The Art of Negotiation Coursera Quiz Answers – Networking Funda

All Weeks The Art of Negotiation Coursera Quiz Answers

The art of negotiation comes into play daily in the life of employees at all levels and in every position. Participants explore how current approaches to negotiation strategy and tactics are used, what negotiation entails, types of negotiation relationships that exist from hard bargain to win-win, to fully partnered relationships and personal ones.

The course explores the personal and behavioral characteristics of an effective negotiator. Participants discuss how empowerment, power, and authority affect the negotiation process and outcome. Topics include how important it is to plan and prepare for a negotiation session.

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The Art of Negotiation Week 1 Quiz Answers

Quiz 1: Review

Q1. Which of the following might occur during a negotiation?

  • Presenting the features and benefits of a product or service to a potential client.
  • A discussion of how a product or service fulfills a potential client’s needs.
  • A presentation of an offer, which includes price, delivery, packaging and turnaround time.
  • Providing a potential client with a price list for your products or services along with a bulk order discount offer.

Q2. Which of the following scenarios is the best candidate for a negotiation?

  • The price of an entrée at a four star restaurant.
  • The price per unit for different quantities of a part you require for your manufacturing process.
  • The final cost of your groceries at a national chain grocery store/market.
  • The hourly labor rate on auto repair services at a national car service chain.

Q3. A win-win style of negotiation is generally characterized as:

  • Both sides give up a little of what they want, but are satisfied with the end result.
  • Both sides get all of what they wanted at the outset of the negotiation.
  • One side gets the majority of what is wanted and the other side achieves a small portion of what was wanted.
  • One side convinces the other side that the offered price is reasonable.

Q4. Some forms of “Positional” approaches to negotiation are:

  • Bargaining, collaboration, haggling.
  • Collaboration, tests of mutuality, shared pool of understanding.
  • Haggling, value distribution, collaboration.
  • Bargaining, haggling and trading.

Q5. Principled negotiation can be characterized as:

  • Both sides striving to acquire as much of the value in the negotiation as possible.
  • Identification of multiple possible solutions with a focus on issues.
  • One side giving up on positions which are untenable.
  • Equal sharing of the total value identified at the outset of the negotiation.

Q6. Which of the following must be in place for a collaborative approach to negotiation to be effective?

  • an understanding of the problem and obstacles to negotiation
  • a positive relationship and trust
  • a willingness to resolve conflict
  • an understanding that someone will not be content

Q7. In a win-lose scenario, the negotiation is perceived as a “pie” to be divided.

  • True
  • False

Q8. Which of the following is NOT a tenet of Principled Negotiation?

  • Separate the people from the problem
  • Focus on the interest of the parties involved, not positions
  • Look for mutual gains wherever possible
  • Aim to win the negotiation by taking a strong stance

Q9. During a negotiation, you notice that the other party has changed their strategy. This might be because:

  • they don’t know what their goals are
  • a circumstance dependent negotiator may change their strategy throughout the negotiation
  • a circumstance dependent negotiator always changes their strategy
  • it’s one of the tenets of the Four Options approach to negotiation

The Art of Negotiation Week 2 Quiz Answers

Quiz 2: Review

Q1. Which of the following is likely to increase your power in a negotiation?

  • Meeting at the counterpart’s place of business in a conference room.
  • Asking to meet with your counterpart’s supervisor.
  • Knowing that your counterpart’s organization had a contaminated batch last week.
  • Speaking in a highly formal manner and asking pointed closed-end  questions.

Q2. Why is it better for negotiations to be carried out by lower level employees with a set of expectations and limits rather than senior executives?

  • Lower level employees have more to lose and are more motivated.
  • The lower level individual is more likely to explore a wide variety of options for the agreement.
  • Lower level individuals are more likely to concede or walk away and complete the negotiation more quickly.
  • Senior executives are are more likely to get caught up in the details.

Q3. Which of the following is likely to provide the greatest protection for the organization and enable the development of a high value agreement?

  • A senior executive with full authority to reduce prices, define pack sizes and delivery dates.
  • A front line manager empowered to modify prices and delivery schedules.
  • A team of individuals with a variety of skill/knowledge sets working together.
  • An individual at a considerably higher level in the organization than the counterpart is in his or her organization.

Q4. What is a disadvantage of a “bottom line” strategy?

  • “Bottom line” strategies tend to keep the focus on price.
  • You don’t really know the lowest reasonable cost your counterpart can offer.
  • It requires aggressive confrontation to implement.
  • There really aren’t any, you should always focus on a “bottom line” price.

Q5. Which statement regarding time and a negotiation is most accurate?

  • Negotiations should always progress as quickly as possible so that the parties don’t lose interest or find alternatives.
  • A negotiator should wait for the timing of the negotiation to be in his or her favor.
  • Negotiations should not proceed until both parties are fully trusting of one another.
  • Lower dollar value negotiations should proceed very quickly while higher dollar value negotiations should proceed slowly.

Q6. You’ve been tasked to negotiate an agreement with a software company. In reality you don’t have the power to make the final decision, however your counterpart believes you do. How might you approach the negotiation?

