Purchasing and Supply Chain Management
6th Edition
ISBN: 9781285869681
Author: Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher: Cengage Learning
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Question
Chapter 13, Problem 9DQ
Summary Introduction
To describe: The important sources of power in buyer-seller negotiation.
Introduction: Negotiation is the process, or skill required to build a better relationship. It is important for negotiating service delivery, legal contracts, lease, and sales condition.
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In a buyer-seller negotiation, what are the most powerful sources of power?
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- What is a win-win negotiation? What are the characteristics that make for a win-win negotiation?arrow_forwardWhich of the above are the five (5) phases of negotiation? In your answer, provide examples.arrow_forwardState the resources necessary to support effective negotiation planning and execution ?arrow_forward
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- Why is a negotiator’s BATNA the most important source of power in negotiation? Why should a negotiator constantly cultivate and improve his or her BATNA prior to negotiating?arrow_forwardAfter reading chapter two of Essentials of Negotiations, you have learned about settlement ranges. Please provide an example of a negative settlement range and how you might try to overcome and still reach a deal.arrow_forwardWhat is the difference between a contract and a verbal agreement? How do you ensure that a contract is legally binding?arrow_forward
- What are the key elements of a legally binding contract, and how can parties ensure that their agreement meets these requirements?arrow_forwardWhat are the most important things to you during this negotiation process? In what ways would you be willing to settle with the offer? Is the salary acceptable to you? Are the benefits acceptable to you? If they are not, specify any item you feel you will negotiate for, how much or how many and why? In other words, what is your counteroffer? Be realistic as you are a fresh college graduate without experiencearrow_forwardWhat are the legal and ethical considerations involved in negotiating and drafting contracts, and how can parties ensure that their agreements are fair and enforceable?arrow_forward
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