business negotiation

Name:

The exam consists of five multiple choice questions and two essay questions. Be sure to answer all of the questions.

1. Which of the following factors is not a key element in “3-D” negotiation?

A. Negotiation tactics

B. Deal design

C. Design thinking

D. Deal setup

Correct Answer: _____

2. What are the key differences between two-party and multiparty negotiations?

A. Number of parties

B. Different level of complexities regarding information, social, procedure and strategy

C. There are more rooms to form coalitions or launch negotiation campaigns in a multiparty negotiation

D. All of the above

Correct Answer: _____

3. According to Shell’s situational matrix (i.e., by size of stakes and importance of future relationship), which category does the negotiation between founders and VCs belong to?

A. Tacit coordination

B. Balanced concerns

C. Relationships

D. Transactions

Correct Answer: _____

4. What are some of the practical suggestions that the authors of “Getting to Yes” recommend regarding how to enhance your negotiating power in a negotiation?

A. There is power in developing a good working relationship between the people negotiating.

B. There is power in developing a good BATNA.

C. There is power in making a carefully crafted commitment.

D. All of the above

Correct Answer: _____

5. Which of following statements is NOT correct regarding the differences between deal-minded negotiators and implementation-minded negotiators?

A. Deal-minded negotiators tend to raise new issues at the end, while implementation-minded negotiators tend to raise issues early.

B. Deal-minded negotiators tend to establish early warning systems and contingency plans, while implementation-minded negotiators tend to focus on documenting commitments rather than on testing the practicality of these commitments.

C. Deal-minded negotiators tend not to correct mistaken impressions, while implementation-minded negotiators tend to question everyone’s assumptions openly.

D. Deal-minded negotiators tend limit participation in discussion to decision makers, while implementation-minded negotiators tend to seek inputs from stakeholders.

Correct Answer: _____

Case question:

In the case of Nora vs Sakari, these two companies entered an impasse in their JV negotiation. For Nora to renegotiate (and assuming that Kuusisto agreed), how should Nora restructure the terms of the deal?

Essay Question:

Name 4 major differences between deal-minded negotiators and implementation-minded negotiators? Please explain the differences and elaborate how these differences can be reflected in real-world negotiations.