Negotitaion

Question 1

Negotiation

Answer 1

-The (often) ongoing process through which two or more parties work to reach an agreement

Question 2

Importance of Negotiation

Answer 2

• Allows for two parties to reach a mutual agreement.

Question 3

Negotiaphobia

Answer 3

• Disease of attitude and skill deficiency.

Question 4

Reasons for Negotiaphobia

Answer 4

• Many people see negotiations as an act of combat or conflict.

Question 5

Negotiation Strategy - Competing

Answer 5

• Use when the Substantive Outcome is Important but the Relational Outcome is Not Important.

Question 6

Negotiation Strategy - Collaborating -

Answer 6

Use when both the Substantive Outcome and the Relational Outcome are Important.

Question 7

Negotiation Strategy - Avoiding

Answer 7

• Use when neither the Substantive Outcome nor the Relational Outcome is Important.

Question 8

Negotiation Strategy - Compromising -

Answer 8

Use when both outcomes are moderately important and neither party is able or willing to fully engage in collaboration.

Question 9

Principled Negotiation Approach

Answer 9

Collaboration

Question 10

Principled/Integrative Bargaining

Answer 10

• Focuses on mutual interests rather than positions.

Question 11

Positional/Distributive Bargaining

Answer 11

• Involves holding firm to a fixed position and negotiating based on concessions.

Question 12

Steps for Using a Principled Approach

Answer 12

Separate the people from the problems focus on interests

Question 13

Value Creation

Answer 13

• The purpose of integrative situation negotiations.

Win win situation as both sides collaborate to find something that works better for everyone — not just taking turns giving things up, but creating new options that benefit both.

Question 14

Value Claiming

Answer 14

• The purpose of distributive situation negotiations.
• Value claiming is a win-or-lose situation where you fight to get the biggest share for yourself.

Question 15

What is BATNA

Answer 15

• Best Alternative to a Negotiated Agreement.

Question 16

Why is BATNA important?

Answer 16

• If you can negotiate a better deal than your BATNA = ideal outcome. If you cannot negotiate a better deal than your BATNA = walk away.

Question 17

What Competency is important in the work force?

Answer 17

Critical Thinking

Question 18

How is critical thinking Important in the Workforce?

Answer 18

As AI increasingly automates routine tasks, the ability to critically evaluate and interpret AI-generated outputs has become even more essential in the workforce.

Question 19

Key takeaways of alumni/industry panel

Answer 19

Get involved early — roles like student leadership, case comps, and mentorships helped build real-world skills.

Gen AI is being used across industries for tasks

Failure is normal — not getting co-op or making mistakes didn’t stop them. It helped them grow.

Don’t compare your path to others

Take risks and learn from failure

Trust your instincts and stay true to your values

Get involved in things you genuinely care about

Question 20

The top skills they used the most

Answer 20

Communication (presenting, writing, speaking up)

Critical thinking (analyzing problems, seeing all sides)

Collaboration (working with different people and feedback)

Planning & time management (especially in fast-paced jobs)