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1 Session 4 Professor See Management 4330 Today • Admin – Hand in: completed planning document for today’s negotiation – Pick up: Final paper instructions (also posted on canvas) • Work individually, or in group (n < 3) • Topic and partner notification due via email by 4/18 • Paper due 5/2 – Try using the campus Writing Center for help with your draft: http://www.ucdenver.edu/academics/colleges/CLAS/Centers/writing/Pages/ TheWritingCenter.aspx – Trends memos from last time… • Yes, I do post the slides after every class on Canvas • ‘Did I commit fraud?’ – Bluffing in negotiation is always risky and poses ethical issues, but it’s not always fraudulent/illegal – All pieces of fraud definition need to be present (including ‘damages’) – Shell reading assigned after last class very helpful with examples! • Negotiate • Break • Review results / Debrief 2 Mgmt 4330, Professor See 2 3 Guidelines for today’s case • Stick to the issues and discrete levels explicitly provided in case – Don’t introduce outside issues as part of your agreement – Stick to discrete levels of issues on the agreement sheet • Do not discuss your payoffs/points as you negotiate – use the information the case provides you to make persuasive arguments • If you finish early, return to class so I can start entering results • To get credit for the exercise, must be done by 12:00 / 3:00 sharp Mgmt 4330, Professor See 4 Class Results (11:00) • Producer – High / Low: 10,085 / 3000 – Average: 5794 • Director – High / Low: 5625 / 250 – Average: 3405 • Reservation Price/Point: 3000 points (given in case) Mgmt 4330, Professor See 3 4 7 Class Results (2:00) • Producer – High / Low: 5175/ 3000 – Average: 3604 • Director – High / Low: 6350 / 3000 – Average: 4054 • Reservation Price/Point: 3000 points (given in case) Mgmt 4330, Professor See 5 10 Kinds of Issues in a Multi-Issue Negotiation Congruent Distributive Integrative Outcome Issue Preferences Approach win/win aligned cooperate win/lose opposing claim or compromise win/win compatible trade! Difference in preferences and priorities Opposing goals Aligned goals Mgmt 4330, Professor See 6 11 Levels of Joint Gain • All negotiated agreements are "Win-Win" – You are winning as long as you make a deal that is better than your RP and at least as good as your best alternative! • However, it is possible to distinguish among different levels of successfully exploiting potential joint gains Level 1. A mutually beneficial trade. That is, a positive ZOPA existed, and both parties found terms that benefited them beyond their BATNA or RP Level 2. Parties found terms that increased the surplus but that were not fully optimal Level 3. Pareto efficiency (all value has been extracted by the agreement) Mgmt 4330, Professor See 12 Pareto Efficiency / Optimality • An agreement/solution is pareto efficient if there exists no alternative outcome which w ...
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