Management Exam 2 Flashcards

learn (38 cards)

1
Q

What is a prisoners’ dilemma style conflict?

A

A situation where two parties may not cooperate even if it is in their best interest, due to a lack of trust or communication.

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2
Q

What is the main dilemma in prisoners’ dilemma conflicts?

A

Each party must decide whether to act cooperatively or uncooperatively, with the risk of being exploited if the other party does not cooperate.

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3
Q

What are the consequences of acting uncooperatively in multiple-round prisoners’ dilemma conflicts?

A

It can lead to a breakdown of trust and ongoing conflict, reducing long-term gains for both parties.

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4
Q

Why is tit-for-tat a good strategy in prisoners’ dilemma conflicts?

A

It promotes cooperation by rewarding cooperation and punishing defection, fostering trust over time.

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5
Q

What are the limits and dangers of the tit-for-tat strategy?

A

It can escalate conflicts if one party misinterprets the other’s actions, leading to a cycle of retaliation.

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6
Q

What is biased punctuation of a feud history?

A

Misinterpreting events to justify one’s own actions while blaming the other party, leading to continued conflict.

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7
Q

What is the Sinister Attribution Error?

A

Assuming others have malicious intent while justifying one’s own actions as reasonable.

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8
Q

What is the Actor-Observer Bias?

A

Attributing others’ actions to their character while attributing one’s own actions to external circumstances.

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9
Q

What is Hanlon’s Razor?

A

Never attribute to malice that which can be adequately explained by stupidity or carelessness.

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10
Q

What does ‘lightning never falls from a blue sky’ mean?

A

Unexpected harm or betrayal usually comes with warning signs.

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11
Q

What does ‘the tree remembers what the axe forgets’ mean?

A

Those hurt by actions remember longer than those who caused the harm.

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12
Q

What is a resistance point in negotiation?

A

The minimum or maximum price or condition one is willing to accept.

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13
Q

What is a target in negotiation?

A

The ideal outcome or agreement a negotiator hopes to achieve.

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14
Q

What is BATNA?

A

Best Alternative to a Negotiated Agreement; the fallback option if negotiations fail.

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15
Q

What is the Zone of Potential Agreements (ZOPA)?

A

The range in which an agreement is acceptable to both parties.

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16
Q

What is a lowball tactic in negotiation?

A

Offering an unreasonably low initial offer to anchor the negotiation lower.

17
Q

What is a highball tactic in negotiation?

A

Offering an unreasonably high initial offer to anchor the negotiation higher.

18
Q

What is anchoring and adjusting in negotiation?

A

Setting a reference point (anchor) and then making concessions to reach an agreement.

19
Q

What is the ‘split the difference rule’?

A

A compromise strategy where both parties meet halfway between their positions.

20
Q

What is logrolling in negotiation?

A

Trading off issues of different importance to each party to achieve a win-win outcome.

21
Q

Why are many ethical challenges considered dilemmas?

A

They involve conflicting values or principles, making it difficult to decide the right course of action.

22
Q

What is consequentialism/utilitarianism?

A

An ethical approach focusing on outcomes and maximizing overall happiness or benefit.

23
Q

What is deontological ethics?

A

An ethical approach based on rules, duties, and principles regardless of the outcome.

24
Q

What is virtue ethics?

A

An ethical approach focused on the character and integrity of the person acting.

25
What are ethical blind spots?
Cognitive biases that prevent individuals from recognizing their own unethical behavior.
26
What is franchising?
Granting the right to use a company's brand and business model to an external party.
27
What is licensing?
Allowing another company to produce and sell products using one's intellectual property.
28
What is a strategic alliance?
A cooperative agreement between companies for mutual benefit without forming a new entity.
29
What is a foreign subsidiary?
A company owned or controlled by another company headquartered in a different country.
30
What is a joint venture?
A business entity created by two or more companies sharing resources, risks, and profits.
31
What is a tariff?
A tax on imported goods to protect domestic industries or generate revenue.
32
What is dumping in international business?
Selling goods in a foreign market at a price lower than in the home market or below cost.
33
What is global sourcing?
Procuring goods or services from international suppliers to minimize costs.
34
What are Hofstede's cultural dimensions?
Framework for understanding cultural differences, including power distance, individualism, and uncertainty avoidance.
35
What is Organizational Behavior?
The study of individual and group dynamics within an organizational setting.
36
What is the 'Big 5' model of personality?
Personality traits including openness, conscientiousness, extraversion, agreeableness, and neuroticism.
37
What is confirmation bias?
The tendency to search for or interpret information that confirms one’s beliefs.
38
What is the Fundamental Attribution Error?
Overemphasizing personal traits and underestimating situational factors when explaining others' behavior.