https://www.dropbox.com/scl/fi/rmuy60s7crmrzetnpmu8j/Robyn_and_Luis.mp4?dl=0&rlkey=9x2d4ddv7vepkd37n8slfu1b5
https://www.dropbox.com/scl/fi/i16nbkgtglogszo2zopn9/Power-Asymmetry-and-Principal-Agent-Difficult-Conversations-Video-1.mp4?dl=0&rlkey=2tbpbhs4edr3r01yj95usm0o4
These are two videos two different assignments, the instructions are in the word documents for each video. let me know if you guys can see the videos in the links please.
“Robyn & Luis” An Exercise in Managing Emotions in Contentious Negotiations with Third Party Intervention Introduction: You are placed in the position of the CEO of a publicly traded communication equipment manufacturer that has had low, stagnant profits for the past five years. Hired just six months ago, the CEO has been given 18 months by the firm's board chairman to turn the company around and increase its profitability. The CEO has been working energetically with the company's vice presidents to develop a plan of action to fix the problem. In order to control costs, the CEO has agreed with Vice-President for Finance Robyn Kendal to impose a 5% limit on budget increases in all departments in next year's budget. Kendal is to work with seven vice presidents to implement the budget cap. The CEO knows, however, that cutting costs alone will not achieve a sustained improvement in profitability. Company productivity must also be increased. Luis Molina, the company's Vice President for Human Resource Development, has proposed a new human resource development model that emphasizes employee training and evaluation as a way to improve productivity. Molina's plan is based on the human resources system in the company's Canadian subsidiary, the organization's most profitable unit. The CEO encourages Molina to develop a new human resources model based on the Canada system for the entire company Two weeks later, on the day after the CEO returns from a two-week trip, Robyn Kendal and Luis Molina appear at the door of the CEO's office and ask for a meeting. They enter the office and sit opposite the CEO's desk, looking directly at the viewer. Remind the CEO of the directive to limit budget increases, Kendal reports that whereas all the other vice presidents have agreed to limit budget increases for their units to 5%, Molina has refused and is insisting on an 8% increase. Molina replies that he needs the additional 3% (i.e. $200,000) in order to implement the new human resources plan that he and the CEO had agreed upon. Kendal insists, as the CEO had previously agreed, on the need to reduce costs in order to improve company profitability, while Molina argues strongly from the necessity of increasing productivity as the basic means of raising company profits on a sustained basis. The film ends as both face the CEO (i.e. the viewer) and say "well…?" Instructions: 1. Before you watch this video read the following in the textbook: Managing Emotions and Contentious Negotiations, Chapter 6 Third Party Intervention, Appendix 2. 2. View the video on Blackboard. 3. Review the Teaching Points and Key Terms below. 4. Write a report that describes how you would handle this situation. You may start your report by saying, “This is how I would handle the situation.” Your report should be between 500 and 750 words in length. Your report must demonstrate that you understand the key learning objectives listed below. You must correctly use at least 10 of the key terms listed below. Highlight (e.g., italic font, color) these terms in your report when you use them. Upload your description to Blackboard no later than June 22. Learning Objectives: Ability to understand and analyze the nature and causes of interpersonal conflict in the workplace Ability to understand the various roles that a third party may play in the settlement of a conflict Ability to understanding and use strategies for mediation and other forms of third-party intervention in a conflict Ability to understand and apply key terms related to managing emotions and contentious negotiations. Key Terms: defensive behavior Antipathy toward actions that harm one’s own side to the other party’s benefit facilitation A mediation style characterized by a mediator who serves as a channel of communication among disputing parties mediation A procedure whereby a third party assists disputants in achieving a voluntary settlement offensive behavior Any attempted actions that benefit one’s own negotiation position relative to the disputing party outcome control The ability of the third party to impose a final, binding settlement on negotiating parties process control The ability of a third-party mediator/arbitrator to control the discussion, questions, and process of communication between negotiating parties blowback effectRefers to the action-reaction cycle that results in genuine anger and diminishes trust in both the negotiator and counterparty conflict adaptivityThe capacity to respond to different conflict situations in accordance with the demands of the