1. In the
United States, culture dispute resolution negotiations tend to direct verbal
interactions between principles.
TRUE
FALSE
2. What is
the best example of an Anchor?
A. Prior to
selling his Mcdonalds franchise, a local business owner decides that the least
he is willing to sell it for is $1,300,00.
B. After a
few rounds of negotiations between an antique shop owner and a client, the
owner sells former president JFK’s work desk for $450,000.
C. A car
buyer visits Carmax and prior to entering the showroom decides that the most
she is willing to pay for a used BMW 5-series is $30,000.
D. At the
Miami beach boat show, a boat owner decides that he wants to sell his Sunseeker.
A potential buyer falls in love with the boat and makes an initial offer of
$700,000.
3. For what
reasons do governments seek FDI?
A. Develop
natural resources
B. Access to
technology
C. Job
Creation
D. Economic
development
E. All of
the above
4. What is
the best way to organize information for negotiation?
A. Using a
negotiation winning strategy (NWS)
B. Using a
BATNA Planning document (BPD)
C. Using a
negotiation planning document (NPD)
D. Using a
transactional negotiation template (TNT)
5. Kathy is selling
her house which she purchased 5 years ago at $200,000. If she wanted to
leverage precedent to decide her listing price, what should she do?
A. Start
with her purchase price and adjust for initiation
B. Ask her
friends/family what she should sell it for
C. Research
the price paid for similar properties in her neighborhood and adjust
accordingly.
D. None of
the above
6. Select
best example below illustrative of transaction costs.
A. The cost
of various dinners during which a client and vendor met
B. The cost
of hiring an accountant in order to file federal and state taxes
C. The cost
of a business consultant hired to help improve company processes
D. All of
the above
7. Which of
the below scenarios features integrative deal making?
A. At the Miami
flea market, a visitor falls in love with an antique gramophone. The sticker
next to the object highlights a price of $250. The buyer offers the fea market
vendor $150. The vendor denies the offer and asks at least $220. The client
points out that the item has a large scratch on the side and offers $220. The
vendor agrees on the concession and the purchase is made.
B. The
florida state Gov. makes a deal with a local developer to sell a plot of land
that is suspected to have buried native American artifacts in order to build a high-rise. Under the terms of the
deal that will allow te community to visit any native American artifacts that
are unearthed during the construction of the building.
C. A real
estate mogul wants to construct a shopping mall in update NYC in order to
construct a high-end shopping mall. A 78-year old curmudgeon owns the list
piece of property on the land and with a rate. Under pressure to close the deal
before the bank pulls their funding, the real estate mogul decides to pay the old
man his full asking price.
8. It is
possible to improve one’s BATNA in a negotiation
TRUE
FALSE
9. The rule
for setting targets is to base them on the other party’s BATNA.
TRUE
FALSE
10. There are
situations where you may not have a BATNA
TRUE
FALSE
11. Complete
the following sentence: Savvy global negotiators…
A. On
occasion lie about their BATNA
B. Do not
incur transaction costs
C. Let
counterparts know their BATNA
D. None of
the above
12. Deal-making
negotiations are usually categorized as distributive or integrative
TRUE
FALSE
13. On
occasion, parties will accept deals that are worse than BATNA
TRUE
FALSE
14. When two
parties or individual are in conflict, the best way to expedites dispute
resolution and allow conflict parties to safe face is to:
A. Involve a
third party
B. Have them
discuss and resolve their issues outside of the workplace or environment they
are in
C. Take a
“break” and revisit the issue at a later time/date
D. Allow
them to work the issue out their own
15. Having______
helps negotiators fashion agreements that meet their interests.
A. Reservation
prices
B. BATNAs
C. Precedents
D. Targets
E. All of
the above
16. One
classic mistake of negotiators is:
A. Failing
to take into account the concerns of parties who are not at the negotiation
table but will be affected by a potential agreement
B. Failing
to know the opposing party’s exact target price
C. Failing
to know the opposing party’s exact reservation price
D. All of
the above
17. When you
receive an offer better than your BATNA you should stop negotiating
TRUE
FALSE
18. Choose the
best example of and indirect confrontation for the following situation.
A. Peter, a
local school board member hired john whom owns a local print shop to make
custom T-shirts for his son basketball team’s win, this year are having a party
to celebrate their semi-finalist rankings. Unfortunately , the printer made a
mistake and printed on Red/Blue shirts instead of Black/Blue which are the
team’s actual colors.
B. Peter
explains to john that the team’s colors are Black/Blue and demands that John
re-point the shirt on the correct colors.
C. Peter
explains to john that the team’s colors are Black/Blue instead of Red/Blue and
asks John what he thinks they should do.
D. Peter
agrees to take the Red/Blue shirts but then posts a negative Yelp review on
John’s business.
E. Peter
rejects the shirts and files a lawsuit to attempt to recover the down payment
he made to John.
F. Peter
agrees to take the Red/Blue shirts but tells everyone he can in the school
about the incident about the incident and tells them not to buy from John.
