Management homework help
1. In Chapter one your text author states that most people are ineffective negotiators who fall prey to some very common traps. What are these traps and why do we fall into them? Describe your own experienceswith the common traps and the reasons for them. Where do you see yourself in these behaviors?
2. Differentiate between the following terms:BATNA, Reservation Point, and Target Point.
3. Differentiate between a focal point and sunk costs. How do these negatively impact negotiations?
4. Differentiate between the endowment effect , violations of the sure thing principle and counterfactual thinking . Describe a situation where you or someone you know exhibited each.
5. Where do you see yourself with regard to risk aversion as applied to negotiations in this chapter? Where do you see yourself with regard to confidence in negotiations as described in the text? Give examples to support each.