  • Explain that the final decision is not yours to make
  • Lack of power will undermine your ability to be effective, so ask to be recused from the negotiation
  • If your counterpart perceives that you have power, then you should use it to your advantage
  • Try to change the balance of power by uncovering new information

Q7. The downside of having lower level employees carry out a negotiation with a higher level counterpart is that:

  • they will explore a wide variety of options
  • they will typically take more time and be less likely to walk away
  • the counterpart may be unwilling to discuss points of value with a lower level employee
  • they will take steps to build trust

Q8. The location of the negotiation, the physical arrangement of the room, and the proximity to your counterpart can impact the negotiations.

  • True
  • False

The Art of Negotiation Week 3 Quiz Answers

Quiz 3: Review

Q1. When it comes to personal values and negotiating:

  • It is extremely difficult to achieve a high value agreement if you do not share the same personal values as your counterpart.
  • If your personal values differ significantly from your counterpart’s values you will only be able to negotiate for a win-lose agreement.
  • Values are not relevant and should not play a role in a negotiation.
  • It is not necessary to share personal values with your counterpart but helpful to be aware of the values each person holds.

Q2. Confidence as a negotiator is exhibited by:

  • A clear understanding of the issues at hand.
  • Comfort with silence.
  • Willingness to change a position.
  • Both A and B

Q3. An example of persistence in a negotiation is:

  • Revisiting a dropped topic before the meeting ends.
  • Revisiting a point that received a negative response at a later point in the negotiation.
  • Having a bottom line strategy and gently reminding your counterpart of it each time a new offer is made.
  • Asking the same   in a variety of ways until you achieve agreement.

Q4. A good listener in a negotiation:

  • Listens without an agenda or plan of what to say next.
  • Responds to every point made by the counterpart in order.
  • Takes detailed notes while the counterpart is speaking.
  • Plans his or her response carefully as the counterpart is speaking.

Q5. Questining can be used as a means of building trust by

  • Asking many  s about the counterpart’s family and interests.
  • Asking  s about the counterparts largest customers.
  • Asking  s about your counterpart’s issues and challenges.
  • Asking  s about your counterpart’s Supervisor’s management style.

Q6 .What is the value of empathy in a negotiation?

  • When your counterparts believe that you see the issue from their point of view, they are much more likely to listen to your suggestions and proposals.
  • Empathy is a way of making friends and friends feel a greater obligation to help each other out.
  • Empathy helps your counterpart to feel good about you and therefore he or she is more likely to tell you their bottom line.
  • When you exhibit empathy, you show that you are willing to make concessions and modify your expectations to meet the demands of your counterpart.

Q7. What approach might you take if your counterpart does NOT view the negotiation as a win-win endeavor?

  • Put aside the possibility of a collaborative approach
  • Immediately change your approach
  • Ask to be removed from the negotiation
  • Clearly communicate that your goal is to maximize the benefits for both parties

Q8. Which of the following is NOT a behavior of a successful negotiator?

  • Being a good listener
  • The ability to keep talking when there’s a sticking point
  • Asking a lot of  s and gathering information
  • Asking a variety of  questions

The Art of Negotiation Week 4 Quiz Answers

Quiz 4: Review

Q1. When is the right time to make a first offer?

  • When you feel that you have a thorough understanding of the array of value options available to you, which ones have the most significance to your counterpart, and you have developed a trusting relationship with your counterpart.
  • When you feel that you have a thorough understanding of the array of value options available to you, and you have achieved more power in the relationship than your counterpart has and your counterpart is indicating a desire to end the negotiation.
  • When you are confident that you know your counterpart’s BATNA and you feel pressure from the counterpart to move the negotiation to a first offer stage.
  • When you feel you have overcome each of your counterpart’s positional statements and know you have greater authority in your organization than your counterpart has in his or her organization.

Q2. Which is true of a “First Offer?”

  • Your first offer should be your best offer.
  • You should always make the first offer.
  • Should be made after you understand the full set of options available to you and which hold the greatest value for your counterpart.
  • It should be extreme so that you and your counterpart have plenty of room to move between your BATNA and your actual offer.

Q3. A framework agreement is

  • The agreement you believe you’ll probably end up with.
  • The agreement you show your counterpart at the outset of the negotiation.
  • A list of possible options for the future agreement.
  • The ultimate and most realistic agreement you can achieve.

Q4. A framework agreement should include:

  • Payment terms.
  • Price per unit.
  • Lowest price you are willing to offer.
  • Both A and B.

Q5. A BATNA is:

  • A list of alternatives should you decide its best to walk away.
  • A specific plan of what you will do if there is no negotiated agreement.
  • A set of criteria for agreeing to the counterpart’s final offer.
  • The bottom line for all points of value in the negotiation.

Q6. You should change the terms of the framework agreement.

  • True
  • False

Q7. The advantage of having a well defined BATNA (Best Alternative to a Negotiated Agreement) is that:

  • you have a realistic scenario against which to compare other offers
  • you have a long list of possible alternatives
  • you have an agreement in place
  • you have outlined a set of criteria for agreeing to a negotiation

Q8. Consider a situation where your counterpart’s BATNA is more beneficial to them than your offer. What might you do?

  • Convince them that their BATNA is inferior to your proposal
  • Explore creative combinations of possibilities that make your offer more appealing
  • Begin bargaining over a defined and unchanging amount of value
  • Suggest they pursue their BATNA
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