With regard to how people fall short in negotiating, what are the most common "traps" of negotiation?
What will be an ideal response?
Leaving money on the table (also known as "lose -lose" negotiation); settling for too little (also known as "the
winner's curse"); walking away from the table (sometimes this shortcoming is traceable to hubris or pride; other
times, it results from a gross miscalculation); and settling for terms that are worse than the alternative (also known
as the "agreement bias").
You might also like to view...
Controlling is a management issue in information technology
a. True b. False
Revenues and production budget
Price, Inc., bottles and distributes mineral water from the company's natural springs in northern Oregon. Price markets two products: 12-ounce disposable plastic bottles and 1-gallon reusable plastic containers. Required: 1. For 2015, Price marketing managers project monthly sales of 420,000 12-ounce bottles and 170,000 1-gallon containers. Average selling prices are estimated at $0.20 per 12-ounce bottle and $1.50 per 1-gallon container. Prepare a revenues budget for Price, Inc., for the year ending December 31, 2015. 2. Price begins 2015 with 890,000 12-ounce bottles in inventory. The vice president of operations requests that 12-ounce bottles ending inventory on December 31, 2015, be no less than 680,000 bottles. Based on sales projections as budgeted previously, what is the minimum number of 12-ounce bottles Price must produce during 2015? 3. The VP of operations requests that ending inventory of 1-gallon containers on December 31, 2015, be 240,000 units. If the production budget calls for Price to produce 1,900,000 1-gallon containers during 2015, what is the beginning inventory of 1-gallon containers on January 1, 2015?