Key Terms
A bargain, agreement, and compromise, could all be synonyms for this.
What is Negotiation.
This negotiation style focuses on collaboration and finding mutually beneficial solutions.
What is cooperative style
This acronym refers to the zone where both parties' expectations overlap and an agreement can be reached.
What is ZOPA or the zone of possible agreement
This first phase of a negotiation involves gathering information, setting objectives, and preparing strategies.
What is preparation
The process of negotiating employment terms, including salary and benefits, typically involves this type of negotiation.
What is salary negotiation
This is a debate between 2 or more people that tries to maximize an outcome of a situation surrounding a resource or topic.
What is Negotiation
In this style, the negotiator is more concerned with winning than maintaining relationships, often using competitive tactics.
What is competitive style
This term describes a situation where both parties agree to give up something to reach a common solution.
What is a concession
During this phase, both parties begin discussing their positions, presenting offers, and setting the tone for the negotiation.
What is "Opening phase"
This type of negotiation often happens when companies merge, involving discussions over shares, management control, and integration strategies.
What is merger/merging negotiation
Win-Lose is the outcome of which type of negotiation?
What is distributive negotiation
This style is characterized by making concessions in order to reach an agreement, even if it’s not the most optimal outcome for both sides.
What is compromising style
This term refers to a list of items that can be bargained over in negotiations, typically involving trade-offs and priorities.
What is a bargaining range
This phase is about making concessions, addressing objections, and working through disagreements to find common ground.
What is the bargaining phase
In this negotiation scenario, a company negotiates with suppliers or distributors to determine prices, terms, and conditions for products or services.
WHat is procurement negotiation
Win-Win is the outcome of which type of negotiation?
What is integrative negotiation
In this style, the negotiator is generally more concerned with maintaining the relationship than with achieving a favorable deal.
What is accommodating style
A term for the sum of resources or value both sides are willing to negotiate over, commonly seen in a business deal.
What is a negotiation pool
In this phase, both parties agree to the terms and finalize the deal, often involving signing agreements or contracts.
What is the closing phase
The negotiation terms of a partnership agreement, focusing on revenue division, reasonability, roles/jobs, is common in this type of business negotiation.
What is Joint venture/mutual benefit negotiation
This term refers to the Best Alternative to a Negotiated Agreement
What is BATNA
This negotiation style seeks to avoid conflict and confrontation by either avoiding the negotiation altogether or yielding to the other party’s demands.
What is avoiding style
This term refers to a final, non-negotiable offer made by one side in an attempt to end the bargaining process.
What is a final offer
This final phase involves following through on agreements, monitoring the execution of the deal, and resolving any issues that arise.
What is post-negotiation phase
Negotiating the terms of intellectual property, such as patents or trademarks, often involves this specific type of negotiation.
What is an Intellectual property/intangible assets negotiation