situation contestA power-based approach in which parties take action to determine who will prevail emotional intelligenceAbility of people (and negotiators) to understand emotions in themselves and others and to use emotional knowledge to effect positive outcomes emotionsRelatively fleeting states that are usually fairly intense and often a result of a particular experience genuine emotionAuthentic, behavioral manifestations of felt emotions incidental emotionsEmotions lacking a clear target in the situation integral emotionRelated to the situation interests-based approachFocusing on the other party’s underlying needs, desires, and concerns in negotiation and attempting to reconcile differing interests among parties in a way that addresses the parties’ most pressing needs and concerns moodsChronic and diffuse emotional states that are not usually directed at a person power-based approachAttempting to resolve disputes by analyzing status, rank, and other types of power; and attempting to coerce the other party to settle on terms that are more satisfactory to the wielder of power self-regulationThe ability to effectively manage one’s own emotions at the bargaining table social dilemmasA dilemma when negotiators are faced with a choice to cooperate or compete with the counterparty strategic emotionsContrived emotions, carefully designed orchestration to take the counterparty off guard strategic flinchA verbal or physical display of shock, disgust of disbelief made to a statement. Negotiators who flinch claim more value than negotiators who don’t flinch threatsA power-based approach in which one or both parties make a threat 2 Power Asymmetry and the Principal-Agent Problem Background: On the left is Rob, the employee. On the right is Larry, his boss. The full video is on Blackboard, Yuja. This video simulation was designed to give you insights into the challenges surrounding difficult conversations, both with people across the table, as well as with people on their own side. The scenario also focuses on negotiating with those who are more senior and who may exhibit nonconstructive behavior. The video is separated into three sections, highlighting separate phases of a difficult conversation or negotiation: preparation and goal alignment, re-evaluation of mid-course strategy, and review and coaching. Learning Objectives: Ability to managing the tension between principals and agents (the “principal-agent problem”). Ability to handling difficult conversations Understanding coaching as a managerial responsibility Understanding the differences between the “Dealmaking Mindset” vs. the “Implementation Mindset” Skill in dealing with power asymmetries Ability to Influence without having authority Understanding the “Fixed Mindset” vs. the “Growth Mindset Understanding the Advantages of Using Agents to Represent Your Interests Expertise Substantive knowledge Networks and special influence Emotional detachment Ratification Face saving Understanding the Disadvantages of Using Agents to Represent Your Interests Incompatible incentive structure Loss of control Agreement at any cost Knowledge of how to Work Effectively with Agents Shop around Know your BATNA before meeting with your agent Communicate your interests to your agent without revealing your reservation price Capitalize on the agent’s expertise Tap into your agent’s sources of information Use agent networks Discuss ratification Use your agent to help save face Use your agent to buffer emotions Knowledge of Managing Constituent Relationships A constituent is ostensibly on the “same side” as a principal, but exerts independent influence on the outcome through the principal Understanding the Three Types of Constituencies Superiors Subordinates The constituents themselves Managing Challenges for Constituent Relationships Behind the table barriers Accountability (second table) Decision-making vigilance Impression management and face-saving Prototypical versus peripheral representatives Conflicts of interest Know Strategies for Improving Constituent Relationships Communicate with your constituents Do not expect homogeneity of constituent views Educate your constituents on your role and your limitations Help your constituents to do horizon thinking Key Terms: perceived power A negotiator’s assessment of each party’s potential power, which may or may not square with reality potential power The underlying capacity of the negotiator to obtain benefits from one’s agreement power The potential a person holds to influence others successfully Symmetric versus Asymmetric Power In some negotiation situations, one party has considerately more power as compared to the other partysuch situations are characterized by power asymmetry power tactics Refers to the behaviors designed to use or change the power relationship primary status characteristics Indicators of legitimate authority that are relevant to accomplishing a specific task; e.g., rank, title, previous experience, etc. realized