Asked by Marina Castelluzzo on Jun 16, 2024
Verified
All negotiations have an economic as well as a psychological dimension.
Negotiations
The process of discussing and reaching a mutual agreement between two or more parties with differing needs and preferences.
Psychological Dimension
An aspect concerning the mental and emotional factors influencing human behavior.
- Comprehend the methodology of devising a negotiation strategy and recognize the consequences of lacking mutual agreement in outcomes.
Verified Answer
PS
Poonam SaxenaJun 18, 2024
Final Answer :
True
Explanation :
Negotiations involve economic aspects such as bargaining over prices, terms of payment, and resource allocation. However, they also involve psychological aspects such as building trust, managing emotions, and understanding the other party's motivations and interests. Both dimensions must be considered for effective negotiation.
Learning Objectives
- Comprehend the methodology of devising a negotiation strategy and recognize the consequences of lacking mutual agreement in outcomes.
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