s bargaining range overlaps, and is the area in which agreement is possible
200
Assuming you need to bargain your salary with your new boss as he is hiring you. Your boss is offering you $5,000 but actually he is willing to pay you $6,000 to get you to the job. You are expecting a salary of $6,500 but you are willing to take the job at $5,500.What is your bargaining zone?
it is anywhere between $5,500 to $6,000.
200
You are walking in the streets of New York and notice someone selling a knock off chanel purse. The seller says it is $100 but the most you are willing to pay is $60. What would you say in order to negotiate the price?
varies
300
The predictions made about the bargaining zone are based on what?
radical expectation
300
Consider an employee's sick leave at a job. Management’s position ranges between 2 and 8 days, while the union’s position is 5 to 13 days. What is the bargaining zone?
The bargaining zone is between 5 and 8 days
300
Why would negotiation benefit you in your future career?
without negotiation, conflicts may lead to an argument and resentment resulting in one or all of the parties feeling dissatisfied.
400
If you want to come to an agreement through negotiation, Should you negotiate outside the bargaining zone? Why or why not?
No because the maximum acceptable point is the bottom line of the other party, if you keep negotiating above their maximum acceptable point, your relationship will be ruined.
400
A seller posted an ad to sell a 2006 Toyota Corolla. The listing price was for $5800, but there was no way the seller was willing to take less than $4550. A buyer approaches the seller and proceeds to negotiate. He is not willing to spend more than $6000 but wants to get it as minimal as possible, so he offers $5200. Is this a good offer? Why or Why not?
Yes, it was within the range that was acceptable as the seller.
500
What is the negotiation zone known as?
reservation zone
500
Kim wants to buy a used Financial Accounting textbook. The bookstore is selling it for $100 and she hopes to get one for $65 but is willing to pay up to $85 for one in good condition. Kourtney posted on Facebook that’s she’s selling her Financial Accounting textbook for $90. She can sell it back to the bookstore for $65 so she wont go lower than that price. What would be an acceptable deal?
Around $80 for the textbook