Asked by sausage noose on May 20, 2024
Verified
The bargaining range is defined by
A) the opening stance and the initial concession.
B) the initial round of concessions.
C) the bargaining mix and the opening stance.
D) the opening offer and the counteroffer.
E) The bargaining range is defined by all of the above.
Bargaining Range
The spectrum of possible agreements in a negotiation process, bounded by the least favorable terms acceptable to each party.
Opening Stance
The initial position or attitude taken by a party at the beginning of a negotiation or discussion.
Counteroffer
A proposal made in response to an initial offer, suggesting different terms or conditions.
- Describe the formation and manipulation of the bargaining range in negotiation.
Verified Answer
TB
Taylor brownMay 24, 2024
Final Answer :
D
Explanation :
The bargaining range is the zone between the opening offer and the counteroffer where both parties are willing to negotiate and reach a mutually beneficial agreement. Therefore, the bargaining range is defined by the opening offer and the counteroffer. The other options may play a role in determining the parameters of the bargaining range, but they are not the defining factors.
Learning Objectives
- Describe the formation and manipulation of the bargaining range in negotiation.