power The extent to which negotiators have claimed benefits from the interaction reputationA socially constructed label that provide a representation that organizes a person’s perception of another person self-fulfilling prophecyA situation that occurs when the beliefs held by a perceiver elicit behavior from a target person in a manner that confirms the perceiver’s expectations status The relative social position or rank given to people or groups by others agreement bias When negotiators focus on reaching common ground with the other party and are reluctant to accept differences of interest, even when such acceptance might create options for joint gain behind the table barrier Refers to how negotiators must sell deals to their own internal constituencies as well as the other party constituent Represents peripheral player in a negotiation that is on the “same side” as a principle, but exerts independent influence on the outcome through their relationship with the principle getting to yes bias A psychological bias in which agreement becomes more important than the contents of the agreement horizon thinking A type of thinking that involves making projections about future outcomes multiparty negotiation When a group of three or more individuals, each representing his or her own interests, attempts to resolve perceived differences of interest second table In a group negotiation, the relationship that parties share with their constituents status quo bias A tendency in decision making and negotiation to prefer current circumstances over proposed new ones tunnel vision The tendency for people in group negotiations to underestimate the number of feasible options and alternatives available Instructions: 1. Before you watch the video read the following chapters in the textbook: a. Power, Ethics, and Reputation, Chapter 8, b. Multiple Parties, Coalitions, and Teams, Chapter 10. c. Review the teaching objectives and key terms above. 2. Watch Part I of the video: Preparation and Goal Alignment. 3. Stop the video. 4. Write some notes that take Rob’s perspective and note how you may feel departing this conversation. 5. Watch Part II. Re-evaluation of Mid-course Strategy. Rob debriefs the first round of the negotiation with Larry, and explains an unexpected complication that the client has hired an agent (“procurement consultant”) to be their lead negotiator. 6. Stop the video. 7. Take notes to record what you think of Larry’s plan. Note how would you advise them to approach this negotiation. 8. Watch Part III. Review and Coaching. Rob negotiates a creative solution with the client and reports back to Larry. 9. Stop the video. 10. Write notes that analyze the choices that Larry and Rob make in this conversation that could undermine future collaboration. 11. Use your notes to write a report about this situation. Your report should be between 500 and 750 words in length. Your report must demonstrate that you understand the key learning objectives listed above. You must correctly use at least 10 of the key terms listed above. Highlight (e.g., italic font, color) these terms in your report when you use them. Upload your report to Blackboard no later than February 17. Revised 8.15.20 All Rights Reserved Revised 8.15.20 All Rights Reserved Power Asymmetry and the Principal - Agent Problem Background: On the left is Rob , th e employee. On the right is L arry , his bo ss . The full video is on Blackboard , Yuja. This video simulation was designed to give you insights into the challenges surrounding difficult c onversations, both with people across the table, as well as with people on their own side. The scenario also focuses on negotiating with those who are more s enior and who may exhibit nonconstructive behavior. The video is separated into three sections, highlighting separate phases of a difficult conversation or negotiation: preparation and goal alignment, re - evaluation of mid - course strategy, and review and co aching. Learning Objectives: Ability to m anaging the tension between principals and agents (the “principal - agent problem”). Ability to h andling d ifficult c onversations Understanding c oaching as a m anagerial r esponsibility Understanding the differences between the “Dealmaking Mindset” vs. the “Implementation Mindset” Skill in d ealing with p ower a symmetries Ability to Influenc e w ithout having a uthority Revised 8.15.20 All Rights Reserved Power Asymmetry and the Principal-Agent Problem Background: On the left is Rob, the employee. On the right is Larry, his boss. The full video is on Blackboard, Yuja. This video simulation was designed to give you insights into the challenges surrounding difficult conversations, both with people across the table, as well as with people on their own side. The scenario also focuses on negotiating with those who are more senior and who may exhibit nonconstructive behavior. The video is separated into three sections, highlighting separate phases of a difficult conversation or