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Free L4M5 Exam Braindumps (page: 8)

Page 7 of 41
PDF with 223 Questions

Which of the following are common forms of collaborating approach in Thomas-Kilmann conflict resolution model? Select THREE that apply.

  1. Exploring a disagreement to learn from each other's insights
  2. Yielding to another's point of view
  3. Resolving some conditions that would otherwise have them competing for resources
  4. Trying to win at any cost
  5. Trying to find a creative solution to current problem
  6. Seeking a quick middle-ground position

Answer(s): A,C,E

Explanation:

Collaborating is both assertive and cooperative.
When collaborating, an individual attempts to work with the other person to find a solution that fully satisfies the concerns of both. It involves digging into an issue to identify the underlying concerns of the two individuals and to find an alternative that meets both sets of concerns. Collaborating between two persons might take the form of exploring a disagreement to learn from each other's insights, resolving some condition that would otherwise have them competing for resources, or confronting and trying to find a creative solution to an interpersonal problem.



Collaborative approach in negotiation not only can fully satisfies the concerns of both, but also ensure that neither party will seek to be opportunistic in later time during the life of the contract. Is this statement true?

  1. Yes, because all parties must have exactly the same goals in integrative negotiation
  2. No, because any party may leverage its own advantage during the contract
  3. Yes, because both parties have well understood each other's goals when they engage in collaborative negotiation
  4. No, because the parties will always find a compromise solution in integrative approach

Answer(s): B

Explanation:

Integrative, interest-based negotiation can facilitate constructive, positive relationship and establish contracts between parties on a foundation of goodwill. It is important to note it can only facilitate these positive outcomes, it does not guarantee that the other party will not seek to be opportunistic at a later time during the life of the contract. Previous knowledge of the behaviours of the other party regarding honouring contractual and other commitments will be useful here in predicting long- term outcomes, not ensuring that they will not leverage their advantages.



When prices of input materials increase, supply curve shifts to the left while demand remains stable. The shift of supply will tend to cause which of the following?

  1. An increase in the equilibrium price and quantity
  2. A decrease in the equilibrium price and quantity
  3. A decrease in the equilibrium price and an increase in the equilibrium quantity
  4. An increase in the equilibrium price and a decrease in the equilibrium quantity

Answer(s): D

Explanation:

The case in the question is illustrated as below:



The equilibrium price initially at P0 with quantity Q0, when supply curve shifts to the left, it will converge with demand curve at new equilibrium point with price P1 and quantity Q1. As you can see from the graph, P1 is greater than P0 and Q1 is smaller than Q0.



When is the best time for buyer to propose the negotiation agenda to potential supplier?

  1. At opening stage
  2. At conclusion stage
  3. At testing stage
  4. At preparation stage

Answer(s): D

Explanation:

A business negotiation agenda is a formal agreed upon list of goals to be achieved or items to be discussed in a particular order during a meeting or negotiation. Agendas can be formal and obvious, or informal and subtle in negotiations.
The agenda is one of the main structural elements of negotiation, in addition to such questions as site, identification of participants, and elements of timing. Together, they answer the who, what, when, and where questions. As with other aspects of negotiation, the agenda can be used either manipulatively to enhance leverage or to improve the prospects for agreement and the possibilities for mutual gain. In most cases, it will be used both ways, reflecting the nature of negotiation as a "mixed-motive" situation.
Although it can be instrumental to [research] volunteer as a sole source to write the agenda, in most cases it becomes a joint activity to construct a consensual basis for subsequent negotiation. In these situations, agenda-building becomes one of the pre-negotiation activities that set the tone for the relationship (Saunders, 1985). In other situations, the parties may engage in actual negotiation without a formal or written agenda.
When this occurs, the risks and uncertainties may be high but the party who appreciates the importance of the informal agenda has a tremendous advantage.
Whether one plans it or not, during the course of negotiation the parties will discuss a finite set of issues in some sequence and from a particular perceptual framework. Consciousness of the universality and centrality of the agenda is prerequisite to guiding negotiation to a successful conclusion.


Reference:

CIPS study guide page 146-150
Managing the negotiation agenda | SpringerLink
What is Negotiations Agenda - Negotiation Coaching (brightfocusconsult.com)






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