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UGBA 105 Midterm- Test Questions & Answers
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UGBA 105 Midterm- Test Questions & Answers
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UGBA 105 Midterm- Test Questions &Answers
1. What are the 2 types of diversity—definition and examples (lecture/section) Correct Ans-
Inherent diversity - you're born with (race, demographic, sex)
Acquired diversity - you acquire it (major, profession, personality)
2. Know everything about negotiation
a. Tradeoff between a focus on the relationship vs. the deal (lecture/section) Correct Ans-
When negotiating, you can focus on relationships, interaction, deal. You should invest in good
relationships.
Establish rapport (relationships matter), prepare and know your BATNA(best alternative to
negotiated agreement), anchor (zone), focus on interests vs. positions (not zero-sum), and use
bundles.
A successful negotiation is one in which everyone wins (or feel like they due), it preserves
relationships
3. b. What is the myth of the fixed pie? (lecture/section) Correct Ans-When you think that it's
a zero sum game (that each incremental win for me is an incremental lost for you), when in
reality there are certain mutually beneficial opportunities (ex: the liability in the negotiation)
4.c. What is the parable of the lemon? (lecture/section) Correct Ans-The parable of the
lemon is the story about two sisters negotiating over who should get the one lemon that they
have. One sister wanted to make lemonade and one sister wanted to make a lemon pie. After a
while they realized that they could both use the lemon, because the sister wanting to make a
pie just needed the lemon zest while the other sister needed the lemon juice. This is a
metaphor for win-win negotiations where we are able to expand the pie so that both parties are
able to get what they want.
5d. How can the gender difference in negotiation be minimized? (lecture/section) Correct
Ans-Women can bridge the gender gap in negotiations by pretending to negotiate on behalf of
someone else. Ex. behalf of your team, or pretend someone hired you to negotiate for them.
, You miss 100% of the shots you don't take - don't be afraid to ask for a raise
5. e. What is focusing on positions vs. interests and how does each lead to a potentially different
outcome? (lecture/section) Correct Ans-Focusing on only a position typically leads to the
illusion that a person is unwilling to change their offer/objective/stance because of the "deal"
aspect of negotiating, while focusing on the interests (underlying desires/needs that give rise to
positions and motivate the negotiation) of both parties leads to a better deal because of the
understanding between both negotiators' position. This is very effective for integrative
bargaining.
6. f. What are these: distributive issues, compatible issues, integrative issues
(lecture/section/Rio Copa Foods case) Correct Ans-Distributive - when you value things in the
exact inverse way of your partner, the more your partner gets, the less you get ... and vice versa
(Non compete was distributive (max payoff of 1500 for both))
Zero sum game
Compatible - when you and your partner want the same thing, you can both win (The liability
was compatible (both win when liability is 100%))
Integrative - when you and your partner have different priorities on different issues (which is
almost always the case), you can trade what you want less of for what you want more
((Employees and cash amount were integrative (each partner valued each differently))
7. g. What is the efficient frontier (definition and explanation and how to get there)
(lecture/section) Correct Ans-The efficient frontier is the graph of all of the optimal outcomes
in a negotiation.If you are to the left of the efficient frontier then you performed suboptimally,
and a better deal could have been reached. It is impossible to be to the right of the efficient
frontier.
Were you and your partner get the ideal payoffs for you deal
7. h. What is a BATNA (lecture/section) Correct Ans-BATNA - Best Alternative To a Negotiated
Agreement
What are your options if you can't reach a deal?
Failing to understand:
Your BATNA - can't judge when to walk away, can't leverage with partner
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