Discuss the below:
Managerial Decision Making
1. Eventually, the United States and Iran will have to sit down and negotiate the use of nuclear power. Discuss the issues that could be involved in such a negotiation. What cognitive mistakes might be made by the negotiators in this case? How could these mistakes be overcome in order to reach an acceptable agreement?
2. We have each had to negotiate during the process of purchasing a home or automobile. Analyze the last major purchase that you were involved with and discuss that purchase in terms of the decision-analytic approach. What was your BATNA and how did that come into play?
3. Recently, General Motors and the United Auto Workers had to sit down and negotiate a change in the labor agreement in order to keep the company from going bankrupt. Consider what might have gone on during these negotiations and discuss how framing might have been used, and what issues might have been discussed, in order to reach an acceptable agreement.
4. Discuss the four ways, outlined, in which contingent contracts can improve the outcomes of negotiations for both sides.
Text Book Reference
Bazerman, M. H., & Moore, D. A. (2009). Judgment in managerial decision making. (7th custom ed.). Hoboken, NJ: Wiley