Ethics in Negotiations: Negotiating has typically been viewed as a no-holds-barred game of liar's poker.
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Negotiating has typically been viewed as a no-holds-barred game of liar's poker.
Explain the role of ethics in negotiations.
Describe situations where it might not be best to take complete advantage of the other side in negotiations.
Evaluate the win-win approaches to negotiations that watch for the best interests of both parties.
Assess if ethical negotiations and win-win negotiations are feasible in the real world. Support your opinion with a recent real-life example such as UAW/Chrysler.
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This solution discusses ethics in negotiations in 819 words with four references.
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Negotiating has typically been viewed as a no-holds-barred game of liar's poker.
* Explain the role of ethics in negotiations.
The definition of business ethics is "a system of moral principles or values; the rules or standards governing the conduct of the members of a profession; accepted principles of right or wrong" (Bazerman, 2010). For people engaged in business negotiations, ethics is supposed to be equally applied by both parties in an attempt to obtain a win- win agreement through working honestly, fairly, and in good faith. A good example of the importance ethics plays is when companies negotiate contracts with unions. In many cases the only reason these contracts are successfully accomplished is from both the company and the union operating in good faith and trusting each other.
When a person or an organization has a poor reputation for being dishonest or unfair, it will result in difficulty in obtaining partnerships due to the inability to get people to openly negotiate in good faith. As the old saying goes, it takes years to build up a reputation and only seconds to destroy it. In business and in life, one should always strive to conduct themselves ethically to maintain a good reputation for being an honest and fair person (Sparks, 2008).
* Describe situations where it might not be best to take complete advantage of the other side in negotiations.
When negotiating in business, it is typically a safe bet to follow the "golden rule" ...
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